Insider Buying: Skillsoft (NYSE:SKIL) CEO Buys 8,325 Shares

Key Points

• Skillsoft CEO Ronald Hovsepian bought 8,325 shares at an average price of $6.10, investing $50,782.50 and increasing his ownership by 2.29% to 371,071 shares.
• Skillsoft shares recently traded around $5.95, while the company reported quarterly EPS of $1.17, beating analysts’ $0.83 estimate; revenue of $98.25 million slightly missed expectations.
• Analyst sentiment remains cautious, with two Hold ratings and one Sell rating producing a consensus “Reduce” rating. Institutional investors own approximately 87% of the company.

Skillsoft Corp. (NYSE:SKIL - Get Free Report) CEO Ronald Hovsepian purchased 8,325 shares of the business's stock in a transaction on Monday, September 21st. The stock was purchased at an average cost of $6.10 per share, for a total transaction of $50,782.50. Following the acquisition, the chief executive officer owned 371,071 shares in the company, valued at approximately $2,263,533.10. The trade was a 2.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Skillsoft Trading Up 0.1%

Shares of SKIL stock traded up $0.01 during mid-day trading on Wednesday, reaching $5.95. The stock had a trading volume of 99,259 shares, compared to its average volume of 146,405. The firm has a market capitalization of $54.11 million, a PE ratio of -0.32, a price-to-earnings-growth ratio of 0.19 and a beta of 2.22. The stock's 50-day moving average price is $7.01 and its two-hundred day moving average price is $6.44. Skillsoft Corp. has a 52-week low of $3.43 and a 52-week high of $18.45.

Skillsoft (NYSE:SKIL - Get Free Report) last posted its earnings results on Wednesday, September 9th. The company reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.34. Skillsoft had a negative net margin of 36.13% and a negative return on equity of 74.19%. The company had revenue of $98.25 million during the quarter, compared to analyst estimates of $99.00 million. On average, equities research analysts forecast that Skillsoft Corp. will post 3.05 earnings per share for the current year.

Hedge Funds Weigh In On Skillsoft

Several institutional investors and hedge funds have recently added to or reduced their stakes in SKIL. Renaissance Technologies LLC grew its position in shares of Skillsoft by 11.1% in the 1st quarter. Renaissance Technologies LLC now owns 61,009 shares of the company's stock worth $262,000 after buying an additional 6,100 shares during the period. Squarepoint Ops LLC purchased a new stake in Skillsoft in the second quarter worth about $98,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Skillsoft by 23.7% during the first quarter. Bank of New York Mellon Corp now owns 15,561 shares of the company's stock valued at $67,000 after purchasing an additional 2,985 shares in the last quarter. Hedge funds and other institutional investors own 87.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Oppenheimer reissued a "market perform" rating on shares of Skillsoft in a research note on Thursday, September 10th. Weiss Ratings upgraded shares of Skillsoft from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce".

About Skillsoft

Skillsoft Corporation NYSE: SKIL is a provider of digital learning and talent-development solutions for businesses, government organizations and other institutions. The company offers online courses, learning paths, assessments and related tools designed to help organizations develop employee skills and support workforce transformation.

Its offerings cover areas such as leadership and business skills, technology and software development, cybersecurity, compliance, productivity and professional certifications.

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