The Insider Selling: Veritiv Corp. (VRTV) Major Shareholder Sold $75,286,579.20 in Stock

The Insider Selling: Veritiv Corp. (VRTV) Major Shareholder Sold $75,286,579.20 in Stock

Veritiv Corp. (NYSE:VRTV) major shareholder Bain Capital Investors Llc sold 1,756,160 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $42.87, for a total transaction of $75,286,579.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Shares of Veritiv Corp. (NYSE:VRTV) opened at 49.25 on Monday. Veritiv Corp. has a 52-week low of $27.44 and a 52-week high of $56.70. The company has a market cap of $788.05 million, a PE ratio of 29.53 and a beta of 1.42. The stock’s 50 day moving average is $52.33 and its 200 day moving average is $45.79.

Veritiv Corp. (NYSE:VRTV) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by $0.87. Veritiv Corp. had a net margin of 0.32% and a return on equity of 7.15%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.12 billion. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities analysts forecast that Veritiv Corp. will post $2.13 EPS for the current year.

VRTV has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Veritiv Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 12th. Vertical Research cut shares of Veritiv Corp. from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a research note on Tuesday, November 8th.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Veritiv Corp. by 4.1% in the third quarter. BlackRock Inc. now owns 2,362 shares of the company’s stock worth $118,000 after buying an additional 92 shares in the last quarter. Barclays PLC raised its stake in shares of Veritiv Corp. by 669.6% in the second quarter. Barclays PLC now owns 3,186 shares of the company’s stock worth $119,000 after buying an additional 2,772 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Veritiv Corp. during the third quarter worth approximately $122,000. Rational Advisors LLC purchased a new stake in shares of Veritiv Corp. during the second quarter worth approximately $126,000. Finally, BlackRock Advisors LLC raised its stake in shares of Veritiv Corp. by 3.3% in the second quarter. BlackRock Advisors LLC now owns 3,872 shares of the company’s stock worth $146,000 after buying an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 97.55% of the company’s stock.

About Veritiv Corp.

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