Tidal Investments LLC Makes New Investment in Verra Mobility Co. (NASDAQ:VRRM)

Tidal Investments LLC bought a new position in Verra Mobility Co. (NASDAQ:VRRM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 486,164 shares of the company's stock, valued at approximately $11,755,000. Tidal Investments LLC owned approximately 0.30% of Verra Mobility at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in shares of Verra Mobility by 245.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company's stock valued at $56,000 after acquiring an additional 1,640 shares during the period. Avanza Fonder AB acquired a new stake in shares of Verra Mobility during the fourth quarter valued at approximately $74,000. Aster Capital Management DIFC Ltd raised its holdings in shares of Verra Mobility by 585.1% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company's stock valued at $114,000 after acquiring an additional 4,031 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Verra Mobility during the fourth quarter valued at approximately $129,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Verra Mobility by 6.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company's stock valued at $154,000 after acquiring an additional 409 shares during the period.

Verra Mobility Stock Down 2.6%

VRRM traded down $0.64 on Wednesday, reaching $23.89. 904,710 shares of the company traded hands, compared to its average volume of 1,185,063. The stock's 50 day moving average price is $22.16 and its 200-day moving average price is $23.54. Verra Mobility Co. has a 52-week low of $19.51 and a 52-week high of $31.03. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 39.82, a PEG ratio of 2.18 and a beta of 0.80. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.61 and a quick ratio of 2.52.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.01. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The firm had revenue of $223.25 million for the quarter, compared to the consensus estimate of $216.94 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The firm's revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts expect that Verra Mobility Co. will post 1.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VRRM. Baird R W upgraded shares of Verra Mobility from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 22nd. Morgan Stanley cut their price target on shares of Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Robert W. Baird boosted their price target on shares of Verra Mobility from $27.00 to $28.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, UBS Group cut their price target on shares of Verra Mobility from $31.50 to $29.50 and set a "buy" rating on the stock in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Verra Mobility has an average rating of "Buy" and an average price target of $27.38.

Insider Activity at Verra Mobility

In other Verra Mobility news, insider Jonathan Keyser sold 18,719 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $24.28, for a total value of $454,497.32. Following the completion of the sale, the insider now directly owns 1,179 shares of the company's stock, valued at $28,626.12. The trade was a 94.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.05% of the stock is currently owned by insiders.

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.