State of Wyoming Raises Stake in Verra Mobility Co. (NASDAQ:VRRM)

State of Wyoming lifted its stake in shares of Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 109.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,292 shares of the company's stock after acquiring an additional 12,178 shares during the quarter. State of Wyoming's holdings in Verra Mobility were worth $563,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in Verra Mobility by 245.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company's stock worth $56,000 after purchasing an additional 1,640 shares during the period. Avanza Fonder AB acquired a new position in shares of Verra Mobility during the fourth quarter worth about $74,000. Aster Capital Management DIFC Ltd increased its stake in shares of Verra Mobility by 585.1% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company's stock worth $114,000 after buying an additional 4,031 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Verra Mobility during the fourth quarter worth approximately $129,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of 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 buying an additional 409 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VRRM. Morgan Stanley cut their target price on shares of 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 upgraded shares of Verra Mobility from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Robert W. Baird upped their target price on shares of Verra Mobility from $27.00 to $28.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, UBS Group cut their target price on shares of 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 analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $27.38.

Insiders Place Their Bets

In other Verra Mobility news, insider Jonathan Keyser sold 18,719 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $24.28, for a total transaction of $454,497.32. Following the sale, the insider now owns 1,179 shares of the company's stock, valued at approximately $28,626.12. This trade represents a 94.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.05% of the stock is owned by corporate insiders.

Verra Mobility Stock Down 2.6%

VRRM stock traded down $0.64 during midday trading on Wednesday, reaching $23.89. 904,710 shares of the company were exchanged, compared to its average volume of 1,185,063. The company has a debt-to-equity ratio of 2.13, a quick ratio of 2.52 and a current ratio of 2.61. Verra Mobility Co. has a 1-year low of $19.51 and a 1-year high of $31.03. The stock's 50-day simple moving average is $22.16 and its 200 day simple moving average is $23.54. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 39.82, a price-to-earnings-growth ratio of 2.18 and a beta of 0.80.

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