Envestnet Asset Management Inc. Raises Holdings in Versant Corporation $VSNT

Key Points

• Envestnet Asset Management more than doubled its Versant stake in the second quarter, increasing holdings by 110.1% to 70,666 shares valued at approximately $2.55 million.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $43.00 average price target; ratings include two Buys and seven Holds.
• Versant reported quarterly EPS of $1.49, exceeding the $1.39 consensus estimate, and declared a quarterly dividend of $0.375, representing a 4.8% annualized yield.

Envestnet Asset Management Inc. lifted its stake in shares of Versant Corporation (NASDAQ:VSNT - Free Report) by 110.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,666 shares of the company's stock after acquiring an additional 37,028 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.05% of Versant worth $2,545,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp bought a new position in shares of Versant in the 2nd quarter worth $171,182,000. The Manufacturers Life Insurance Company purchased a new position in Versant in the second quarter valued at about $541,000. Sequoia Financial Advisors LLC raised its holdings in Versant by 1.3% in the second quarter. Sequoia Financial Advisors LLC now owns 28,523 shares of the company's stock worth $1,027,000 after purchasing an additional 359 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Versant during the second quarter valued at about $2,781,000. Finally, Integrated Wealth Concepts LLC lifted its position in shares of Versant by 24.3% during the second quarter. Integrated Wealth Concepts LLC now owns 15,497 shares of the company's stock valued at $558,000 after buying an additional 3,025 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Zacks Research cut shares of Versant from a "strong-buy" rating to a "hold" rating in a report on Monday, August 17th. Arete Research raised shares of Versant from a "sell" rating to a "neutral" rating and set a $40.00 target price for the company in a research report on Friday, July 17th. TD Cowen raised their target price on shares of Versant from $35.00 to $39.00 and gave the company a "hold" rating in a research note on Friday, August 7th. Weiss Ratings lowered shares of Versant from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, September 9th. Finally, Citigroup initiated coverage on shares of Versant in a report on Thursday, September 24th. They issued a "buy" rating and a $41.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $43.00.

Versant Stock Up 0.3%

NASDAQ:VSNT opened at $31.02 on Tuesday. The firm has a market capitalization of $4.31 billion and a P/E ratio of 8.91. Versant Corporation has a 1-year low of $27.17 and a 1-year high of $59.00. The company's fifty day moving average price is $36.97 and its 200-day moving average price is $38.19. 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 issued its quarterly earnings data on Thursday, August 6th. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.10. The company had revenue of $1.64 billion during the quarter. As a group, equities research analysts anticipate that Versant Corporation will post 4.08 EPS for the current year.

Versant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Thursday, October 1st will be given a $0.3750 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.8%. Versant's payout ratio is 43.10%.

About Versant

Versant, Inc is a media and entertainment company formed through the separation of certain cable television and digital media assets from Comcast. The company operates a portfolio of entertainment, news, sports and lifestyle brands serving audiences in the United States and internationally through television networks, digital platforms and related content services.

Versant's portfolio includes USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel, along with digital properties such as Fandango and Rotten Tomatoes.

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