Algert Global LLC Purchases 210,734 Shares of Verra Mobility Corp $VRRM

Key Points

• Algert Global LLC increased its stake in Verra Mobility Corp by 1,046.0% in the first quarter, holding 230,880 shares valued at approximately $5.20 million.
• Verra Mobility reported earnings of $0.34 EPS for the last quarter, exceeding estimates, with a revenue of $236.03 million, up 6.1% from the previous year.
• Despite recent adjustments, analysts have a generally positive outlook on Verra Mobility, with an average rating of "Buy" and a target price of $27.38.

Algert Global LLC grew its position in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 1,046.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 230,880 shares of the company's stock after acquiring an additional 210,734 shares during the quarter. Algert Global LLC owned about 0.14% of Verra Mobility worth $5,197,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of VRRM. Westwood Holdings Group Inc. boosted its holdings in shares of Verra Mobility by 28.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 4,460,793 shares of the company's stock valued at $107,862,000 after acquiring an additional 994,775 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Verra Mobility by 10.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,111,775 shares of the company's stock worth $220,323,000 after purchasing an additional 837,648 shares during the period. Sycale Advisors NY LLC acquired a new stake in Verra Mobility in the fourth quarter worth about $12,654,000. Tidal Investments LLC acquired a new stake in Verra Mobility in the fourth quarter worth about $11,755,000. Finally, Nuveen LLC acquired a new stake in Verra Mobility in the first quarter worth about $10,209,000.

Verra Mobility Trading Up 3.8%

NASDAQ VRRM traded up $0.94 on Friday, hitting $25.54. 854,032 shares of the company were exchanged, compared to its average volume of 1,038,783. The company's 50 day moving average price is $24.77 and its 200-day moving average price is $23.67. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.28 and a quick ratio of 2.21. The firm has a market capitalization of $4.07 billion, a P/E ratio of 106.42, a price-to-earnings-growth ratio of 2.88 and a beta of 0.79. Verra Mobility Corp has a twelve month low of $19.51 and a twelve month high of $28.25.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. The company had revenue of $236.03 million for the quarter, compared to the consensus estimate of $232.78 million. Verra Mobility had a return on equity of 55.14% and a net margin of 4.30%.The firm's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS. Analysts predict that Verra Mobility Corp will post 1.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VRRM has been the subject of several research analyst reports. UBS Group reduced their price objective on shares of Verra Mobility from $31.50 to $29.50 and set a "buy" rating for the company in a report on Thursday, May 8th. Wall Street Zen downgraded shares of Verra Mobility from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Robert W. Baird upped their price target on shares of Verra Mobility from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $27.88.

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.