Swedbank AB Sells 207,000 Shares of 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 cut its stake in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 25.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 618,000 shares of the company's stock after selling 207,000 shares during the period. Swedbank AB owned about 0.39% of Verra Mobility worth $13,911,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VRRM. Caitong International Asset Management Co. Ltd grew its holdings in Verra Mobility by 13,638.5% during the 1st 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. Quarry LP grew its holdings in Verra Mobility by 361.8% during the 1st quarter. Quarry LP now owns 4,055 shares of the company's stock worth $91,000 after acquiring an additional 3,177 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Verra Mobility by 18.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,542 shares of the company's stock worth $170,000 after acquiring an additional 1,161 shares in the last quarter. US Bancorp DE grew its holdings in Verra Mobility by 76.6% during the 1st quarter. US Bancorp DE now owns 7,782 shares of the company's stock worth $175,000 after acquiring an additional 3,376 shares in the last quarter. Finally, Strs Ohio bought a new position in Verra Mobility during the 1st quarter worth about $180,000.

Wall Street Analysts Forecast Growth

VRRM has been the topic of several recent research reports. Robert W. Baird increased their target price on shares of 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 cut shares of Verra Mobility from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. One equities 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. According to data from MarketBeat.com, Verra Mobility presently has a consensus rating of "Buy" and a consensus price target of $27.88.

Verra Mobility Stock Performance

VRRM stock opened at $24.59 on Monday. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 102.46, a PEG ratio of 2.87 and a beta of 0.80. The firm has a 50-day simple moving average of $24.74 and a two-hundred day simple moving average of $23.50. 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 released its quarterly earnings results on Wednesday, August 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. The business had revenue of $236.03 million during the quarter, compared to analyst estimates of $232.78 million. Verra Mobility had a net margin of 4.30% and a return on equity of 55.14%. The company's quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 earnings per share. On average, equities analysts forecast that Verra Mobility Corp will post 1.08 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding VRRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verra Mobility Corp (NASDAQ:VRRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.