State of Wyoming lifted its stake in shares of Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 109.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,292 shares of the company's stock after acquiring an additional 12,178 shares during the period. State of Wyoming's holdings in Verra Mobility were worth $563,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of VRRM. Barclays PLC increased its position in shares of Verra Mobility by 400.2% during the 3rd quarter. Barclays PLC now owns 294,457 shares of the company's stock worth $8,189,000 after purchasing an additional 235,589 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of Verra Mobility during the 4th quarter worth about $74,000. ZWJ Investment Counsel Inc. acquired a new stake in shares of Verra Mobility during the 4th quarter worth about $213,000. Perpetual Ltd increased its position in shares of Verra Mobility by 12.4% during the 4th quarter. Perpetual Ltd now owns 272,898 shares of the company's stock worth $6,599,000 after purchasing an additional 30,030 shares during the last quarter. Finally, Dakota Wealth Management increased its position in shares of Verra Mobility by 33.4% during the 4th quarter. Dakota Wealth Management now owns 10,395 shares of the company's stock worth $251,000 after purchasing an additional 2,605 shares during the last quarter.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. Robert W. Baird lifted their target price on Verra Mobility from $27.00 to $28.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Baird R W raised Verra Mobility from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd. Morgan Stanley dropped their target price on 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 dropped their target price on 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 research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Verra Mobility presently has a consensus rating of "Buy" and a consensus target price of $27.38.
Check Out Our Latest Research Report on VRRM
Insider Activity
In other news, insider Jonathan Keyser sold 18,719 shares of Verra Mobility stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $24.28, for a total value of $454,497.32. Following the completion of the transaction, the insider now owns 1,179 shares in the company, valued at approximately $28,626.12. This trade represents a 94.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.05% of the company's stock.
Verra Mobility Stock Down 1.3%
Shares of VRRM traded down $0.30 during midday trading on Friday, hitting $23.46. The company had a trading volume of 627,648 shares, compared to its average volume of 1,184,619. The company's 50-day simple moving average is $22.28 and its 200-day simple moving average is $23.55. The company has a debt-to-equity ratio of 2.13, a quick ratio of 2.52 and a current ratio of 2.61. The firm has a market capitalization of $3.74 billion, a P/E ratio of 39.10, a P/E/G ratio of 2.18 and a beta of 0.80. Verra Mobility Co. has a 1 year low of $19.51 and a 1 year high of $31.03.
Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. The business had revenue of $223.25 million during the quarter, compared to analysts' expectations of $216.94 million. Verra Mobility had a return on equity of 38.97% and a net margin of 11.64%. The business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS. As a group, sell-side analysts expect that Verra Mobility Co. will post 1.08 EPS for the current year.
About Verra Mobility
(
Free Report)
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.
Further Reading
Before you consider Verra Mobility, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Verra Mobility wasn't on the list.
While Verra Mobility currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
