Alberta Investment Management Corp Sells 66,009 Shares of VERRA MOBILITY CORP (NASDAQ:VRRM)

Key Points

• Alberta Investment Management Corp reduced its stake in VERRA MOBILITY CORP by 62.6%, selling 66,009 shares, and currently holds 39,488 shares valued at approximately $889,000.
• Several institutional investors increased their holdings, with Aster Capital Management boosting its stake by 585.1% and US Bancorp DE increasing it by 76.6% in the first quarter.
• Analyst ratings for VERRA MOBILITY show a shift, with Robert W. Baird raising its price target from $27.00 to $28.00 and maintaining an "outperform" rating, while UBS Group lowered its target from $31.50 to $29.50.

Alberta Investment Management Corp lessened its stake in shares of VERRA MOBILITY CORP (NASDAQ:VRRM - Free Report) by 62.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,488 shares of the company's stock after selling 66,009 shares during the quarter. Alberta Investment Management Corp's holdings in VERRA MOBILITY were worth $889,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd grew its stake in shares of VERRA MOBILITY by 585.1% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company's stock worth $114,000 after buying an additional 4,031 shares during the last quarter. US Bancorp DE grew its stake in shares of VERRA MOBILITY by 76.6% in the first quarter. US Bancorp DE now owns 7,782 shares of the company's stock worth $175,000 after purchasing an additional 3,376 shares during the last quarter. Hancock Whitney Corp bought a new stake in shares of VERRA MOBILITY in the fourth quarter worth $241,000. Oppenheimer Asset Management Inc. grew its stake in shares of VERRA MOBILITY by 32.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,451 shares of the company's stock worth $258,000 after purchasing an additional 2,823 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new stake in shares of VERRA MOBILITY in the fourth quarter worth $277,000.

Analyst Ratings Changes

VRRM has been the topic of several analyst reports. Robert W. Baird boosted their price objective on shares of VERRA MOBILITY from $27.00 to $28.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. UBS Group reduced their price objective on shares of VERRA MOBILITY from $31.50 to $29.50 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Baird R W raised shares of VERRA MOBILITY from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Finally, Wall Street Zen cut shares of VERRA MOBILITY from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $27.38.

Insider Transactions at VERRA MOBILITY

In related news, insider Jonathan Keyser sold 18,719 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $24.28, for a total transaction of $454,497.32. Following the transaction, the insider directly owned 1,179 shares of the company's stock, valued at $28,626.12. This represents a 94.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.05% of the stock is currently owned by corporate insiders.

VERRA MOBILITY Price Performance

Shares of NASDAQ VRRM opened at $24.64 on Monday. VERRA MOBILITY CORP has a twelve month low of $19.51 and a twelve month high of $29.97. The firm has a fifty day simple moving average of $24.66 and a 200 day simple moving average of $23.82. The company has a market capitalization of $3.93 billion, a PE ratio of 123.20, a P/E/G ratio of 2.37 and a beta of 0.79. The company has a quick ratio of 2.10, a current ratio of 2.19 and a debt-to-equity ratio of 3.45.

VERRA MOBILITY (NASDAQ:VRRM - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.01. VERRA MOBILITY had a net margin of 3.88% and a return on equity of 51.05%. The business had revenue of $223.25 million during the quarter, compared to the consensus estimate of $216.94 million. During the same quarter last year, the firm earned $0.27 earnings per share. VERRA MOBILITY's quarterly revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts forecast that VERRA MOBILITY CORP will post 1.08 EPS for the current year.

VERRA MOBILITY Company Profile

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe. It operates through three segments: Commercial Services, Government Solutions, and Parking Solutions. The Commercial Services segment provides automated toll and violations management, and title and registration services to rental car companies, fleet management companies, and other large fleet owners.

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