Verra Mobility Corp (NASDAQ:VRRM) Short Interest Update

Key Points

• Verra Mobility Corp (NASDAQ:VRRM) saw a significant increase in short interest, rising by 25.4% to 2,810,000 shares as of August 31st.
• Institutional investments in Verra Mobility have surged, with some firms increasing their stakes by up to 13,638.5%.
• Despite a strong quarterly performance, with earnings per share of $0.34, analysts downgraded the stock from "strong-buy" to "buy," with a target price increase to $30.00.

Verra Mobility Corp (NASDAQ:VRRM - Get Free Report) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 2,810,000 shares, a growth of 25.4% from the August 15th total of 2,240,000 shares. Based on an average trading volume of 926,000 shares, the short-interest ratio is currently 3.0 days. Currently, 1.8% of the company's stock are sold short. Currently, 1.8% of the company's stock are sold short. Based on an average trading volume of 926,000 shares, the short-interest ratio is currently 3.0 days.

Institutional Investors Weigh In On Verra Mobility

A number of institutional investors and hedge funds have recently bought and sold shares of VRRM. Farther Finance Advisors LLC grew its position in shares of Verra Mobility by 46.6% during the second quarter. Farther Finance Advisors LLC now owns 1,447 shares of the company's stock valued at $37,000 after purchasing an additional 460 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Verra Mobility by 439.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the company's stock valued at $38,000 after purchasing an additional 1,217 shares in the last quarter. CWM LLC grew its position in shares of Verra Mobility by 112.2% during the second quarter. CWM LLC now owns 1,509 shares of the company's stock valued at $38,000 after purchasing an additional 798 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position 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 valued at $40,000 after purchasing an additional 1,773 shares in the last quarter. Finally, Osaic Holdings Inc. grew its position in shares of Verra Mobility by 285.8% during the second quarter. Osaic Holdings Inc. now owns 3,044 shares of the company's stock valued at $72,000 after purchasing an additional 2,255 shares in the last quarter.

Analysts Set New Price Targets

Several analysts recently weighed in on VRRM shares. Robert W. Baird upped their price target on Verra Mobility from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Wall Street Zen downgraded Verra Mobility from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Verra Mobility presently has a consensus rating of "Buy" and a consensus target price of $27.88.

Verra Mobility Stock Performance

Verra Mobility stock traded down $0.24 during trading on Friday, reaching $24.39. The company had a trading volume of 2,172,220 shares, compared to its average volume of 775,278. Verra Mobility has a 52 week low of $19.51 and a 52 week high of $28.25. The firm's 50-day simple moving average is $24.65 and its 200 day simple moving average is $23.54. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 101.63, a price-to-earnings-growth ratio of 2.88 and a beta of 0.80. The company has a current ratio of 2.28, a quick ratio of 2.21 and a debt-to-equity ratio of 2.93.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. Verra Mobility had a return on equity of 55.14% and a net margin of 4.30%.The company had revenue of $236.03 million for the quarter, compared to analysts' expectations of $232.78 million. During the same period last year, the firm earned $0.31 EPS. Verra Mobility's revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts forecast that Verra Mobility will post 1.08 earnings per share for the current fiscal year.

About Verra Mobility

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.