Verra Mobility Corp (NASDAQ:VRRM) Shares Sold by Telemark Asset Management LLC

Key Points

• Telemark Asset Management LLC significantly reduced its stake in Verra Mobility Corp, selling 400,000 shares and lowering its ownership by 66.7% in the first quarter.
• Several other institutional investors, including US Bancorp DE and PNC Financial Services, increased their positions in Verra Mobility, indicating varied investment strategies among funds.
• Verra Mobility's earnings surpassed analyst expectations with a reported $0.34 EPS, alongside revenue growth of 6.1% year-over-year, highlighting robust financial performance.

Telemark Asset Management LLC reduced its stake in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 66.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 200,000 shares of the company's stock after selling 400,000 shares during the period. Telemark Asset Management LLC owned approximately 0.13% of Verra Mobility worth $4,502,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VRRM. Xponance Inc. increased its position in Verra Mobility by 4.9% during the first quarter. Xponance Inc. now owns 12,451 shares of the company's stock worth $280,000 after buying an additional 586 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Verra Mobility by 18.2% during the first quarter. PNC Financial Services Group Inc. now owns 7,542 shares of the company's stock valued at $170,000 after acquiring an additional 1,161 shares during the period. Cetera Investment Advisers grew its position in Verra Mobility by 9.8% during the fourth quarter. Cetera Investment Advisers now owns 13,695 shares of the company's stock valued at $331,000 after acquiring an additional 1,218 shares during the period. Knights of Columbus Asset Advisors LLC grew its position in Verra Mobility by 2.7% during the first quarter. Knights of Columbus Asset Advisors LLC now owns 48,064 shares of the company's stock valued at $1,082,000 after acquiring an additional 1,269 shares during the period. Finally, MetLife Investment Management LLC grew its position in Verra Mobility by 1.9% during the fourth quarter. MetLife Investment Management LLC now owns 97,915 shares of the company's stock valued at $2,368,000 after acquiring an additional 1,855 shares during the period.

Verra Mobility Stock Up 1.5%

VRRM stock traded up $0.36 during midday trading on Tuesday, hitting $24.05. 204,411 shares of the company's stock were exchanged, compared to its average volume of 1,131,758. The company has a current ratio of 2.28, a quick ratio of 2.21 and a debt-to-equity ratio of 2.93. Verra Mobility Corp has a 12-month low of $19.51 and a 12-month high of $28.25. The firm has a 50 day moving average price of $24.74 and a 200-day moving average price of $23.76. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 100.21, a price-to-earnings-growth ratio of 2.77 and a beta of 0.79.

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

Wall Street Analyst Weigh In

VRRM has been the subject of a number of research reports. Robert W. Baird boosted their price target on Verra Mobility from $27.00 to $28.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded Verra Mobility from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. UBS Group dropped their target price on Verra Mobility from $31.50 to $29.50 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, Baird R W upgraded Verra Mobility from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Verra Mobility presently has a consensus rating of "Buy" and a consensus price target of $27.38.

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.