AlphaQuest LLC Raises Stock Position in Verra Mobility Corp $VRRM

Key Points

• AlphaQuest LLC significantly increased its stake in Verra Mobility Corp by 331.0% in the first quarter, owning 29,890 shares valued at approximately $673,000.
• Verra Mobility reported earnings of $0.34 per share for the last quarter, surpassing analysts' estimates of $0.33, and experienced 6.1% year-over-year revenue growth.
• The stock is currently down 2.3%, with a market capitalization of $3.98 billion and a price-to-earnings ratio of 104.00.

AlphaQuest LLC increased its stake in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 331.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,890 shares of the company's stock after purchasing an additional 22,955 shares during the quarter. AlphaQuest LLC's holdings in Verra Mobility were worth $673,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Verra Mobility by 12.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,265,348 shares of the company's stock worth $231,074,000 after acquiring an additional 1,153,573 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Verra Mobility by 5.1% during the 1st quarter. Wellington Management Group LLP now owns 7,922,473 shares of the company's stock worth $178,335,000 after acquiring an additional 386,760 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Verra Mobility by 9.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 4,873,442 shares of the company's stock worth $109,701,000 after acquiring an additional 412,649 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Verra Mobility by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,268,729 shares of the company's stock worth $79,037,000 after acquiring an additional 71,031 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Verra Mobility by 3.5% during the 1st quarter. Northern Trust Corp now owns 2,426,306 shares of the company's stock worth $54,616,000 after acquiring an additional 83,168 shares during the last quarter.

Verra Mobility Stock Down 2.3%

VRRM opened at $24.96 on Tuesday. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.21 and a current ratio of 2.28. Verra Mobility Corp has a fifty-two week low of $19.51 and a fifty-two week high of $28.25. The firm's fifty day moving average is $24.78 and its 200 day moving average is $23.63. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 104.00, a price-to-earnings-growth ratio of 2.99 and a beta of 0.79.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last released 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 analysts' expectations of $232.78 million. Verra Mobility had a net margin of 4.30% and a return on equity of 55.14%. Verra Mobility's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 EPS. On average, sell-side analysts forecast that Verra Mobility Corp will post 1.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on VRRM. UBS Group dropped their price target 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. Robert W. Baird lifted their price target on shares of Verra Mobility from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. 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 Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $27.88.

Verra Mobility 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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