Sovereign s Capital Management LLC Makes New $1.19 Million Investment in Verra Mobility Co. (NASDAQ:VRRM)

Sovereign s Capital Management LLC bought a new stake in Verra Mobility Co. (NASDAQ:VRRM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 49,069 shares of the company's stock, valued at approximately $1,186,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC grew its stake in shares of Verra Mobility by 245.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company's stock valued at $56,000 after buying an additional 1,640 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Verra Mobility in the fourth quarter valued at $74,000. Aster Capital Management DIFC Ltd grew its stake in shares of Verra Mobility by 585.1% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company's stock valued at $114,000 after buying an additional 4,031 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Verra Mobility in the fourth quarter valued at $129,000. Finally, PNC Financial Services Group Inc. boosted its position 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 worth $154,000 after purchasing an additional 409 shares during the period.

Insiders Place Their Bets

In other Verra Mobility news, insider Jonathan Keyser sold 18,719 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $24.28, for a total transaction of $454,497.32. Following the completion of the transaction, the insider now owns 1,179 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.05% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on VRRM. Baird R W raised shares of Verra Mobility from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd. Robert W. Baird lifted their price objective on shares of Verra Mobility from $27.00 to $28.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Morgan Stanley reduced their price objective on shares of Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Finally, UBS Group reduced their price objective on shares of Verra Mobility from $31.50 to $29.50 and set a "buy" rating for the company in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $27.38.

Verra Mobility Stock Performance

Shares of Verra Mobility stock traded down $0.30 during trading on Friday, reaching $23.46. The company's stock had a trading volume of 627,648 shares, compared to its average volume of 1,184,215. The business's 50-day moving average price is $22.28 and its 200-day moving average price is $23.55. The firm has a market cap of $3.74 billion, a PE ratio of 39.10, a P/E/G ratio of 2.18 and a beta of 0.80. Verra Mobility Co. has a 52 week low of $19.51 and a 52 week high of $31.03. The company has a quick ratio of 2.52, a current ratio of 2.61 and a debt-to-equity ratio of 2.13.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.01. The company had revenue of $223.25 million during the quarter, compared to analysts' expectations of $216.94 million. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. Verra Mobility's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 earnings per share. Equities analysts forecast that Verra Mobility Co. will post 1.08 earnings per share for the current 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.