Renaissance Technologies LLC Invests $1.44 Million in Verra Mobility Co. (NASDAQ:VRRM)

Renaissance Technologies LLC bought a new position in shares of Verra Mobility Co. (NASDAQ:VRRM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 59,400 shares of the company's stock, valued at approximately $1,436,000.

Several other institutional investors and hedge funds have also made changes to their positions in VRRM. PNC Financial Services Group Inc. boosted its stake in shares of Verra Mobility by 6.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company's stock worth $154,000 after buying an additional 409 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in Verra Mobility by 2.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 18,308 shares of the company's stock valued at $443,000 after purchasing an additional 448 shares in the last quarter. Tealwood Asset Management Inc. grew its holdings in Verra Mobility by 1.4% in the fourth quarter. Tealwood Asset Management Inc. now owns 44,230 shares of the company's stock valued at $1,069,000 after purchasing an additional 592 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of Verra Mobility by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 28,645 shares of the company's stock valued at $693,000 after buying an additional 725 shares in the last quarter. Finally, Xponance Inc. raised its stake in shares of Verra Mobility by 9.5% during the 4th quarter. Xponance Inc. now owns 11,865 shares of the company's stock worth $287,000 after buying an additional 1,025 shares during the last quarter.

Verra Mobility Trading Up 4.7 %

NASDAQ VRRM traded up $1.01 during trading hours on Friday, hitting $22.72. 1,067,554 shares of the company's stock were exchanged, compared to its average volume of 1,168,437. The company has a debt-to-equity ratio of 2.13, a quick ratio of 2.52 and a current ratio of 2.61. The firm has a market capitalization of $3.63 billion, a P/E ratio of 37.87, a price-to-earnings-growth ratio of 2.18 and a beta of 0.91. The business's 50 day moving average is $21.74 and its 200-day moving average is $23.77. Verra Mobility Co. has a 12-month low of $19.51 and a 12-month high of $31.03.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VRRM. Morgan Stanley lowered their price objective on shares of Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Robert W. Baird raised shares of Verra Mobility from a "neutral" rating to an "outperform" rating and set a $27.00 price objective for the company in a research note on Tuesday, April 22nd. Finally, Baird R W upgraded Verra Mobility from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd.

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.