Via Transportation (NYSE:VIA) Trading Up 8.9% - Time to Buy?

Key Points

• Via Transportation shares jumped 8.9% to approximately $19.27, despite trading volume being 89% below the average session level. The company has a $1.60 billion market capitalization and trades below its 200-day moving average.
• Analysts maintain a broadly positive outlook, with 12 Buy ratings, one Hold, and one Sell. The consensus rating is “Moderate Buy,” with a $37.10 price target compared with the recent share price.
• Insiders and institutional investors have been accumulating shares: insiders purchased 31,904 shares over the past 90 days, while institutional investors own 74.4% of the stock. A director and the CEO were among the recent insider buyers.

Via Transportation Inc. (NYSE:VIA - Get Free Report)'s share price was up 8.9% during trading on Monday . The stock traded as high as $19.22 and last traded at $19.27. Approximately 87,659 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 805,406 shares. The stock had previously closed at $17.69.

Analysts Set New Price Targets

VIA has been the subject of several recent research reports. Oppenheimer reaffirmed an "outperform" rating and set a $25.00 target price on shares of Via Transportation in a report on Monday, June 1st. Wells Fargo & Company lowered their price target on shares of Via Transportation from $36.00 to $30.00 and set an "overweight" rating on the stock in a report on Wednesday, May 13th. The Goldman Sachs Group restated a "buy" rating and set a $24.00 price target on shares of Via Transportation in a research report on Wednesday, May 13th. Morgan Stanley reiterated an "overweight" rating and issued a $24.00 price objective on shares of Via Transportation in a research report on Tuesday, May 12th. Finally, Guggenheim restated a "buy" rating and issued a $50.00 price target on shares of Via Transportation in a research note on Wednesday, June 17th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.10.

Via Transportation Trading Up 10.9%

The business has a 50-day moving average price of $16.36 and a 200-day moving average price of $17.73. The stock has a market cap of $1.60 billion and a PE ratio of -21.06.

Insiders Place Their Bets

In related news, Director Nechemia Jacob Peres bought 25,000 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average price of $14.70 per share, with a total value of $367,500.00. Following the completion of the purchase, the director directly owned 30,434 shares of the company's stock, valued at approximately $447,379.80. This trade represents a 460.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Daniel Ramot purchased 3,571 shares of Via Transportation stock in a transaction that occurred on Tuesday, June 16th. The shares were bought at an average price of $14.00 per share, with a total value of $49,994.00. Following the transaction, the chief executive officer owned 2,420,957 shares in the company, valued at approximately $33,893,398. The trade was a 0.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have acquired 31,904 shares of company stock valued at $467,289 over the last 90 days. 39.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Via Transportation

Several large investors have recently bought and sold shares of VIA. Essential Partners LLC acquired a new position in shares of Via Transportation during the first quarter valued at approximately $40,000. Bank of America Corp DE boosted its stake in shares of Via Transportation by 489.2% in the first quarter. Bank of America Corp DE now owns 39,981 shares of the company's stock worth $600,000 after acquiring an additional 33,195 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Via Transportation by 41.9% during the first quarter. Janus Henderson Group PLC now owns 854,589 shares of the company's stock worth $12,819,000 after purchasing an additional 252,381 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Via Transportation during the first quarter worth approximately $214,000. Finally, Weiss Asset Management LP acquired a new position in Via Transportation in the 1st quarter valued at $2,433,000. 74.40% of the stock is currently owned by hedge funds and other institutional investors.

Via Transportation Company Profile

Via transforms antiquated and siloed public transportation systems into smart, data-driven, and efficient digital networks. We are addressing a striking gap in the $545 billion global public transportation market. While billions of people across the globe rely on public transportation, this critical form of mobility has yet to meaningfully benefit from recent advances in technology. Buses still follow fixed routes and schedules planned years, if not decades ago, regardless of actual demand for their service.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.