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) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 2,810,000 shares, an increase of 25.4% from the August 15th total of 2,240,000 shares. Currently, 1.8% of the shares of the company are short sold. Based on an average daily volume of 926,000 shares, the short-interest ratio is presently 3.0 days. Based on an average daily volume of 926,000 shares, the short-interest ratio is presently 3.0 days. Currently, 1.8% of the shares of the company are short sold.

Verra Mobility Stock Down 1.0%

VRRM stock traded down $0.24 during trading on Friday, reaching $24.39. 2,172,220 shares of the company traded hands, compared to its average volume of 841,188. Verra Mobility has a 12 month low of $19.51 and a 12 month high of $28.25. The business has a 50 day simple moving average of $24.65 and a 200 day simple moving average of $23.57. 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 company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 101.63, a price-to-earnings-growth ratio of 2.85 and a beta of 0.80.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. Verra Mobility had a net margin of 4.30% and a return on equity of 55.14%. The business had revenue of $236.03 million during the quarter, compared to the consensus estimate of $232.78 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The company's revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that Verra Mobility will post 1.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. boosted its position in shares of Verra Mobility by 285.8% in the second quarter. Osaic Holdings Inc. now owns 3,044 shares of the company's stock worth $72,000 after buying an additional 2,255 shares during the period. State of Wyoming grew its position in Verra Mobility by 218.6% in the second quarter. State of Wyoming now owns 31,029 shares of the company's stock valued at $788,000 after acquiring an additional 21,291 shares during the period. Public Sector Pension Investment Board boosted its position in Verra Mobility by 4.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 543,510 shares of the company's stock valued at $13,800,000 after buying an additional 20,875 shares during the last quarter. Winslow Asset Management Inc. lifted its holdings in shares of Verra Mobility by 1.3% during the 2nd quarter. Winslow Asset Management Inc. now owns 370,522 shares of the company's stock valued at $9,408,000 after purchasing an additional 4,785 shares in the last quarter. Finally, Headlands Technologies LLC raised its stake in shares of Verra Mobility by 20.1% during the 2nd quarter. Headlands Technologies LLC now owns 15,936 shares of the company's stock worth $405,000 after purchasing an additional 2,672 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Verra Mobility from $28.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Wall Street Zen cut shares of Verra Mobility from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Verra Mobility currently has an average rating of "Buy" and a consensus price target of $27.88.

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.