Skillsoft (NYSE:SKIL) CEO Purchases $66,392.28 in Stock

Key Points

• CEO insider purchase: Skillsoft CEO Ronald Hovsepian bought 11,196 shares at an average price of $5.93, investing $66,392.28 and increasing his ownership by 3.02% to 382,267 shares.
• Stock and financial performance: SKIL shares fell 2.5% to $5.96, well below the 50-day and 200-day moving averages. The company exceeded quarterly EPS estimates ($1.17 versus $0.83) but reported revenue slightly below expectations and continued to post negative margins.
• Analyst sentiment remains cautious: Analysts maintain an average “Reduce” rating, with two Hold ratings and one Sell rating; institutional investors own approximately 87% of Skillsoft’s stock.

Skillsoft Corp. (NYSE:SKIL - Get Free Report) CEO Ronald Hovsepian purchased 11,196 shares of the company's stock in a transaction dated Wednesday, September 23rd. The stock was purchased at an average cost of $5.93 per share, with a total value of $66,392.28. Following the purchase, the chief executive officer owned 382,267 shares in the company, valued at approximately $2,266,843.31. This trade represents a 3.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Skillsoft Trading Down 2.5%

SKIL traded down $0.15 during mid-day trading on Friday, hitting $5.96. 24,614 shares of the stock were exchanged, compared to its average volume of 145,269. Skillsoft Corp. has a 1-year low of $3.43 and a 1-year high of $18.45. The firm's fifty day moving average is $6.99 and its two-hundred day moving average is $6.46. The company has a market cap of $54.28 million, a PE ratio of -0.32, a PEG ratio of 0.19 and a beta of 2.22.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Oppenheimer reaffirmed a "market perform" rating on shares of Skillsoft in a report on Thursday, September 10th. Weiss Ratings raised Skillsoft from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Skillsoft currently has an average rating of "Reduce".

Institutional Trading of Skillsoft

A number of hedge funds and other institutional investors have recently made changes to their positions in SKIL. Renaissance Technologies LLC boosted its stake in Skillsoft by 11.1% during the 1st quarter. Renaissance Technologies LLC now owns 61,009 shares of the company's stock valued at $262,000 after purchasing an additional 6,100 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Skillsoft during the 2nd quarter valued at $98,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Skillsoft by 23.7% during the 1st quarter. Bank of New York Mellon Corp now owns 15,561 shares of the company's stock valued at $67,000 after buying an additional 2,985 shares during the last quarter. Institutional investors own 87.00% of the company's stock.

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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