Quantbot Technologies LP Makes New $226,000 Investment in Verra Mobility Corp $VRRM

Key Points

• Quantbot Technologies LP has acquired a new stake in Verra Mobility Corp (NASDAQ:VRRM), purchasing 10,028 shares valued at approximately $226,000.
• Several institutional investors, including Caitong International and PNC Financial Services, have significantly increased their holdings in Verra Mobility during the first quarter.
• Wall Street analysts generally maintain a positive outlook on Verra Mobility, with a consensus rating of "Buy" and a revised price target range between $29.50 and $30.00.

Quantbot Technologies LP acquired a new position in Verra Mobility Corp (NASDAQ:VRRM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,028 shares of the company's stock, valued at approximately $226,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its stake in Verra Mobility by 13,638.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,786 shares of the company's stock valued at $40,000 after acquiring an additional 1,773 shares during the period. PNC Financial Services Group Inc. raised its stake in Verra Mobility by 18.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,542 shares of the company's stock valued at $170,000 after acquiring an additional 1,161 shares during the period. US Bancorp DE raised its stake in Verra Mobility by 76.6% in the 1st quarter. US Bancorp DE now owns 7,782 shares of the company's stock valued at $175,000 after acquiring an additional 3,376 shares during the period. Jefferies Financial Group Inc. bought a new stake in Verra Mobility in the 1st quarter valued at about $224,000. Finally, Oppenheimer Asset Management Inc. raised its stake in Verra Mobility by 32.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,451 shares of the company's stock valued at $258,000 after acquiring an additional 2,823 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VRRM. Robert W. Baird boosted their price objective on Verra Mobility from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Wall Street Zen cut Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. 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 note on Thursday, May 8th. One equities research 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 presently has an average rating of "Buy" and an average target price of $27.88.

Verra Mobility Price Performance

Shares of VRRM stock traded down $0.34 during trading on Friday, hitting $24.85. The company had a trading volume of 753,968 shares, compared to its average volume of 974,766. 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 stock's 50-day moving average is $24.87 and its two-hundred day moving average is $23.64. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 103.55, a price-to-earnings-growth ratio of 2.94 and a beta of 0.79. Verra Mobility Corp has a 52 week low of $19.51 and a 52 week high of $28.25.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $236.03 million for 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%. Verra Mobility's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 earnings per share. As a group, analysts predict that Verra Mobility Corp will post 1.08 EPS 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.