Select Equity Group L.P. Has $11.99 Million Stake 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 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 about 0.33% of Verra Mobility worth $11,991,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its holdings 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 worth $40,000 after buying an additional 1,773 shares in the last quarter. Quarry LP grew its stake in shares of Verra Mobility by 361.8% in the first quarter. Quarry LP now owns 4,055 shares of the company's stock worth $91,000 after purchasing an additional 3,177 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings 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. US Bancorp DE increased its holdings in shares of Verra Mobility by 76.6% during the first quarter. US Bancorp DE now owns 7,782 shares of the company's stock valued at $175,000 after purchasing an additional 3,376 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Verra Mobility during the first quarter valued at about $224,000.

Wall Street Analyst Weigh In

Several equities analysts have commented on VRRM shares. 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. Robert W. Baird increased their price objective on shares of Verra Mobility from $28.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $27.88.

Verra Mobility Price Performance

Shares of NASDAQ:VRRM traded down $0.16 during trading hours on Wednesday, hitting $24.26. 853,952 shares of the company's stock traded hands, compared to its average volume of 1,092,356. 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 company's fifty day simple moving average is $24.80 and its two-hundred day simple moving average is $23.54. Verra Mobility Corp has a 52 week low of $19.51 and a 52 week high of $28.25. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 101.09, a price-to-earnings-growth ratio of 2.86 and a beta of 0.80.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates 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 firm's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. As a group, equities analysts anticipate that Verra Mobility Corp will post 1.08 EPS for the current fiscal year.

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.