CenterBook Partners LP Buys 321,581 Shares of Verra Mobility Corp (NASDAQ:VRRM)

CenterBook Partners LP boosted its holdings in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 752.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364,310 shares of the company's stock after purchasing an additional 321,581 shares during the period. CenterBook Partners LP owned 0.23% of Verra Mobility worth $8,201,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd increased its holdings in Verra Mobility by 585.1% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company's stock valued at $114,000 after purchasing an additional 4,031 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Verra Mobility by 6.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company's stock valued at $154,000 after purchasing an additional 409 shares in the last quarter. US Bancorp DE increased its holdings in Verra Mobility by 76.6% during the 1st quarter. US Bancorp DE now owns 7,782 shares of the company's stock valued at $175,000 after purchasing an additional 3,376 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Verra Mobility during the 4th quarter valued at $228,000. Finally, Jefferies Financial Group Inc. bought a new position in Verra Mobility in the 1st quarter valued at $224,000.

Insiders Place Their Bets

In other news, insider Jonathan Keyser sold 18,719 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $24.28, for a total transaction of $454,497.32. Following the completion of the sale, the insider owned 1,179 shares in the company, valued at $28,626.12. The trade was a 94.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.05% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VRRM has been the topic of a number of recent research reports. Morgan Stanley decreased their price objective on Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. Baird R W upgraded Verra Mobility from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd. Wall Street Zen upgraded Verra Mobility from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 12th. Robert W. Baird raised their price target on Verra Mobility from $27.00 to $28.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, UBS Group dropped their price objective on Verra Mobility from $31.50 to $29.50 and set a "buy" rating on the stock in a research note on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $27.38.

Verra Mobility Stock Down 0.9%

Shares of Verra Mobility stock traded down $0.23 during trading on Friday, reaching $24.64. The stock had a trading volume of 654,156 shares, compared to its average volume of 1,141,798. The company has a current ratio of 2.19, a quick ratio of 2.10 and a debt-to-equity ratio of 3.45. The stock has a fifty day moving average price of $24.44 and a two-hundred day moving average price of $23.82. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 123.20, a P/E/G ratio of 2.40 and a beta of 0.77. Verra Mobility Corp has a 52 week low of $19.51 and a 52 week high of $31.03.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.01. The business had revenue of $223.25 million for the quarter, compared to the consensus estimate of $216.94 million. Verra Mobility had a return on equity of 51.05% and a net margin of 3.88%. Verra Mobility's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. Sell-side analysts predict that Verra Mobility Corp will post 1.08 EPS for the current fiscal 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.