Westwood Holdings Group Inc. Has $109.70 Million Position in Verra Mobility Corp (NASDAQ:VRRM)

Key Points

• Westwood Holdings Group Inc. has increased its holdings in Verra Mobility Corp by 9.3% in the first quarter, now owning approximately 4.87 million shares worth about $109.7 million.
• Analysts from Robert W. Baird raised their price target for Verra Mobility from $27.00 to $28.00, indicating an "outperform" rating, while the consensus target price is set at $27.38.
• Verra Mobility reported quarterly earnings of $0.30 per share, exceeding estimates, with a revenue of $223.25 million, up 6.5% year-over-year.

Westwood Holdings Group Inc. increased its stake in shares of Verra Mobility Corp (NASDAQ:VRRM - Free Report) by 9.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,873,442 shares of the company's stock after buying an additional 412,649 shares during the quarter. Verra Mobility comprises approximately 0.8% of Westwood Holdings Group Inc.'s investment portfolio, making the stock its 23rd biggest position. Westwood Holdings Group Inc. owned about 3.05% of Verra Mobility worth $109,701,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its holdings in shares of Verra Mobility by 4.2% in the first quarter. Arizona State Retirement System now owns 47,252 shares of the company's stock worth $1,064,000 after acquiring an additional 1,891 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Verra Mobility by 8.4% in 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 lifted its holdings in shares of Verra Mobility by 2,258.8% in 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 bought a new position in shares of Verra Mobility in the first quarter worth about $816,000. Finally, Xponance Inc. lifted its holdings in shares of Verra Mobility by 4.9% in the first quarter. Xponance Inc. now owns 12,451 shares of the company's stock worth $280,000 after acquiring an additional 586 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on VRRM shares. Baird R W upgraded Verra Mobility from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Wall Street Zen cut Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. UBS Group dropped their price target 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. Finally, Robert W. Baird increased their price target on Verra Mobility from $27.00 to $28.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $27.38.

Verra Mobility Trading Down 2.4%

NASDAQ:VRRM traded down $0.58 during trading hours on Friday, hitting $23.49. 1,252,549 shares of the company were exchanged, compared to its average volume of 992,295. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 97.88, a price-to-earnings-growth ratio of 2.31 and a beta of 0.79. The company has a current ratio of 2.28, a quick ratio of 2.10 and a debt-to-equity ratio of 2.93. Verra Mobility Corp has a one year low of $19.51 and a one year high of $29.07. The company has a fifty day simple moving average of $24.73 and a 200 day simple moving average of $23.81.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Verra Mobility's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. Sell-side analysts expect 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.