State of Wyoming Sells 13,554 Shares of Verra Mobility Corp $VRRM

Key Points

• The State of Wyoming reduced its stock position in Verra Mobility Corp (VRRM) by 58.2% in the first quarter, owning 9,738 shares worth approximately $219,000 after selling 13,554 shares.
• Institutional investors like Caitong International Asset Management and US Bancorp DE significantly increased their holdings in Verra Mobility, with one fund raising its position by 76.6%.
• Verra Mobility's recent earnings report showed a 6.1% increase in revenue year-over-year, with an earnings per share (EPS) of $0.34, exceeding analysts' expectations of $0.33.

State of Wyoming lowered its position in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 58.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,738 shares of the company's stock after selling 13,554 shares during the quarter. State of Wyoming's holdings in Verra Mobility were worth $219,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in Verra Mobility by 13,638.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,786 shares of the company's stock worth $40,000 after acquiring an additional 1,773 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Verra Mobility by 18.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,542 shares of the company's stock valued at $170,000 after buying an additional 1,161 shares during the period. US Bancorp DE lifted its position in Verra Mobility by 76.6% in the 1st quarter. US Bancorp DE now owns 7,782 shares of the company's stock valued at $175,000 after acquiring an additional 3,376 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Verra Mobility in the 1st quarter worth approximately $224,000. Finally, Quantbot Technologies LP purchased a new position in Verra Mobility in the 1st quarter valued at approximately $226,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VRRM. Wall Street Zen downgraded shares of Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Robert W. Baird boosted their price objective on shares of Verra Mobility from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $27.88.

Verra Mobility Price Performance

Shares of NASDAQ:VRRM traded down $0.32 on Monday, reaching $24.55. 360,980 shares of the company were exchanged, compared to its average volume of 1,093,603. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 102.21, a price-to-earnings-growth ratio of 2.91 and a beta of 0.80. The company has a current ratio of 2.28, a quick ratio of 2.21 and a debt-to-equity ratio of 2.93. The company has a 50-day moving average of $24.84 and a 200-day moving average of $23.54. Verra Mobility Corp has a 1-year low of $19.51 and a 1-year high of $28.25.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The company had revenue of $236.03 million during the quarter, compared to the consensus estimate of $232.78 million. Verra Mobility had a net margin of 4.30% and a return on equity of 55.14%. Verra Mobility's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share. Equities analysts forecast that Verra Mobility Corp will post 1.08 earnings per share for the current fiscal 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.