Howard Marks’s Oaktree Capital Management Lp Acquired Stake in Verso Corp

February 14, 2018 - By Rusty Cady

 Howard Marks's Oaktree Capital Management Lp Acquired Stake in Verso Corp

The New Howard Marks’s Oaktree Capital Management Lp Holding in Verso Corp

Oaktree Capital Management Lp reported SC 13G/A form with the SEC for Verso Corp. Access it here: 000095014218000406. As reported by Howard Marks’s Oaktree Capital Management Lp, the filler owns 8.5% or 2,930,339 shares of the Materials–company.

Verso Corp stake is new for [reportingPerson]. Date of activity: December 31, 2017. This shows Howard Marks’s Oaktree Capital Management Lp’s positive view for Verso Corp.

The hedge fund is investor in the Materials sector. In the manager’s last 13-F, we saw 9% of Howard Marks’s Oaktree Capital Management Lp’s portfolio is in the sector.

Verso Corp Institutional Sentiment

Filings show 5 investors own Verso Corp. The ownership in Q3 2015 is very low, at Infinity of the outstanding shares. This is increased by 56725585. 4421388 were owned by these investors. 0 funds opened new Verso Corp stakes, 0 increased positions. There were 40 that closed positions and 2 reduced them.

California Public Employees Retirement System is an investor bullish on Verso Corp, owning 62400 shares as of Q3 2015 for less than 0.01% of its portfolio. United Services Automobile Association owns 123689 shares or less than 0.01% of its portfolio. NY Quinn Opportunity Partners Llc have less than 0.01% of its portfolio for 25000 shares. Further, Oaktree Capital Management Lp reported stake worth less than 0.01% of its portfolio. The NY Aym Capital Llc owns 1831814 shares. Verso Corp is 0.62% of its portfolio.

Business Profile

Verisante Technology, Inc. is a medical device company focusing on commercializing systems for the early detection of cancer. The Company’s device, called the Verisante Aura can be used in the early detection of all forms of skin cancer, including basal cell and squamous cell carcinoma and melanoma. The Verisante Core device is based on the same platform technology as the Aura and can be used in the early detection of lung, cervical, gastrointestinal and colorectal cancers. Verisante Aura is a spectroscopy system designed to aid in the detection of skin cancer. This system provides information about the chemical composition of the skin non-invasively. Aura scans for different spectral markers. Verisante Core uses an endoscopic attachment to aid in the detection of lung, colon, cervical, and other cancers. It has completed a second Phase prototype of a rapid Multispectral Imaging camera (MSI) system for skin cancer detection.

SEC Form 13G.

Analysts await Verso Corporation (NYSE:VRS) to report earnings on March, 16. They expect $0.77 earnings per share, up 92.50 % or $0.37 from last year’s $0.4 per share. VRS’s profit will be $26.53M for 5.02 P/E if the $0.77 EPS becomes a reality. After $0.24 actual earnings per share reported by Verso Corporation for the previous quarter, Wall Street now forecasts 220.83 % EPS growth.

The stock decreased 1.02% or $0.16 during the last trading session, reaching $15.46. About 210,257 shares traded. Verso Corporation (NYSE:VRS) has 0.00% since February 14, 2017 and is . It has underperformed by 16.70% the S&P500.

Verso Corporation produces and sells coated papers in the United States. The company has market cap of $532.68 million. It operates in two divisions, Paper and Pulp. It currently has negative earnings. The firm offers coated freesheet and coated groundwood, specialty, inkjet and digital, supercalendered, and uncoated freesheet papers; and Northern Bleached Hardwood Kraft pulp to manufacture printing, writing, and specialty paper grades, as well as to manufacture tissue products.

Verso Corporation (NYSE:VRS) Ratings Coverage

Among 2 analysts covering Verso Corporation (NYSE:VRS), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Verso Corporation has $25 highest and $11.25 lowest target. $20’s average target is 29.37% above currents $15.46 stock price. Verso Corporation had 6 analyst reports since July 27, 2016 according to SRatingsIntel. BWS Financial upgraded Verso Corporation (NYSE:VRS) on Wednesday, October 18 to “Strong Buy” rating. The rating was maintained by FBR Capital with “Buy” on Wednesday, December 20. The rating was initiated by BWS Financial on Wednesday, July 27 with “Buy”. The company was maintained on Friday, November 17 by BWS Financial.

More notable recent Verso Corporation (NYSE:VRS) news were published by: Prnewswire.com which released: “Verso Corporation Announces Board Chairman Succession Plan” on October 09, 2017, also Marketwatch.com with their article: “Verso Corp. Cl A” published on March 25, 2017, Bizjournals.com published: “Verso Corp. executive resigns, to get $1.5M in benefits” on July 18, 2017. More interesting news about Verso Corporation (NYSE:VRS) were released by: Reuters.com and their article: “BRIEF-Verso Corp selects two interim co-chairmen of board​” published on October 09, 2017 as well as Prnewswire.com‘s news article titled: “Verso Corporation Expands Strategic Alternatives Considerations” with publication date: January 16, 2018.

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