Nuveen LLC Acquires New Stake in Verra Mobility Corp $VRRM

Key Points

• Nuveen LLC acquired 453,541 shares of Verra Mobility Corp, representing a new investment of approximately $10.21 million, which accounts for about 0.28% of the company.
• Several institutional investors increased their stakes in Verra Mobility during the first quarter, with GAMMA Investing LLC notably raising its position by 2,258.8%.
• In recent analyst reports, UBS lowered its price target for Verra Mobility from $31.50 to $29.50, while Robert W. Baird increased it to $30.00, reflecting a mix of outlooks on the stock's performance.

Nuveen LLC purchased a new stake in Verra Mobility Corp (NASDAQ:VRRM - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 453,541 shares of the company's stock, valued at approximately $10,209,000. Nuveen LLC owned approximately 0.28% of Verra Mobility as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VRRM. Westwood Holdings Group Inc. lifted its stake in Verra Mobility by 28.7% in the fourth quarter. Westwood Holdings Group Inc. now owns 4,460,793 shares of the company's stock valued at $107,862,000 after buying an additional 994,775 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Verra Mobility by 10.1% in 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 buying an additional 837,648 shares during the last quarter. Sycale Advisors NY LLC purchased a new stake in Verra Mobility in the fourth quarter valued at approximately $12,654,000. Tidal Investments LLC purchased a new stake in Verra Mobility in the fourth quarter valued at approximately $11,755,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Verra Mobility by 25.6% in 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 buying an additional 421,377 shares during the last quarter.

Verra Mobility Stock Performance

NASDAQ:VRRM remained flat at $24.96 during trading hours on Tuesday. The company's stock had a trading volume of 812,972 shares, compared to its average volume of 1,114,436. The company has a 50-day moving average price of $24.78 and a 200-day moving average price of $23.63. The firm has a market capitalization of $3.98 billion, a P/E ratio of 104.00, a PEG ratio of 2.99 and a beta of 0.79. 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 $28.25.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.34 earnings per share (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 return on equity of 55.14% and a net margin of 4.30%.Verra Mobility's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 earnings per share. As a group, analysts predict that Verra Mobility Corp will post 1.08 EPS for the current fiscal year.

Analyst Ratings Changes

VRRM has been the subject of a number of research reports. UBS Group reduced their price objective on Verra Mobility from $31.50 to $29.50 and set a "buy" rating for the company in a research note on Thursday, May 8th. Wall Street Zen cut Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Robert W. Baird upped their price target on Verra Mobility from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. One 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 MarketBeat.com, the company presently 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.