Verra Mobility Corp (NASDAQ:VRRM) Shares Sold by Phocas Financial Corp.

Key Points

• Phocas Financial Corp reduced its stake in Verra Mobility by 5.5% in Q1, owning 235,410 shares worth $5.3 million after selling 13,596 shares.
• Analysts have mixed views on Verra Mobility, with Robert W. Baird raising its price target to $28 and UBS Group lowering it to $29.50, while the stock maintains an average rating of "Buy" with a target of $27.38.
• Verra Mobility reported $0.30 EPS for the most recent quarter, exceeding expectations, with revenue increasing by 6.5% year-over-year, amounting to $223.25 million.

Phocas Financial Corp. lessened its stake in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 5.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 235,410 shares of the company's stock after selling 13,596 shares during the period. Phocas Financial Corp. owned 0.15% of Verra Mobility worth $5,299,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd raised its position in Verra Mobility by 585.1% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company's stock worth $114,000 after acquiring an additional 4,031 shares during the period. PNC Financial Services Group Inc. boosted its stake in Verra Mobility by 18.2% in the first quarter. PNC Financial Services Group Inc. now owns 7,542 shares of the company's stock worth $170,000 after buying an additional 1,161 shares in the last quarter. US Bancorp DE boosted its position in Verra Mobility by 76.6% during the first quarter. US Bancorp DE now owns 7,782 shares of the company's stock valued at $175,000 after buying an additional 3,376 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of Verra Mobility in the first quarter worth approximately $224,000. Finally, Headlands Technologies LLC purchased a new position in Verra Mobility during the 4th quarter valued at about $228,000.

Insider Activity

In other 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 transaction, the insider owned 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 filing with the SEC, which is available at the SEC website. 1.05% of the stock is owned by corporate insiders.

Verra Mobility Trading Down 4.0%

NASDAQ VRRM traded down $1.01 during trading hours on Thursday, reaching $23.95. The company had a trading volume of 1,147,734 shares, compared to its average volume of 1,126,586. The company has a current ratio of 2.19, a quick ratio of 2.10 and a debt-to-equity ratio of 3.45. The stock has a market capitalization of $3.82 billion, a P/E ratio of 119.76, a price-to-earnings-growth ratio of 2.41 and a beta of 0.79. Verra Mobility Corp has a 1-year low of $19.51 and a 1-year high of $29.07. The stock has a 50-day moving average of $24.73 and a 200 day moving average of $23.84.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. The firm had revenue of $236.03 million for the quarter, compared to the consensus estimate of $232.78 million. Verra Mobility had a net margin of 3.88% and a return on equity of 51.05%. The company's revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $0.31 EPS. As a group, research analysts anticipate that Verra Mobility Corp will post 1.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VRRM. UBS Group dropped their price target on Verra Mobility from $31.50 to $29.50 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Baird R W upgraded shares of Verra Mobility from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd. 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 boosted their price objective on Verra Mobility from $27.00 to $28.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. One 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 company. Based on data from MarketBeat, Verra Mobility currently has an average rating of "Buy" and an average target price of $27.38.

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.