Bank of New York Mellon Corp Invests $2.44 Million in Via Transportation Inc. $VIA

Key Points

• Bank of New York Mellon purchased 134,318 Via Transportation shares worth approximately $2.44 million, giving it a 0.17% stake. Institutional investors collectively own 74.4% of the company.
• Analysts maintain a generally positive view, with 12 Buy ratings, one Hold and one Sell; Via has a consensus “Moderate Buy” rating and an average price target of $37.80.
• Via reported quarterly adjusted earnings of negative $0.01 per share, beating estimates of negative $0.20, on revenue of $135.71 million. Company insiders also bought approximately $349,000 of shares during the last quarter.

Bank of New York Mellon Corp purchased a new stake in Via Transportation Inc. (NYSE:VIA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 134,318 shares of the company's stock, valued at approximately $2,437,000. Bank of New York Mellon Corp owned approximately 0.17% of Via Transportation as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE bought a new position in shares of Via Transportation during the 3rd quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Via Transportation during the 4th quarter worth about $34,000. Essential Partners LLC acquired a new position in shares of Via Transportation during the first quarter worth approximately $40,000. Strs Ohio bought a new position in Via Transportation in the 4th quarter worth approximately $52,000. Finally, Assetmark Inc. boosted its holdings in Via Transportation by 89.0% in the first quarter. Assetmark Inc. now owns 3,632 shares of the company's stock valued at $54,000 after acquiring an additional 1,710 shares during the last quarter. Institutional investors own 74.40% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VIA. Deutsche Bank Aktiengesellschaft set a $25.00 price objective on Via Transportation in a report on Wednesday, May 13th. Morgan Stanley restated an "overweight" rating and set a $24.00 target price on shares of Via Transportation in a report on Tuesday, May 12th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $24.00 price target on shares of Via Transportation in a research report on Wednesday, May 13th. Guggenheim reaffirmed a "buy" rating and issued a $50.00 target price on shares of Via Transportation in a report on Wednesday, June 17th. Finally, Oppenheimer lifted their target price on Via Transportation from $25.00 to $30.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Via Transportation currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.80.

Via Transportation Stock Down 0.1%

Shares of NYSE:VIA opened at $28.10 on Tuesday. Via Transportation Inc. has a 12-month low of $12.95 and a 12-month high of $56.31. The business has a 50 day moving average of $22.41 and a 200-day moving average of $18.13. The stock has a market cap of $2.29 billion and a PE ratio of -24.65.

Via Transportation (NYSE:VIA - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.20) by $0.19. The company had revenue of $135.71 million for the quarter. Via Transportation had a negative return on equity of 12.33% and a negative net margin of 20.04%. Equities research analysts expect that Via Transportation Inc. will post -0.8 earnings per share for the current year.

Insider Buying and Selling at Via Transportation

In other Via Transportation news, Director Nechemia Peres acquired 10,080 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was purchased at an average price of $24.74 per share, with a total value of $249,379.20. Following the acquisition, the director directly owned 40,514 shares of the company's stock, valued at approximately $1,002,316.36. This trade represents a 33.12% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel Ramot bought 3,571 shares of the firm's stock in a transaction on Tuesday, June 16th. The shares were acquired at an average price of $14.00 per share, for a total transaction of $49,994.00. Following the transaction, the chief executive officer owned 2,420,957 shares in the company, valued at approximately $33,893,398. This represents a 0.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have acquired a total of 16,984 shares of company stock worth $349,168 in the last quarter. Company insiders own 39.28% of the company's stock.

About Via Transportation

Via transforms antiquated and siloed public transportation systems into smart, data-driven, and efficient digital networks. We are addressing a striking gap in the $545 billion global public transportation market. While billions of people across the globe rely on public transportation, this critical form of mobility has yet to meaningfully benefit from recent advances in technology. Buses still follow fixed routes and schedules planned years, if not decades ago, regardless of actual demand for their service.

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