Verition Fund Management LLC Reduces Stake in Donnelley Financial Solutions, Inc. (NYSE:DFIN)

Verition Fund Management LLC lowered its position in Donnelley Financial Solutions, Inc. (NYSE:DFIN) by 58.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,583 shares of the company’s stock after selling 5,071 shares during the period. Verition Fund Management LLC’s holdings in Donnelley Financial Solutions were worth $236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd boosted its position in Donnelley Financial Solutions by 106.5% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 17,836 shares of the company’s stock worth $1,174,000 after purchasing an additional 9,197 shares in the last quarter. Great Lakes Advisors LLC raised its stake in shares of Donnelley Financial Solutions by 1,500.4% during the 2nd quarter. Great Lakes Advisors LLC now owns 71,537 shares of the company’s stock worth $4,265,000 after buying an additional 67,067 shares during the period. Sei Investments Co. raised its stake in shares of Donnelley Financial Solutions by 45.3% during the 2nd quarter. Sei Investments Co. now owns 49,644 shares of the company’s stock worth $2,960,000 after buying an additional 15,467 shares during the period. Rice Hall James & Associates LLC raised its stake in shares of Donnelley Financial Solutions by 2.8% during the 3rd quarter. Rice Hall James & Associates LLC now owns 899,567 shares of the company’s stock worth $59,218,000 after buying an additional 24,869 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Donnelley Financial Solutions by 3.1% during the 3rd quarter. Empowered Funds LLC now owns 10,768 shares of the company’s stock worth $709,000 after buying an additional 320 shares during the period. Hedge funds and other institutional investors own 93.84% of the company’s stock.

Insider Buying and Selling at Donnelley Financial Solutions

In other news, CEO Daniel Leib sold 2,881 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $70.03, for a total transaction of $201,756.43. Following the completion of the transaction, the chief executive officer now directly owns 517,810 shares in the company, valued at approximately $36,262,234.30. This represents a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey Jacobowitz sold 73,354 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $69.45, for a total value of $5,094,435.30. Following the transaction, the director now owns 1,203,451 shares of the company’s stock, valued at $83,579,671.95. This trade represents a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 424,931 shares of company stock worth $26,710,609 in the last three months. 11.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DFIN shares. B. Riley reduced their target price on Donnelley Financial Solutions from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $79.00 target price on shares of Donnelley Financial Solutions in a research note on Friday, November 1st.

Donnelley Financial Solutions Stock Up 1.6 %

NYSE DFIN opened at $62.04 on Monday. The business has a fifty day moving average price of $62.13 and a 200 day moving average price of $63.01. Donnelley Financial Solutions, Inc. has a one year low of $56.02 and a one year high of $71.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market cap of $1.79 billion, a P/E ratio of 19.39 and a beta of 1.39.

Donnelley Financial Solutions (NYSE:DFIN) last issued its earnings results on Thursday, October 31st. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.28). The company had revenue of $179.50 million during the quarter, compared to analysts’ expectations of $181.55 million. Donnelley Financial Solutions had a net margin of 12.06% and a return on equity of 22.70%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 earnings per share. Research analysts anticipate that Donnelley Financial Solutions, Inc. will post 3.23 EPS for the current fiscal year.

Donnelley Financial Solutions Profile

Donnelley Financial Solutions, Inc provides innovative software and technology-enabled financial regulatory and compliance solutions in the United States, Asia, Europe, Canada, and internationally. It operates through four segments: Capital Markets Software Solutions (CM-SS); Capital Markets Compliance and Communications Management (CM-CCM); Investment Companies Software Solutions (IC-SS); and Investment Companies Compliance and Communications Management (IC-CCM).