72,814 Shares in Verra Mobility Corp $VRRM Acquired by Caxton Associates LLP

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

Other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its stake in Verra Mobility by 13,638.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,786 shares of the company's stock worth $40,000 after purchasing an additional 1,773 shares during the period. Quarry LP boosted its position in shares of Verra Mobility by 361.8% during the first quarter. Quarry LP now owns 4,055 shares of the company's stock valued at $91,000 after buying an additional 3,177 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Verra Mobility by 18.2% during the first quarter. PNC Financial Services Group Inc. now owns 7,542 shares of the company's stock valued at $170,000 after buying an additional 1,161 shares during the last quarter. US Bancorp DE lifted its holdings in Verra Mobility by 76.6% during the first quarter. US Bancorp DE now owns 7,782 shares of the company's stock worth $175,000 after acquiring an additional 3,376 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in Verra Mobility during the first quarter worth $224,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wall Street Zen lowered Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Robert W. Baird boosted their target price on Verra Mobility from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $27.88.

Verra Mobility Price Performance

Verra Mobility stock traded down $0.47 during midday trading on Friday, hitting $24.59. 639,902 shares of the company's stock were exchanged, compared to its average volume of 706,005. The stock has a 50-day moving average price of $24.74 and a two-hundred day moving average price of $23.53. Verra Mobility Corp has a 52-week low of $19.51 and a 52-week high of $28.25. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.21 and a current ratio of 2.28. The company has a market cap of $3.92 billion, a P/E ratio of 102.46, a PEG ratio of 2.93 and a beta of 0.80.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. Verra Mobility had a return on equity of 55.14% and a net margin of 4.30%.The firm had revenue of $236.03 million during the quarter, compared to analysts' expectations of $232.78 million. During the same period in the prior year, the business earned $0.31 EPS. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts forecast that Verra Mobility Corp will post 1.08 earnings per share for the current year.

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.