Victory Capital Management Inc. Cuts Stock Holdings in Verra Mobility Corp (NASDAQ:VRRM)

Key Points

• Victory Capital Management Inc. has reduced its stake in VERRA MOBILITY CORP by 77.8%, now holding 53,185 shares worth approximately $1.2 million after selling 186,525 shares in the first quarter.
• VERRA MOBILITY reported a quarterly earnings per share (EPS) of $0.30, beating estimates, and its revenue grew by 6.5% year-over-year to $223.25 million.
• Analysts have mixed ratings on VERRA MOBILITY, with recent reports adjusting price targets and ratings; UBS lowered its target from $31.50 to $29.50 while Baird upgraded it from "hold" to "strong-buy."

Victory Capital Management Inc. lowered its position in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 77.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,185 shares of the company's stock after selling 186,525 shares during the period. Victory Capital Management Inc.'s holdings in Verra Mobility were worth $1,197,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of VRRM. Norges Bank acquired a new position in shares of Verra Mobility during the fourth quarter worth $46,156,000. Sunriver Management LLC acquired a new position in shares of Verra Mobility during the fourth quarter worth $33,503,000. Westwood Holdings Group Inc. grew its stake 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 worth $107,862,000 after purchasing an additional 994,775 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 worth $220,323,000 after purchasing an additional 837,648 shares in the last quarter. Finally, Sycale Advisors NY LLC acquired a new position in shares of Verra Mobility during the fourth quarter worth $12,654,000.

Insider Activity at Verra Mobility

In other news, insider Jonathan Keyser sold 18,719 shares of the company'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 completion of the sale, the insider directly owned 1,179 shares of the company's stock, valued at approximately $28,626.12. This represents a 94.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.05% of the company's stock.

Verra Mobility Stock Performance

VRRM traded down $0.62 on Friday, reaching $24.64. The company had a trading volume of 1,101,588 shares, compared to its average volume of 1,127,998. Verra Mobility Corp has a 1 year low of $19.51 and a 1 year high of $29.97. The stock has a market capitalization of $3.93 billion, a PE ratio of 123.20, a P/E/G ratio of 2.43 and a beta of 0.77. The company has a quick ratio of 2.10, a current ratio of 2.19 and a debt-to-equity ratio of 3.45. The stock has a 50-day moving average price of $24.63 and a 200-day moving average price of $23.84.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced 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 net margin of 3.88% and a return on equity of 51.05%. The business had revenue of $223.25 million during the quarter, compared to analysts' expectations of $216.94 million. During the same period in the prior year, the company earned $0.27 earnings per share. The business's revenue was up 6.5% compared to the same quarter last year. As a group, research analysts forecast that Verra Mobility Corp will post 1.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VRRM. Baird R W upgraded shares of Verra Mobility from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Robert W. Baird boosted their price target on shares of Verra Mobility from $27.00 to $28.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Wall Street Zen cut shares of Verra Mobility from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, UBS Group reduced their price target on shares of Verra Mobility from $31.50 to $29.50 and set a "buy" rating for the company in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Verra Mobility has a consensus rating of "Buy" and a consensus target price of $27.38.

Verra Mobility Company 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.