Caxton Associates LLP Acquires New Holdings in Verra Mobility Corp $VRRM

Key Points

• Caxton Associates LLP has acquired a new stake in Verra Mobility Corp (NASDAQ:VRRM) worth approximately $1.64 million, purchasing 72,814 shares in the first quarter.
• Verra Mobility reported a quarterly earnings per share (EPS) of $0.34, exceeding analyst expectations of $0.33, with a year-over-year revenue increase of 6.1%.
• Several institutional investors, including Price T Rowe Associates and Westwood Holdings Group, have significantly increased their stakes in Verra Mobility, indicating growing confidence in the company.

Caxton Associates LLP purchased a new position in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 72,814 shares of the company's stock, valued at approximately $1,639,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VRRM. Price T Rowe Associates Inc. MD boosted its holdings in Verra Mobility by 12.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,265,348 shares of the company's stock worth $231,074,000 after purchasing an additional 1,153,573 shares during the last quarter. Westwood Holdings Group Inc. raised its position in Verra Mobility by 28.7% in the fourth quarter. Westwood Holdings Group Inc. now owns 4,460,793 shares of the company's stock worth $107,862,000 after acquiring an additional 994,775 shares during the period. Sunriver Management LLC raised its position in Verra Mobility by 38.6% in the first quarter. Sunriver Management LLC now owns 1,920,395 shares of the company's stock worth $43,228,000 after acquiring an additional 534,810 shares during the period. Sycale Advisors NY LLC bought a new stake in Verra Mobility in the fourth quarter worth about $12,654,000. Finally, Tidal Investments LLC bought a new stake in Verra Mobility in the fourth quarter worth about $11,755,000.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of Verra Mobility from $28.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Wall Street Zen lowered shares of Verra Mobility from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. One investment 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 stock. Based on data from MarketBeat, Verra Mobility currently has a consensus rating of "Buy" and an average price target of $27.88.

Verra Mobility Stock Performance

Shares of NASDAQ VRRM traded up $0.11 during midday trading on Monday, hitting $24.70. The company's stock had a trading volume of 112,977 shares, compared to its average volume of 1,081,509. The stock has a fifty day moving average price of $24.74 and a 200 day moving average price of $23.50. Verra Mobility Corp has a one year low of $19.51 and a one year high of $28.25. The company has a current ratio of 2.28, a quick ratio of 2.21 and a debt-to-equity ratio of 2.93. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 102.84, a P/E/G ratio of 2.87 and a beta of 0.80.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $236.03 million during 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 earnings per share. On average, research analysts forecast that Verra Mobility Corp will post 1.08 EPS for the current fiscal 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.