Harbor Island Capital LLC Makes New $7.97 Million Investment in Versant Corporation $VSNT

Key Points

• Harbor Island Capital LLC acquired 221,266 Versant shares worth approximately $7.97 million, representing 0.16% of the company and 2.1% of the fund’s portfolio.
• Several institutional investors increased or initiated positions in Versant during the second quarter, including UBS Asset Management, VanEck and HSBC Holdings.
• Versant reported quarterly earnings of $1.49 per share, beating estimates by $0.10, and declared a quarterly dividend of $0.375 per share. Analysts maintain a consensus “Hold” rating with an average price target of $43.20.

Harbor Island Capital LLC acquired a new stake in Versant Corporation (NASDAQ:VSNT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 221,266 shares of the company's stock, valued at approximately $7,968,000. Versant accounts for 2.1% of Harbor Island Capital LLC's investment portfolio, making the stock its 15th largest position. Harbor Island Capital LLC owned 0.16% of Versant as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alyeska Investment Group L.P. increased its stake in Versant by 12.4% in the second quarter. Alyeska Investment Group L.P. now owns 450,796 shares of the company's stock valued at $16,233,000 after purchasing an additional 49,671 shares during the last quarter. Delta Asset Management LLC TN acquired a new stake in Versant in the 2nd quarter worth about $254,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Versant in the 2nd quarter valued at about $12,090,000. Van ECK Associates Corp purchased a new stake in Versant in the 2nd quarter valued at about $4,184,000. Finally, Hsbc Holdings PLC grew its holdings in Versant by 154.1% in the 2nd quarter. Hsbc Holdings PLC now owns 443,145 shares of the company's stock valued at $16,079,000 after buying an additional 268,740 shares during the period.

Versant Stock Performance

Versant stock opened at $40.31 on Wednesday. The stock's 50-day moving average is $37.35 and its 200-day moving average is $37.76. The company has a market cap of $5.59 billion and a price-to-earnings ratio of 11.58. 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 Corporation has a 12 month low of $27.17 and a 12 month high of $59.00.

Versant (NASDAQ:VSNT - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.10. The firm had revenue of $1.64 billion during the quarter. Equities analysts anticipate that Versant Corporation will post 4.04 earnings per share for the current year.

Versant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Thursday, October 1st. Versant's payout ratio is 43.10%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on VSNT shares. Seaport Research Partners reiterated a "buy" rating and set a $46.00 price objective on shares of Versant in a report on Monday, May 18th. The Goldman Sachs Group boosted their target price on shares of Versant from $37.00 to $42.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. JPMorgan Chase & Co. began coverage on shares of Versant in a research report on Tuesday, May 12th. They set a "neutral" rating and a $43.00 price target for the company. TD Cowen increased their price target on shares of Versant from $35.00 to $39.00 and gave the stock a "hold" rating in a research note on Friday, August 7th. Finally, Arete Research upgraded shares of Versant from a "sell" rating to a "neutral" rating and set a $40.00 price target on the stock in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Versant currently has an average rating of "Hold" and an average target price of $43.20.

About Versant

Versant Corporation is a provider of data management software. The Company designs, develops, markets and supports database management system products that companies use to solve data management and data integration issues. It also provides related product support, training and consulting services to assist users of the Company's products in developing and deploying software applications based on its products. The Company's Versant Object Database product is used primarily by enterprises, which have data management requirements, such as technology providers, telecommunications carriers, Government defense agencies, defense contractors, healthcare companies and companies in the financial services and transportation industries.

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