Via Transportation (NYSE:VIA) Shares Gap Down - Here's What Happened

Key Points

• Via Transportation shares opened sharply lower, at $35 versus the prior close of $37.72, but later traded at $38.395, up 8.8% from the open.
• The company reported a quarterly loss of $0.19 per share, beating analysts’ estimate of a $0.23 loss, and posted revenue of $143.53 million. It still had a negative net margin of 20.04%.
• Analyst sentiment was broadly positive: nine analysts rated the stock Buy and one rated it Sell, for a consensus “Moderate Buy” and average price target of $34.75.

Via Transportation Inc. (NYSE:VIA - Get Free Report)'s stock price gapped down before the market opened on Monday. The stock had previously closed at $37.72, but opened at $35.00. Via Transportation shares last traded at $38.3950, with a volume of 122,273 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on VIA shares. Wells Fargo & Company increased their price objective on shares of Via Transportation from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Morgan Stanley raised their price objective on shares of Via Transportation from $24.00 to $33.00 and gave the company an "overweight" rating in a research report on Monday, September 21st. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $35.00 target price on shares of Via Transportation in a research note on Wednesday, October 7th. Citigroup reaffirmed a "market outperform" rating on shares of Via Transportation in a report on Monday, September 14th. Finally, Weiss Ratings lowered Via Transportation from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, October 13th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $34.75.

Via Transportation Trading Up 8.8%

The firm has a market capitalization of $3.35 billion, a P/E ratio of -36.00 and a beta of 0.90. The company has a 50 day simple moving average of $31.16 and a two-hundred day simple moving average of $21.45.

Via Transportation (NYSE:VIA - Get Free Report) last announced its quarterly earnings data on Monday, November 9th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.23) by $0.04. The business had revenue of $143.53 million during the quarter. Via Transportation had a negative net margin of 20.04% and a negative return on equity of 12.33%. On average, sell-side analysts expect that Via Transportation Inc. will post -0.81 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Nechemia Peres bought 10,080 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was bought at an average cost of $24.74 per share, with a total value of $249,379.20. Following the completion of the purchase, the director owned 40,514 shares of the company's stock, valued at approximately $1,002,316.36. The trade was a 33.12% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 39.28% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of Via Transportation by 0.3% during the 2nd quarter. Wellington Management Group LLP now owns 2,486,601 shares of the company's stock valued at $45,107,000 after acquiring an additional 6,395 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Via Transportation by 39.6% in the first quarter. Principal Financial Group Inc. now owns 1,086,438 shares of the company's stock valued at $16,297,000 after purchasing an additional 308,283 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Via Transportation by 41.9% in the first quarter. Janus Henderson Group PLC now owns 854,589 shares of the company's stock valued at $12,819,000 after purchasing an additional 252,381 shares in the last quarter. Robeco Schweiz AG purchased a new position in shares of Via Transportation in the third quarter valued at $7,674,000. Finally, Penn Capital Management Company LLC bought a new stake in Via Transportation in the third quarter worth $6,246,000. Institutional investors own 74.40% of the company's stock.

About Via Transportation

Via Transportation provides technology that helps public agencies, schools and other organizations plan and operate transportation services. Its platform supports tasks such as trip booking, route planning, vehicle dispatch, rider communications and service analysis.

The company's software is used for a range of services, including on-demand public transit, paratransit, school transportation and employee shuttles. Via also works with transportation providers to coordinate vehicles and connect riders with available services.

Founded in 2012 by Daniel Ramot and Oren Shoval, Via is headquartered in New York City.

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