Friday, January 12, 2018 10:15 PM ET
Verso (VRS) sees Significant Insider Selling Continuing
A filing with the SEC today disclosed a notable insider sale of Verso shares as — Mudrick Capital Management Lp, 10% Owner — sold 300,000 shares in the company having a market value of approximately $5,006,500. There was one insider buy/sell transaction in the past 90 days prior to this transaction which resulted in the sale of 798,849 shares. Adding the most recent activity to this 90-day history indicates insider trades have been net sales of 1,098,849 shares and have averaged 549,425 shares per transaction over this time period.
During the last 90 days, the number of insider buy/sell trades at Verso is above the 5-company peer group average. Paper Mills & Products peer group saw 4 buy/sell trades during this period for an average of 0.8 transactions per company. The number of shares per buy/sell trade for Verso insiders was also higher. Within the peer group there were 0 shares purchased and 1,606,372 shares sold with company insiders disposing of 401,593 shares on average.
To bring into focus significant insider buying and selling activity, all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers has been eliminated in data used to create and write this story.
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