ProShare Advisors LLC Increases Stake in Verra Mobility Co. (NASDAQ:VRRM)

ProShare Advisors LLC grew its position in shares of Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 43.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,665 shares of the company's stock after buying an additional 14,963 shares during the period. ProShare Advisors LLC's holdings in Verra Mobility were worth $1,201,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in VRRM. PNC Financial Services Group Inc. lifted its holdings in Verra Mobility by 6.8% during the fourth 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 during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Verra Mobility by 2.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 18,308 shares of the company's stock worth $443,000 after buying an additional 448 shares during the period. Exchange Traded Concepts LLC grew its stake in Verra Mobility by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 28,645 shares of the company's stock valued at $693,000 after buying an additional 725 shares in the last quarter. Xponance Inc. lifted its position in shares of Verra Mobility by 9.5% during the fourth quarter. Xponance Inc. now owns 11,865 shares of the company's stock worth $287,000 after acquiring an additional 1,025 shares in the last quarter. Finally, Summit Creek Advisors LLC boosted its holdings in shares of Verra Mobility by 0.3% in the fourth quarter. Summit Creek Advisors LLC now owns 389,923 shares of the company's stock worth $9,428,000 after acquiring an additional 1,200 shares during the period.

Analysts Set New Price Targets

A number of research firms recently issued reports on VRRM. 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 note on Thursday, March 27th. Baird R W raised shares of Verra Mobility from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Robert W. Baird boosted their price target on shares of Verra Mobility from $27.00 to $28.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, UBS Group lowered their price objective on Verra Mobility from $31.50 to $29.50 and set a "buy" rating on the stock in a research report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Verra Mobility has an average rating of "Buy" and an average price target of $27.38.

Verra Mobility Price Performance

VRRM stock traded down $0.30 during midday trading on Monday, reaching $23.46. The company had a trading volume of 627,648 shares, compared to its average volume of 1,184,619. The firm has a 50-day moving average price of $22.28 and a 200-day moving average price of $23.55. The company has a market capitalization of $3.74 billion, a P/E ratio of 39.10, a P/E/G ratio of 2.18 and a beta of 0.80. Verra Mobility Co. has a 1 year low of $19.51 and a 1 year high of $31.03. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.61 and a quick ratio of 2.52.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. Verra Mobility had a return on equity of 38.97% and a net margin of 11.64%. The business had revenue of $223.25 million during the quarter, compared to analyst estimates of $216.94 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. Verra Mobility's revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts anticipate that Verra Mobility Co. will post 1.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Verra Mobility

In other Verra Mobility 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 value of $454,497.32. Following the completion of the sale, the insider now owns 1,179 shares in the company, valued at approximately $28,626.12. The trade was a 94.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.05% of the company's stock.

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.