HBK Investments L P Invests $14.44 Million in Versigent $VGNT

Key Points

• HBK Investments acquired 343,706 Versigent shares valued at approximately $14.44 million, representing about 0.49% of the company. Several other institutional investors also initiated positions during the second quarter.
• Analysts remain broadly bullish, with 11 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $54.00.
• Versigent beat quarterly expectations with $1.92 in EPS and $2.44 billion in revenue, while its shares recently traded at $45.34. The company also declared a quarterly dividend of $0.13 per share, implying a 1.1% annualized yield.

HBK Investments L P bought a new position in shares of Versigent (NYSE:VGNT - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 343,706 shares of the company's stock, valued at approximately $14,439,000. HBK Investments L P owned approximately 0.49% of Versigent at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Allianz Asset Management GmbH acquired a new stake in Versigent in the second quarter valued at $20,602,000. Steamboat Capital Partners LLC purchased a new position in shares of Versigent in the 2nd quarter valued at about $10,385,000. WINTON GROUP Ltd purchased a new position in shares of Versigent in the 2nd quarter valued at about $8,397,000. Nan Shan Life Insurance Co. Ltd. acquired a new stake in shares of Versigent during the 2nd quarter worth about $5,400,000. Finally, Ancora Advisors LLC acquired a new stake in shares of Versigent during the 2nd quarter worth about $4,197,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Evercore reaffirmed an "outperform" rating and issued a $65.00 price target on shares of Versigent in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $54.00 price objective on shares of Versigent in a report on Wednesday, August 5th. TD Cowen boosted their price objective on shares of Versigent from $49.00 to $58.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Weiss Ratings began coverage on shares of Versigent in a report on Wednesday, August 5th. They issued a "hold (c)" rating for the company. Finally, Argus upped their target price on shares of Versigent from $50.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Versigent has an average rating of "Moderate Buy" and an average target price of $54.00.

Versigent Trading Up 0.3%

Shares of Versigent stock traded up $0.15 on Wednesday, hitting $45.34. The stock had a trading volume of 832,780 shares, compared to its average volume of 1,738,343. Versigent has a 52-week low of $26.34 and a 52-week high of $50.88. The company has a current ratio of 1.40, a quick ratio of 1.09 and a debt-to-equity ratio of 7.29. The firm has a market cap of $3.21 billion and a PE ratio of 23.61. The business has a 50 day moving average price of $44.60.

Versigent (NYSE:VGNT - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.34. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.29 billion. Analysts predict that Versigent will post 7.23 EPS for the current fiscal year.

Versigent Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 4th.

Insider Buying and Selling at Versigent

In other news, Director Kevin Clark sold 74,130 shares of the firm's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $45.67, for a total transaction of $3,385,517.10. Following the transaction, the director directly owned 124,849 shares in the company, valued at approximately $5,701,853.83. This trade represents a 37.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Versigent Profile

Versigent PLC is involved in the design, manufacturing and delivery of low and high voltage power electrical architectures. Versigent PLC is based in SCHAFFHAUSEN, Switzerland.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.