Venator Materials (VNTR) Trading Down 5.6% Following Insider Selling

Shares of Venator Materials PLC (NYSE:VNTR) dropped 5.6% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $20.10 and last traded at $20.58. Approximately 3,668,580 shares were traded during mid-day trading, an increase of 288% from the average daily volume of 944,970 shares. The stock had previously closed at $21.81.

Specifically, major shareholder Corp Huntsman sold 21,764,800 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $21.66, for a total transaction of $471,425,568.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Several equities research analysts have recently weighed in on VNTR shares. Zacks Investment Research raised Venator Materials from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Thursday, October 26th. Bank of America upped their target price on Venator Materials from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Instinet reaffirmed a “buy” rating and issued a $26.00 target price (up previously from $24.00) on shares of Venator Materials in a research report on Friday, October 13th. Goldman Sachs Group started coverage on Venator Materials in a research report on Monday, August 28th. They issued a “buy” rating and a $25.00 target price for the company. Finally, UBS started coverage on Venator Materials in a research report on Monday, August 28th. They issued a “neutral” rating and a $22.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $27.47.

The company has a debt-to-equity ratio of 0.74, a current ratio of 2.03 and a quick ratio of 1.25.

Venator Materials (NYSE:VNTR) last issued its quarterly earnings results on Friday, October 27th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.25. The business had revenue of $582.00 million during the quarter, compared to analysts’ expectations of $568.31 million. Venator Materials’s quarterly revenue was up 9.4% compared to the same quarter last year. analysts anticipate that Venator Materials PLC will post 2.04 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jennison Associates LLC purchased a new position in Venator Materials in the third quarter valued at about $47,734,000. Macquarie Group Ltd. purchased a new position in Venator Materials in the third quarter valued at about $40,841,000. Greenlight Capital Inc. purchased a new position in Venator Materials in the third quarter valued at about $38,420,000. Victory Capital Management Inc. purchased a new position in Venator Materials in the third quarter valued at about $33,036,000. Finally, Point72 Asset Management L.P. purchased a new position in Venator Materials in the third quarter valued at about $28,675,000. 23.20% of the stock is owned by hedge funds and other institutional investors.

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About Venator Materials

Venator Materials PLC is a manufacturer and marketer of chemical products. The Company is engaged in manufacturing titanium dioxide (TiO2), functional additives, color pigments, timber treatment and water treatment products. It operates through two segments: Titanium Dioxide and Performance Additives.

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