Short Interest in Verra Mobility Corp (NASDAQ:VRRM) Rises By 768.3%

Key Points

• Verra Mobility Corp experienced a dramatic increase in short interest of 768.3% in July, with total short interest reaching 1,860,000 shares as of July 15th.
• Insider Jonathan Keyser sold 18,719 shares at an average price of $24.28, significantly decreasing his ownership by 94.07%.
• Analysts have mixed views on the stock, with ratings varying from "hold" to "strong-buy," leading to a consensus target price of $27.38.

Verra Mobility Corp (NASDAQ:VRRM - Get Free Report) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 1,860,000 shares, anincreaseof768.3% from the June 30th total of 214,200 shares. Based on an average daily trading volume, of 1,000,000 shares, the days-to-cover ratio is currently 1.9 days. Currently,1.2% of the company's shares are sold short. Currently,1.2% of the company's shares are sold short. Based on an average daily trading volume, of 1,000,000 shares, the days-to-cover ratio is currently 1.9 days.

Wall Street Analyst Weigh In

VRRM has been the topic of several recent research reports. Baird R W raised Verra Mobility from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd. Wall Street Zen cut Verra Mobility from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. UBS Group dropped their target price on Verra Mobility from $31.50 to $29.50 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Robert W. Baird increased their target price on Verra Mobility from $27.00 to $28.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $27.38.

Verra Mobility Stock Performance

VRRM stock traded up $0.07 during midday trading on Tuesday, reaching $25.34. The stock had a trading volume of 322,717 shares, compared to its average volume of 1,119,507. The stock has a market cap of $4.04 billion, a PE ratio of 126.65, a P/E/G ratio of 2.37 and a beta of 0.79. The company has a debt-to-equity ratio of 3.45, a quick ratio of 2.10 and a current ratio of 2.19. The firm has a fifty day simple moving average of $24.69 and a two-hundred day simple moving average of $23.82. Verra Mobility has a 52-week low of $19.51 and a 52-week high of $29.07.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.01. Verra Mobility had a return on equity of 51.05% and a net margin of 3.88%. The business had revenue of $223.25 million during the quarter, compared to analyst estimates of $216.94 million. During the same quarter last year, the business posted $0.27 EPS. The company's revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that Verra Mobility will post 1.08 EPS for the current year.

Insider Buying and Selling at Verra Mobility

In other news, insider Jonathan Keyser sold 18,719 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $24.28, for a total value of $454,497.32. Following the sale, the insider directly owned 1,179 shares in the company, valued at approximately $28,626.12. This represents a 94.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.05% of the company's stock.

Institutional Investors Weigh In On Verra Mobility

Large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in Verra Mobility by 46.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,447 shares of the company's stock worth $37,000 after buying an additional 460 shares in the last quarter. CWM LLC lifted its holdings in Verra Mobility by 112.2% in the second quarter. CWM LLC now owns 1,509 shares of the company's stock valued at $38,000 after acquiring an additional 798 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Verra Mobility by 13,638.5% in 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 during the period. Quarry LP raised its position in Verra Mobility by 361.8% in the first quarter. Quarry LP now owns 4,055 shares of the company's stock valued at $91,000 after purchasing an additional 3,177 shares during the period. Finally, GAMMA Investing LLC boosted its position in Verra Mobility by 11.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,128 shares of the company's stock valued at $105,000 after buying an additional 430 shares during the period.

Verra Mobility Company 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.