Wellington Management Group LLP Increases Stock Position in Verra Mobility Corp $VRRM

Key Points

• Wellington Management Group LLP increased its stake in Verra Mobility Corp by 5.1%, now owning approximately 7.92 million shares valued at $178 million.
• Several hedge funds have also raised their holdings, including Northern Trust Corp, which increased its position by 3.5%, and Caitong International Asset Management, which boosted its stake by an impressive 13,638.5%.
• Analysts have mixed views on Verra Mobility, with UBS lowering its price target from $31.50 to $29.50, though the consensus rating remains a strong "Buy".

Wellington Management Group LLP lifted its holdings in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 5.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 7,922,473 shares of the company's stock after acquiring an additional 386,760 shares during the period. Wellington Management Group LLP owned approximately 4.96% of Verra Mobility worth $178,335,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northern Trust Corp boosted 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 worth $54,616,000 after purchasing an additional 83,168 shares in the last quarter. Algert Global LLC raised its holdings in shares of Verra Mobility by 1,046.0% in the first quarter. Algert Global LLC now owns 230,880 shares of the company's stock worth $5,197,000 after buying an additional 210,734 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Verra Mobility by 10.8% in the first quarter. American Century Companies Inc. now owns 2,311,408 shares of the company's stock worth $52,030,000 after buying an additional 225,359 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Verra Mobility by 13,638.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,786 shares of the company's stock worth $40,000 after buying an additional 1,773 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of Verra Mobility by 115.9% during the first quarter. Russell Investments Group Ltd. now owns 138,818 shares of the company's stock valued at $3,125,000 after buying an additional 74,513 shares during the last quarter.

Verra Mobility Stock Performance

NASDAQ VRRM traded up $0.94 on Friday, reaching $25.54. 854,032 shares of the company's stock traded hands, compared to its average volume of 1,038,783. Verra Mobility Corp has a fifty-two week low of $19.51 and a fifty-two week high of $28.25. 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 firm has a market cap of $4.07 billion, a price-to-earnings ratio of 106.42, a P/E/G ratio of 2.99 and a beta of 0.79. The stock has a 50 day moving average price of $24.77 and a 200-day moving average price of $23.65.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on VRRM. Robert W. Baird raised their target price on Verra Mobility from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday. Wall Street Zen lowered Verra Mobility from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Finally, UBS Group reduced 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's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $27.88.

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.