Harbour Capital Advisors LLC Invests $365,000 in Verra Mobility Corp $VRRM

Key Points

• Harbour Capital Advisors LLC acquired 14,300 shares of Verra Mobility Corp, valued at approximately $365,000, during the second quarter, as noted in their 13F filing.
• Multiple hedge funds have increased their stakes in Verra Mobility, with US Bancorp DE and UBS AM making notable purchases that significantly boosted their holdings.
• Analysts generally maintain a positive outlook on Verra Mobility, with an average rating of "Buy" and a consensus price target of $27.88, following recently raised price objectives by some firms.

Harbour Capital Advisors LLC acquired a new position in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 14,300 shares of the company's stock, valued at approximately $365,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VRRM. Cetera Investment Advisers increased its position in shares of Verra Mobility by 9.8% during the 4th quarter. Cetera Investment Advisers now owns 13,695 shares of the company's stock worth $331,000 after purchasing an additional 1,218 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Verra Mobility by 11.3% during the 4th quarter. Nuveen Asset Management LLC now owns 453,506 shares of the company's stock worth $10,966,000 after purchasing an additional 46,202 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Verra Mobility by 25.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,064,618 shares of the company's stock worth $49,922,000 after purchasing an additional 421,377 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Verra Mobility by 14.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 262,479 shares of the company's stock worth $6,347,000 after purchasing an additional 32,627 shares during the last quarter. Finally, Armis Advisers LLC acquired a new stake in shares of Verra Mobility during the 4th quarter worth about $307,000.

Verra Mobility Stock Down 0.7%

VRRM stock traded down $0.18 during mid-day trading on Tuesday, reaching $24.28. The company had a trading volume of 162,264 shares, compared to its average volume of 1,086,778. 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 capitalization of $3.87 billion, a price-to-earnings ratio of 101.36, a price-to-earnings-growth ratio of 2.85 and a beta of 0.80. The firm has a fifty day simple moving average of $24.64 and a 200 day simple moving average of $23.59. Verra Mobility Corp has a fifty-two week low of $19.51 and a fifty-two week high of $28.25.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VRRM. Robert W. Baird raised their price objective on 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 Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $27.88.

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.