Makaira Partners Lowers stake in Verisign (VRSN)

Verisign (VRSN) : Makaira Partners reduced its stake in Verisign by 60.9% during the most recent quarter end. The investment management company now holds a total of 225,569 shares of Verisign which is valued at $18,778,619 after selling 351,400 shares in Verisign , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Verisign makes up approximately 2.84% of Makaira Partners’s portfolio.

Other Hedge Funds, Including , Pine River Capital Management sold out all of its stake in VRSN during the most recent quarter. The investment firm sold 13,500 shares of VRSN which is valued $1,123,875. Pacad Investment Ltd. sold out all of its stake in VRSN during the most recent quarter. The investment firm sold 40,045 shares of VRSN which is valued $3,333,746. Dock Street Asset Management Inc added VRSN to its portfolio by purchasing 15,793 company shares during the most recent quarter which is valued at $1,326,454. Verisign makes up approx 1.12% of Dock Street Asset Management Inc’s portfolio. Mu Investments Ltd. added VRSN to its portfolio by purchasing 1,900 company shares during the most recent quarter which is valued at $159,581. Verisign makes up approx 0.10% of Mu Investments Ltd.’s portfolio.

Verisign opened for trading at $74.36 and hit $75.06 on the upside on Thursday, eventually ending the session at $74.81, with a gain of 0.48% or 0.36 points. The heightened volatility saw the trading volume jump to 8,89,960 shares. Company has a market cap of $7,987 M.

On the company’s financial health, Verisign reported $0.91 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.86. The company had revenue of $286.47 million for the quarter, compared to analysts expectations of $283.99 million. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS.

VeriSign Inc. is a global provider of domain name registry services and Internet security enabling Internet navigation for domain names and providing protection for Websites and enterprises around the world (Registry Services). The Company’s product suite also includes Network Intelligence and Availability (NIA) Services consisting of Distributed Denial of Service (DDoS) Protection Services Verisign iDefense Security Intelligence Services (iDefense) and Managed Domain Name System (Managed DNS) Services. The Company’s Registry Services provides the security stability and resiliency of Internet infrastructure and services including the .com and .net domains two of the Internet’s root servers and operation of the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS). The Company has operations inside as well as outside the United States.

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