Corient Private Wealth LP Sells 41,994 Shares of Versant Corporation $VSNT

Key Points

• Corient Private Wealth reduced its Versant stake by 36.3% in the second quarter, selling 41,994 shares and retaining 73,690 shares valued at approximately $2.65 million. Other institutional investors, including Virginia Retirement Systems and Rose Capital Advisors, initiated new positions.
• Versant reported quarterly earnings of $1.49 per share, exceeding the $1.39 analyst consensus, on revenue of $1.64 billion. The company expects full-year earnings of approximately $4.04 per share.
• Versant declared a quarterly dividend of $0.375, equivalent to an annualized $1.50 payment and a 4.3% yield. Analysts maintain a consensus “Hold” rating with a $43.40 target price, compared with a recent share price of $34.70.

Corient Private Wealth LP decreased its holdings in shares of Versant Corporation (NASDAQ:VSNT - Free Report) by 36.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 73,690 shares of the company's stock after selling 41,994 shares during the quarter. Corient Private Wealth LP owned 0.05% of Versant worth $2,654,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Versant in the second quarter worth $3,381,000. HB Wealth Management LLC grew its holdings in shares of Versant by 7.8% in the second quarter. HB Wealth Management LLC now owns 11,985 shares of the company's stock worth $432,000 after purchasing an additional 866 shares during the last quarter. Rose Capital Advisors LLC bought a new position in shares of Versant in the second quarter worth about $1,249,000. TD Waterhouse Canada Inc. purchased a new position in Versant in the 2nd quarter worth about $38,000. Finally, AXQ Capital LP bought a new stake in Versant during the 2nd quarter valued at about $1,864,000.

Versant Price Performance

Shares of VSNT stock opened at $34.70 on Tuesday. Versant Corporation has a 1-year low of $27.17 and a 1-year high of $59.00. The stock's 50-day moving average is $37.69 and its 200 day moving average is $38.52. The company has a market cap of $4.82 billion and a P/E ratio of 9.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.38.

Versant (NASDAQ:VSNT - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.10. The firm had revenue of $1.64 billion during the quarter. Research analysts predict that Versant Corporation will post 4.04 earnings per share for the current fiscal year.

Versant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 4.3%. The ex-dividend date is Thursday, October 1st. Versant's dividend payout ratio (DPR) is 43.10%.

Analyst Ratings Changes

A number of equities analysts have commented on VSNT shares. Zacks Research downgraded shares of Versant from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. TD Cowen upped their target price on Versant from $35.00 to $39.00 and gave the stock a "hold" rating in a report on Friday, August 7th. Arete Research raised Versant from a "sell" rating to a "neutral" rating and set a $40.00 price target on the stock in a research report on Friday, July 17th. The Goldman Sachs Group restated a "neutral" rating and set a $43.00 price target on shares of Versant in a research note on Friday. Finally, Weiss Ratings lowered shares of Versant from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, September 9th. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Versant currently has a consensus rating of "Hold" and a consensus target price of $43.40.

Versant Profile

Versant is a media and entertainment company formed through the separation of Comcast's cable-network and digital-media businesses. The company operates a portfolio of television networks and related platforms that provide news, sports, entertainment and lifestyle programming to audiences in the United States and internationally.

Its brands include USA Network, CNBC, MSNBC, E!, Syfy, Oxygen and Golf Channel. Versant also has digital and consumer-facing businesses associated with its media portfolio, including Fandango, Rotten Tomatoes and Xumo.

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