Equitable Trust Co. Grows Position in Verra Mobility Corp $VRRM

Key Points

• Equitable Trust Co. has increased its holdings in Verra Mobility Corp (NASDAQ: VRRM) by 52.0%, now owning 53,150 shares valued at approximately $1.35 million.
• Verra Mobility's share price opened at $24.22 with a market capitalization of $3.86 billion, and has a target price of $27.88 suggested by analysts.
• The company reported a quarterly earnings per share (EPS) of $0.34, exceeding expectations, with revenue of $236.03 million, representing a 6.1% year-over-year increase.

Equitable Trust Co. raised its holdings in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 52.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,150 shares of the company's stock after purchasing an additional 18,182 shares during the quarter. Equitable Trust Co.'s holdings in Verra Mobility were worth $1,349,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in Verra Mobility by 46.6% during the second quarter. Farther Finance Advisors LLC now owns 1,447 shares of the company's stock valued at $37,000 after purchasing an additional 460 shares during the last quarter. CWM LLC increased its position in shares of Verra Mobility by 112.2% during the second quarter. CWM LLC now owns 1,509 shares of the company's stock valued at $38,000 after buying an additional 798 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of 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 valued at $40,000 after buying an additional 1,773 shares during the period. Quarry LP increased 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 period. Finally, GAMMA Investing LLC increased its position in shares of Verra Mobility by 11.6% during the second quarter. GAMMA Investing LLC now owns 4,128 shares of the company's stock valued at $105,000 after buying an additional 430 shares during the period.

Wall Street Analysts Forecast Growth

VRRM has been the topic of several analyst reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Verra Mobility in a research report on Wednesday, October 8th. Wall Street Zen cut Verra Mobility from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Robert W. Baird upped their price target on Verra Mobility from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Verra Mobility currently has a consensus rating of "Moderate Buy" and an average target price of $27.88.

Verra Mobility Trading Up 0.8%

Shares of VRRM opened at $24.22 on Wednesday. The firm's 50 day simple moving average is $24.43 and its 200 day simple moving average is $23.97. The company has a market capitalization of $3.86 billion, a P/E ratio of 100.92, a P/E/G ratio of 2.81 and a beta of 0.77. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.28 and a quick ratio of 2.21. Verra Mobility Corp has a 1-year low of $19.51 and a 1-year high of $27.83.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced 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 business had revenue of $236.03 million for the quarter, compared to the consensus estimate of $232.78 million. Verra Mobility had a net margin of 4.30% and a return on equity of 55.14%. Verra Mobility's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $0.31 earnings per share. Sell-side analysts forecast that Verra Mobility Corp will post 1.08 earnings per share for the current fiscal year.

About Verra Mobility

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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