M&T Bank Corp Lowers Holdings in Verra Mobility Corp (NASDAQ:VRRM)

M&T Bank Corp cut its holdings in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 60.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,013 shares of the company's stock after selling 61,845 shares during the period. M&T Bank Corp's holdings in Verra Mobility were worth $901,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. LPL Financial LLC grew its position in shares of Verra Mobility by 8.4% during the fourth quarter. LPL Financial LLC now owns 151,920 shares of the company's stock worth $3,673,000 after acquiring an additional 11,772 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Verra Mobility by 2,258.8% during the first quarter. GAMMA Investing LLC now owns 83,242 shares of the company's stock worth $1,874,000 after acquiring an additional 79,713 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Verra Mobility during the first quarter worth approximately $816,000. Fox Run Management L.L.C. purchased a new position in shares of Verra Mobility during the fourth quarter worth approximately $297,000. Finally, Bank of Montreal Can grew its position in shares of Verra Mobility by 10.1% during the fourth quarter. Bank of Montreal Can now owns 20,938 shares of the company's stock worth $506,000 after acquiring an additional 1,915 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VRRM. Morgan Stanley lowered their target price on shares of Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. Baird R W raised Verra Mobility from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 22nd. UBS Group decreased their price target on Verra Mobility from $31.50 to $29.50 and set a "buy" rating for the company in a report on Thursday, May 8th. Robert W. Baird increased their price target on Verra Mobility from $27.00 to $28.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Wall Street Zen raised Verra Mobility from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 12th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Verra Mobility presently has a consensus rating of "Buy" and an average price target of $27.38.

Verra Mobility Price Performance

Verra Mobility stock traded down $0.09 during midday trading on Thursday, reaching $24.87. The company's stock had a trading volume of 1,109,123 shares, compared to its average volume of 1,143,591. Verra Mobility Corp has a fifty-two week low of $19.51 and a fifty-two week high of $31.03. The company has a debt-to-equity ratio of 3.45, a quick ratio of 2.10 and a current ratio of 2.19. The stock's 50 day simple moving average is $24.43 and its 200 day simple moving average is $23.81. The firm has a market capitalization of $3.97 billion, a PE ratio of 124.35, a P/E/G ratio of 2.35 and a beta of 0.77.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last released its earnings results 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 return on equity of 51.05% and a net margin of 3.88%. The company had revenue of $223.25 million during the quarter, compared to the consensus estimate of $216.94 million. During the same quarter last year, the company earned $0.27 earnings per share. Verra Mobility's quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Verra Mobility Corp will post 1.08 earnings per share for the current year.

Insider Activity

In other news, insider Jonathan Keyser sold 18,719 shares of Verra Mobility stock in a transaction on Friday, May 9th. The stock was sold at an average price of $24.28, for a total transaction 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 position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.05% of the stock is owned by company insiders.

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.