Westport takes new $1.53M stake in data firm Verisk
What's the deal? Westport Asset ManagementDealroom has a profile for this one. Try Dealroom → acquired a new stake in Verisk AnalyticsDealroom has a profile for this one. Try Dealroom → (NASDAQ:VRSK) during the second quarter, buying 8,500 shares worth about $1,526,000, according to Holdings Channel. VeriskDealroom has a profile for this one. Try Dealroom → provides data analytics services to businesses, primarily in insurance.
Who else is buying? Bigger names moved harder. BlackRock opened a new position worth roughly $1.85 billion in the second quarter, and Capital International InvestorsDealroom has a profile for this one. Try Dealroom → lifted its holdings by 1,200.9% in the fourth quarter to 3,264,323 shares valued at $730,196,000.
Norges BankDealroom has a profile for this one. Try Dealroom →, Deutsche BankDealroom has a profile for this one. Try Dealroom →, and Bank of New York MellonDealroom has a profile for this one. Try Dealroom → also opened new positions. Institutional investors and hedge funds now own 90% of the stock.
What analysts think: Views are split. Wells Fargo raised its target to $260 with an "overweight" rating, while Bank of America cut its target to $190 and stayed "neutral."
The consensus is a "Hold" with a target price of $236.27, drawn from one Strong Buy, six Buy, seven Hold, and one Sell.
What could go wrong? Insiders have been selling. Chief executive officer Lee Shavel sold 3,535 shares on August 3 at an average $196.94, and insider Kathy Card Beckles sold 2,020 shares on July 31. Over the past 90 days, insiders sold 24,562 shares worth $4,575,075.
The numbers: Verisk opened at $186.45 on Thursday, up 4.2%, giving it a market capitalisation of $24.27 billion. The stock carries a debt-to-equity ratio of 10.42 and trades near its 200-day moving average of $185.66.
The signal: Heavy institutional ownership and steady analyst interest point to confidence in Verisk's data business, but insider selling and a share price below several targets show the market is far from unanimous.
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