Insider Buying: Skillsoft (NYSE:SKIL) CEO Acquires 2,691 Shares of Stock

Skillsoft Corp. (NYSE:SKIL) CEO Ronald Hovsepian purchased 2,691 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The stock was bought at an average cost of $6.17 per share, for a total transaction of $16,603.47. Following the purchase, the chief executive officer owned 349,969 shares in the company, valued at $2,159,308.73. This represents a 0.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Skillsoft Stock Down 3.1%

Skillsoft stock traded down $0.19 during mid-day trading on Monday, hitting $6.00. 70,612 shares of the company were exchanged, compared to its average volume of 147,121. The business has a fifty day moving average of $7.05 and a 200 day moving average of $6.41. Skillsoft Corp. has a 1-year low of $3.43 and a 1-year high of $18.45. The company has a market capitalization of $54.60 million, a PE ratio of -0.32, a price-to-earnings-growth ratio of 0.20 and a beta of 2.22.

Skillsoft (NYSE:SKIL) last issued its earnings results on Wednesday, September 9th. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $0.83 by $0.34. Skillsoft had a negative net margin of 36.13% and a negative return on equity of 74.19%. The company had revenue of $98.25 million for the quarter, compared to the consensus estimate of $99.00 million. Research analysts expect that Skillsoft Corp. will post 3.05 earnings per share for the current year.

Institutional Trading of Skillsoft

Hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new position in Skillsoft during the 2nd quarter worth about $98,000. Renaissance Technologies LLC raised its stake in shares of Skillsoft by 11.1% in the first quarter. Renaissance Technologies LLC now owns 61,009 shares of the company’s stock worth $262,000 after acquiring an additional 6,100 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Skillsoft by 23.7% in the first quarter. Bank of New York Mellon Corp now owns 15,561 shares of the company’s stock worth $67,000 after acquiring an additional 2,985 shares during the last quarter. 87.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings upgraded shares of Skillsoft from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. Oppenheimer reiterated a “market perform” rating on shares of Skillsoft in a research note on Thursday, September 10th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Skillsoft Company Profile

Skillsoft Corporation (NYSE: SKIL) is a provider of digital learning and talent-development solutions for businesses, government organizations and other institutions. The company offers online courses, learning paths, assessments and related tools designed to help organizations develop employee skills and support workforce transformation.

Its offerings cover areas such as leadership and business skills, technology and software development, cybersecurity, compliance, productivity and professional certifications.