Versant (NASDAQ:VSNT) Share Price Breaks Below Fifty Day Moving Average - Here's Why

Key Points

• Versant shares fell below their 50-day moving average, trading as low as $33.29 versus a $33.90 average and last changing hands at $33.69.
• Analyst views are mixed, but the consensus rating is Hold with a $41.71 price target; recent calls ranged from Strong Buy to Sell.
• Versant reported quarterly EPS of $0.34, beating the $0.03 estimate, and announced a $0.375 quarterly dividend, equivalent to a 4.5% yield.

Shares of Versant Corporation (NASDAQ:VSNT - Get Free Report) passed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $33.90 and traded as low as $33.29. Versant shares last traded at $33.69, with a volume of 1,996,868 shares.

Analyst Upgrades and Downgrades

VSNT has been the subject of a number of research reports. TD Cowen increased their target price on Versant from $35.00 to $39.00 and gave the stock a "hold" rating in a research note on Friday, August 7th. Zacks Research upgraded Versant from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 16th. JPMorgan Chase & Co. lowered their target price on shares of Versant from $43.00 to $39.00 and set a "neutral" rating on the stock in a research note on Wednesday. Morgan Stanley began coverage on Versant in a report on Thursday, October 15th. They set an "equal weight" rating and a $38.00 target price on the stock. Finally, Weiss Ratings cut shares of Versant from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $41.71.

Versant Stock Performance

The stock has a market capitalization of $4.68 billion and a P/E ratio of 9.68. The company's fifty day simple moving average is $33.90 and its two-hundred day simple moving average is $36.27. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.38 and a current ratio of 2.38.

Versant (NASDAQ:VSNT - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.31. The firm had revenue of $1.59 billion during the quarter. As a group, equities analysts forecast that Versant Corporation will post 4.27 EPS for the current year.

Versant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 25th. Stockholders of record on Monday, January 4th will be paid a $0.3750 dividend. The ex-dividend date of this dividend is Monday, January 4th. This represents a $1.50 annualized dividend and a dividend yield of 4.5%. Versant's dividend payout ratio (DPR) is presently 43.10%.

Institutional Investors Weigh In On Versant

Several institutional investors have recently made changes to their positions in the company. State Street Corp acquired a new position in Versant in the 2nd quarter valued at approximately $171,182,000. Dimensional Fund Advisors LP purchased a new stake in shares of Versant in the first quarter valued at about $41,747,000. Principal Financial Group Inc. acquired a new stake in Versant in the 1st quarter valued at $26,331,000. Bank of America Corp DE bought a new stake in Versant during the first quarter worth approximately $25,317,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Versant in the first quarter valued at $24,475,000.

About Versant

Versant is a media and entertainment company formed from Comcast's separation of several NBCUniversal cable networks and digital businesses. Its portfolio includes news brands CNBC and MS NOW, along with entertainment and sports networks such as USA Network, Syfy, E!, Oxygen and Golf Channel.

The company also operates digital and consumer services including Fandango, Rotten Tomatoes, GolfNow and SportsEngine. Through its television networks and online platforms, Versant serves audiences primarily in the United States, with some brands and services reaching international markets.

Versant's formation followed Comcast's plan to place many of its cable-focused properties in a separate company.

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