Sunriver Management LLC Buys 534,810 Shares of Verra Mobility Corp $VRRM

Key Points

• Sunriver Management LLC increased its stake in Verra Mobility Corp by 38.6%, making it the firm's 9th largest position with 1,920,395 shares valued at approximately $43.2 million.
• Verra Mobility's stock price rose 3.8%, with a current market cap of $4.07 billion, and a notable 52-week high of $28.25.
• The company reported better-than-expected earnings, with an EPS of $0.34 for the last quarter, surpassing estimates and showing a year-over-year revenue growth of 6.1%.

Sunriver Management LLC raised its position in Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 38.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,920,395 shares of the company's stock after acquiring an additional 534,810 shares during the period. Verra Mobility comprises 5.3% of Sunriver Management LLC's portfolio, making the stock its 9th biggest position. Sunriver Management LLC owned about 1.20% of Verra Mobility worth $43,228,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Verra Mobility by 12.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,265,348 shares of the company's stock worth $231,074,000 after purchasing an additional 1,153,573 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Verra Mobility by 5.1% during the 1st quarter. Wellington Management Group LLP now owns 7,922,473 shares of the company's stock worth $178,335,000 after purchasing an additional 386,760 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in Verra Mobility by 9.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 4,873,442 shares of the company's stock valued at $109,701,000 after acquiring an additional 412,649 shares during the period. Dimensional Fund Advisors LP raised its stake in Verra Mobility by 2.2% in the 4th 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 raised its stake in Verra Mobility by 3.5% in the 1st quarter. Northern Trust Corp now owns 2,426,306 shares of the company's stock valued at $54,616,000 after acquiring an additional 83,168 shares during the period.

Analyst Ratings Changes

A number of research firms recently weighed in on VRRM. Robert W. Baird increased their price target on Verra Mobility from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Wall Street Zen cut Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, 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 note on Thursday, May 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $27.88.

Verra Mobility Price Performance

NASDAQ VRRM remained flat at $24.96 on Tuesday. The company's stock had a trading volume of 888,560 shares, compared to its average volume of 1,005,362. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.21 and a current ratio of 2.28. The stock's fifty day moving average is $24.80 and its two-hundred day moving average is $23.64. Verra Mobility Corp has a 52-week low of $19.51 and a 52-week high of $28.25. The stock has a market capitalization of $3.98 billion, a P/E ratio of 104.00, a P/E/G ratio of 2.92 and a beta of 0.79.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. Verra Mobility had a return on equity of 55.14% and a net margin of 4.30%.The firm had revenue of $236.03 million for the quarter, compared to analyst estimates of $232.78 million. During the same period in the prior year, the firm posted $0.31 EPS. The company's revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts predict that Verra Mobility Corp will post 1.08 EPS for the current fiscal year.

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.