Select Equity Group L.P. Increases Position in Verra Mobility Corp $VRRM

Key Points

• Select Equity Group L.P. increased its stake in Verra Mobility Corp by 517.5% in Q1, now holding about 0.33% of the company valued at $11.99 million.
• Several hedge funds have significantly raised their positions in Verra Mobility, with Caitong International Asset Management increasing its stake by a staggering 13,638.5%.
• Verra Mobility reported $0.34 EPS for the quarter, exceeding analysts' expectations, with revenue up by 6.1% year-over-year.

Select Equity Group L.P. raised its position in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 517.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 532,704 shares of the company's stock after purchasing an additional 446,441 shares during the quarter. Select Equity Group L.P. owned 0.33% of Verra Mobility worth $11,991,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Xponance Inc. raised its position in Verra Mobility by 4.9% in the 1st quarter. Xponance Inc. now owns 12,451 shares of the company's stock worth $280,000 after purchasing an additional 586 shares during the period. Townsquare Capital LLC increased its stake in Verra Mobility by 5.9% in the first quarter. Townsquare Capital LLC now owns 12,110 shares of the company's stock worth $273,000 after purchasing an additional 674 shares during the period. HighTower Advisors LLC boosted its stake in shares of Verra Mobility by 7.9% during the first quarter. HighTower Advisors LLC now owns 12,433 shares of the company's stock valued at $280,000 after purchasing an additional 911 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Verra Mobility by 18.2% during the first quarter. PNC Financial Services Group Inc. now owns 7,542 shares of the company's stock valued at $170,000 after purchasing an additional 1,161 shares during the period. Finally, Cetera Investment Advisers boosted its stake in shares of Verra Mobility by 9.8% during the fourth quarter. Cetera Investment Advisers now owns 13,695 shares of the company's stock valued at $331,000 after purchasing an additional 1,218 shares during the period.

Wall Street Analysts Forecast Growth

VRRM has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Robert W. Baird lifted their price target on shares of Verra Mobility from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Verra Mobility presently has a consensus rating of "Buy" and an average target price of $27.88.

Verra Mobility Stock Down 1.3%

NASDAQ:VRRM traded down $0.32 during trading hours on Friday, reaching $24.74. The company's stock had a trading volume of 198,126 shares, compared to its average volume of 1,084,629. The company has a market capitalization of $3.95 billion, a P/E ratio of 103.09, a price-to-earnings-growth ratio of 2.84 and a beta of 0.80. Verra Mobility Corp has a 12 month low of $19.51 and a 12 month high of $28.25. 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 stock has a 50 day moving average price of $24.76 and a two-hundred day moving average price of $23.54.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced 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. Verra Mobility had a return on equity of 55.14% and a net margin of 4.30%.The business had revenue of $236.03 million for the quarter, compared to the consensus estimate of $232.78 million. During the same period last year, the business posted $0.31 EPS. The business's revenue was up 6.1% compared to the same quarter last year. Equities analysts predict that Verra Mobility Corp will post 1.08 EPS for the current fiscal year.

Verra Mobility 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.