Verisk Analytics, Inc. (NASDAQ: VRSK) is seeing some very cautious or at least unexciting analyst initiations now that its quiet period has ended. This post-IPO has at least held its value, which is more than many other post-IPOs can claim. The risk management suite of actuarial data came public in early-October in a $1.9 billion IPO after it sold 85.25 million shares at $22.00 per share.
It turns out that many felt it was a fully priced deal. Yet the stock popped above the pricing and has never gone back close to it. Since the deal opened, it has traded in a trading range of $26.10 to $30.00. The problem is that today’s slate of analyst initiations has failed to give investors any solid endorsement nor any solid hope of a real growth of shares.
BofA Merrill Lynch and Morgan Stanley were the lead underwriters. J.P. Morgan and Wells Fargo Securities were senior co-managers, and William Blair, Fox-Pitt Kelton, and Keefe, Bruyette & Woods were all acting co-managers.
Bank of America Merrill Lynch started it as “Neutral”
Wells Fargo started coverage as “Market Perform”
KBW has started the rating as Market Perform
Fox-Pitt Kelton started the rating as “In-Line”
The good news is that today’s share price is only down 0.4% at $28.77. But that is also on a day where the broad market is up about 1.5% and when most shares are higher.
JON C. OGG
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