Verra Mobility Corp (NASDAQ:VRRM) Position Trimmed by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its stake in VERRA MOBILITY CORP by 1.5%, owning 5,004,356 shares valued at approximately $112.6 million after selling 74,888 shares in the first quarter.
• VERRA MOBILITY reported a revenue of $223.25 million for the last quarter, exceeding analyst estimates, with earnings per share (EPS) of $0.30, slightly beating the consensus of $0.29.
• Analysts have mixed ratings for VERRA MOBILITY, with price targets ranging from $27.00 to $31.50; currently, the stock has an average rating of "Buy" with a target of $27.38.

Mackenzie Financial Corp lessened its holdings in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,004,356 shares of the company's stock after selling 74,888 shares during the quarter. Mackenzie Financial Corp owned approximately 3.14% of Verra Mobility worth $112,648,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of VRRM. Vanguard Group Inc. boosted its holdings in shares of Verra Mobility by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 17,612,101 shares of the company's stock valued at $425,861,000 after acquiring an additional 159,348 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Verra Mobility by 10.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,111,775 shares of the company's stock valued at $220,323,000 after acquiring an additional 837,648 shares during the period. Westwood Holdings Group Inc. boosted its holdings in shares of Verra Mobility by 28.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 4,460,793 shares of the company's stock valued at $107,862,000 after acquiring an additional 994,775 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Verra Mobility by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,268,729 shares of the company's stock valued at $79,037,000 after acquiring an additional 71,031 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Verra Mobility by 1.7% during the fourth quarter. Northern Trust Corp now owns 2,343,138 shares of the company's stock valued at $56,657,000 after acquiring an additional 39,777 shares during the period.

Verra Mobility Stock Performance

Shares of NASDAQ VRRM traded down $0.57 during midday trading on Friday, reaching $24.69. 407,623 shares of the company traded hands, compared to its average volume of 1,122,948. Verra Mobility Corp has a 52 week low of $19.51 and a 52 week high of $29.97. The stock has a 50-day moving average price of $24.63 and a 200 day moving average price of $23.84. The company has a debt-to-equity ratio of 3.45, a current ratio of 2.19 and a quick ratio of 2.10. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 123.40, a PEG ratio of 2.43 and a beta of 0.77.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.29 by $0.01. Verra Mobility had a net margin of 3.88% and a return on equity of 51.05%. The firm had revenue of $223.25 million for the quarter, compared to analysts' expectations of $216.94 million. During the same period in the previous year, the business earned $0.27 earnings per share. Verra Mobility's revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Verra Mobility Corp will post 1.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on VRRM shares. Baird R W raised shares of Verra Mobility from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 22nd. UBS Group cut their price objective on shares of Verra Mobility from $31.50 to $29.50 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen cut shares of Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Robert W. Baird lifted their price objective on shares of Verra Mobility from $27.00 to $28.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $27.38.

Insider Buying and Selling

In other Verra Mobility news, insider Jonathan Keyser sold 18,719 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $24.28, for a total value of $454,497.32. Following the sale, the insider directly owned 1,179 shares in the company, valued at approximately $28,626.12. The trade was a 94.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.05% of the company's stock.

Verra Mobility 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.