Short Interest in Verra Mobility Co. (NASDAQ:VRRM) Declines By 22.7%

Verra Mobility Co. (NASDAQ:VRRM - Get Free Report) was the target of a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 2,310,000 shares, a decrease of 22.7% from the April 30th total of 2,990,000 shares. Based on an average trading volume of 1,370,000 shares, the days-to-cover ratio is currently 1.7 days. Approximately 1.5% of the company's stock are sold short.

Verra Mobility Stock Performance

Shares of VRRM traded up $0.49 during mid-day trading on Tuesday, reaching $24.12. 735,254 shares of the company's stock were exchanged, compared to its average volume of 1,177,227. The business's fifty day simple moving average is $22.61 and its 200-day simple moving average is $23.57. The stock has a market capitalization of $3.85 billion, a PE ratio of 40.20, a price-to-earnings-growth ratio of 2.18 and a beta of 0.80. Verra Mobility has a 52-week low of $19.51 and a 52-week high of $31.03. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.61 and a quick ratio of 2.52.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.01. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The firm had revenue of $223.25 million during the quarter, compared to analysts' expectations of $216.94 million. During the same quarter in the prior year, the business earned $0.27 EPS. Verra Mobility's quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that Verra Mobility will post 1.08 earnings per share for the current year.

Insider Activity

In related news, insider Jonathan Keyser sold 18,719 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $24.28, for a total transaction of $454,497.32. Following the completion of the sale, the insider now owns 1,179 shares in the company, valued at $28,626.12. The trade was a 94.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.05% of the company's stock.

Hedge Funds Weigh In On Verra Mobility

Several institutional investors have recently added to or reduced their stakes in VRRM. Caitong International Asset Management Co. Ltd lifted its position in Verra Mobility by 13,638.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,786 shares of the company's stock worth $40,000 after acquiring an additional 1,773 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Verra Mobility by 245.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company's stock worth $56,000 after purchasing an additional 1,640 shares during the last quarter. Quarry LP lifted its holdings in shares of Verra Mobility by 361.8% during the first quarter. Quarry LP now owns 4,055 shares of the company's stock worth $91,000 after purchasing an additional 3,177 shares during the period. Aster Capital Management DIFC Ltd grew its position in Verra Mobility by 585.1% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company's stock valued at $114,000 after buying an additional 4,031 shares during the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new position in Verra Mobility in the 4th quarter valued at $129,000.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. UBS Group reduced their price objective on shares of Verra Mobility from $31.50 to $29.50 and set a "buy" rating for the company in a research report on Thursday, May 8th. Morgan Stanley cut their price target 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 upped their price objective on shares of Verra Mobility from $27.00 to $28.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Baird R W raised Verra Mobility from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $27.38.

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.