Verra Mobility Corp (NASDAQ:VRRM) Shares Sold by Alberta Investment Management Corp

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 reduced its position in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 62.6% during the 1st quarter, according to its most recent filing with the SEC. The firm 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 filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Sunriver Management LLC purchased a new stake in shares of Verra Mobility in the 4th quarter worth about $33,503,000. Westwood Holdings Group Inc. lifted its holdings in Verra Mobility by 28.7% in the 4th quarter. Westwood Holdings Group Inc. now owns 4,460,793 shares of the company's stock valued at $107,862,000 after purchasing an additional 994,775 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Verra Mobility by 10.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,111,775 shares of the company's stock valued at $220,323,000 after purchasing an additional 837,648 shares in the last quarter. Sycale Advisors NY LLC purchased a new position in Verra Mobility in the 4th quarter valued at about $12,654,000. Finally, Tidal Investments LLC purchased a new position in Verra Mobility in the 4th quarter valued at about $11,755,000.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VRRM. UBS Group dropped their price objective on shares of Verra Mobility from $31.50 to $29.50 and set a "buy" rating for the company 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. Robert W. Baird upped their price objective on shares of Verra Mobility from $27.00 to $28.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen downgraded shares of Verra Mobility from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $27.38.

Verra Mobility Stock Down 3.5%

VRRM traded down $0.87 during trading on Thursday, hitting $24.09. The company had a trading volume of 1,792,956 shares, compared to its average volume of 1,131,635. The company has a market cap of $3.84 billion, a PE ratio of 120.47, a P/E/G ratio of 2.41 and a beta of 0.79. The business has a 50-day moving average of $24.73 and a 200-day moving average of $23.84. The company has a debt-to-equity ratio of 3.45, a current ratio of 2.19 and a quick ratio of 2.10. Verra Mobility Corp has a 1-year low of $19.51 and a 1-year high of $29.07.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. Verra Mobility had a return on equity of 51.05% and a net margin of 3.88%. The firm had revenue of $223.25 million for the quarter, compared to analysts' expectations of $216.94 million. During the same period last year, the business posted $0.27 earnings per share. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts forecast that Verra Mobility Corp will post 1.08 earnings per share for the current year.

Insider Transactions at Verra Mobility

In other Verra Mobility news, insider Jonathan Keyser sold 18,719 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $24.28, for a total value of $454,497.32. Following the sale, the insider directly owned 1,179 shares in the company, valued at approximately $28,626.12. This trade represents a 94.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.05% of the company's stock.

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.