Invesco Ltd. Sells 644,058 Shares of Verra Mobility Corp $VRRM

Key Points

• Invesco Ltd. has reduced its stake in Verra Mobility Corp by 55.3%, selling 644,058 shares and now holding approximately 520,696 shares valued at $11.7 million.
• Verra Mobility's shares saw a 3.8% increase recently, with the stock currently trading at $25.54 and a market capitalization of $4.07 billion.
• The company reported earnings of $0.34 per share for the last quarter, surpassing analysts' estimates and showing a revenue increase of 6.1% year-over-year.

Invesco Ltd. decreased its stake in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 55.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 520,696 shares of the company's stock after selling 644,058 shares during the period. Invesco Ltd. owned 0.33% of Verra Mobility worth $11,721,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in VRRM. Westwood Holdings Group Inc. increased its stake in shares of 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 purchasing an additional 994,775 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Verra Mobility by 10.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,111,775 shares of the company's stock valued at $220,323,000 after acquiring an additional 837,648 shares in the last quarter. Sycale Advisors NY LLC purchased a new position in Verra Mobility during the fourth quarter valued at approximately $12,654,000. Tidal Investments LLC purchased a new position in Verra Mobility during the fourth quarter valued at approximately $11,755,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Verra Mobility by 25.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,064,618 shares of the company's stock valued at $49,922,000 after acquiring an additional 421,377 shares in the last quarter.

Verra Mobility Stock Performance

NASDAQ:VRRM remained flat at $24.96 during midday trading on Tuesday. 888,560 shares of the company were exchanged, compared to its average volume of 1,005,362. The business has a 50 day moving average of $24.80 and a two-hundred day moving average of $23.64. Verra Mobility Corp has a 52 week low of $19.51 and a 52 week high of $28.25. The company has a quick ratio of 2.21, a current ratio of 2.28 and a debt-to-equity ratio of 2.93. The firm has a market capitalization of $3.98 billion, a PE ratio of 104.00, a P/E/G ratio of 2.92 and a beta of 0.79.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The firm 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%. The company's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $0.31 EPS. On average, analysts predict that Verra Mobility Corp will post 1.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. UBS Group reduced their price objective on shares of Verra Mobility from $31.50 to $29.50 and set a "buy" rating for the company in a research note on Thursday, May 8th. Robert W. Baird boosted their price target on shares of Verra Mobility from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Finally, Wall Street Zen cut shares of Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $27.88.

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.