Swedbank AB Trims Position in Verra Mobility Corp $VRRM

Key Points

• Swedbank AB reduced its stake in Verra Mobility Corp by 25.1% after selling 207,000 shares, bringing its total ownership down to 618,000 shares valued at approximately $13.9 million.
• Several other institutional investors increased their holdings in Verra Mobility, with Caitong International Asset Management Co. Ltd reporting a staggering 13,638.5% growth during the same quarter.
• Wall Street analysts have given Verra Mobility a consensus rating of "Buy" and a price target of $27.88, highlighting positive growth forecasts for the company.

Swedbank AB reduced its position in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 25.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 618,000 shares of the company's stock after selling 207,000 shares during the quarter. Swedbank AB owned approximately 0.39% of Verra Mobility worth $13,911,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Verra Mobility by 12.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,265,348 shares of the company's stock worth $231,074,000 after buying an additional 1,153,573 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Verra Mobility by 5.1% during the 1st quarter. Wellington Management Group LLP now owns 7,922,473 shares of the company's stock worth $178,335,000 after buying an additional 386,760 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Verra Mobility by 155.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,280,591 shares of the company's stock worth $118,866,000 after purchasing an additional 3,215,973 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Verra Mobility by 9.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 4,873,442 shares of the company's stock worth $109,701,000 after purchasing an additional 412,649 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Verra Mobility by 3.5% in the 1st quarter. Northern Trust Corp now owns 2,426,306 shares of the company's stock worth $54,616,000 after purchasing an additional 83,168 shares in the last quarter.

Verra Mobility Price Performance

NASDAQ:VRRM traded down $0.24 during mid-day trading on Friday, reaching $24.39. The stock had a trading volume of 2,172,220 shares, compared to its average volume of 775,278. The firm has a 50 day moving average price of $24.65 and a two-hundred day moving average price of $23.54. The stock has a market capitalization of $3.89 billion, a P/E ratio of 101.63, a P/E/G ratio of 2.88 and a beta of 0.80. Verra Mobility Corp has a one year low of $19.51 and a one year high of $28.25. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.21 and a current ratio of 2.28.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. The business had revenue of $236.03 million for the quarter, compared to analysts' expectations of $232.78 million. Verra Mobility had a return on equity of 55.14% and a net margin of 4.30%.The business's quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 EPS. As a group, analysts expect that Verra Mobility Corp will post 1.08 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Robert W. Baird increased their target price on Verra Mobility from $28.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. Wall Street Zen lowered Verra Mobility from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $27.88.

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.