Truvestments Capital LLC Decreases Stock Holdings in Verra Mobility Corp $VRRM

Key Points

• Truvestments Capital LLC significantly reduced its holdings in Verra Mobility Corp (VRRM) by 82.0%, now owning only 4,735 shares worth approximately $107,000 after selling 21,609 shares in the first quarter.
• While several firms decreased their positions, Caitong International Asset Management dramatically increased its stake in Verra Mobility by 13,638.5%, now holding 1,786 shares valued at $40,000.
• Verra Mobility recently reported an earnings per share of $0.34 for the last quarter, beating expectations and showing a 6.1% increase in revenue compared to the prior year.

Truvestments Capital LLC lowered its holdings in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 82.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,735 shares of the company's stock after selling 21,609 shares during the period. Truvestments Capital LLC's holdings in Verra Mobility were worth $107,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Verra Mobility by 12.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,265,348 shares of the company's stock worth $231,074,000 after buying an additional 1,153,573 shares in the last quarter. Wellington Management Group LLP grew its position in Verra Mobility by 5.1% during the first quarter. Wellington Management Group LLP now owns 7,922,473 shares of the company's stock valued at $178,335,000 after buying an additional 386,760 shares during the period. Westwood Holdings Group Inc. grew its position in Verra Mobility by 9.3% during the first quarter. Westwood Holdings Group Inc. now owns 4,873,442 shares of the company's stock valued at $109,701,000 after buying an additional 412,649 shares during the period. Northern Trust Corp raised its position in Verra Mobility by 3.5% in the first quarter. Northern Trust Corp now owns 2,426,306 shares of the company's stock worth $54,616,000 after acquiring an additional 83,168 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Verra Mobility by 10.8% during the 1st quarter. American Century Companies Inc. now owns 2,311,408 shares of the company's stock worth $52,030,000 after acquiring an additional 225,359 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wall Street Zen lowered Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Robert W. Baird raised their price objective on Verra Mobility from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Finally, UBS Group cut their price objective on Verra Mobility from $31.50 to $29.50 and set a "buy" rating for the company in a research note on Thursday, May 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $27.88.

Verra Mobility Price Performance

Shares of Verra Mobility stock traded down $0.15 on Tuesday, hitting $24.71. 271,599 shares of the company traded hands, compared to its average volume of 1,102,166. Verra Mobility Corp has a 52 week low of $19.51 and a 52 week high of $28.25. The business has a 50-day simple moving average of $24.87 and a 200 day simple moving average of $23.59. 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 has a market capitalization of $3.94 billion, a P/E ratio of 102.90, a price-to-earnings-growth ratio of 2.90 and a beta of 0.80.

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