Verra Mobility Corp (NASDAQ:VRRM) saw a significant growth in short interest in June. As of June 30th, there was short interest totalling 11,024,500 shares, a growth of 62.9% from the May 30th total of 6,768,800 shares. Currently, 12.0% of the company’s stock are sold short. Based on an average trading volume of 1,300,000 shares, the short-interest ratio is presently 8.5 days.
In related news, Director Platinum Equity Llc sold 2,250,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.13, for a total transaction of $27,292,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. FMR LLC boosted its holdings in Verra Mobility by 15.9% in the first quarter. FMR LLC now owns 8,587,585 shares of the company’s stock worth $102,192,000 after purchasing an additional 1,176,434 shares during the last quarter. Fairview Capital Investment Management LLC boosted its stake in shares of Verra Mobility by 1.2% during the 1st quarter. Fairview Capital Investment Management LLC now owns 6,247,064 shares of the company’s stock worth $74,340,000 after acquiring an additional 77,000 shares during the last quarter. Arrowgrass Capital Partners US LP purchased a new position in shares of Verra Mobility during the 4th quarter worth $15,787,000. Marshall Wace LLP boosted its stake in shares of Verra Mobility by 2.3% during the 1st quarter. Marshall Wace LLP now owns 1,299,494 shares of the company’s stock worth $15,464,000 after acquiring an additional 29,169 shares during the last quarter. Finally, Geode Capital Management LLC purchased a new position in shares of Verra Mobility during the 4th quarter worth $7,497,000. Institutional investors own 42.01% of the company’s stock.
Several equities research analysts recently issued reports on VRRM shares. Robert W. Baird set a $25.00 target price on shares of Actuant and gave the stock a “buy” rating in a report on Thursday, June 27th. William Blair started coverage on shares of Verra Mobility in a report on Wednesday, April 24th. They issued an “outperform” rating and a $13.08 target price on the stock. Zacks Investment Research cut shares of Yatra Online from a “hold” rating to a “sell” rating in a report on Saturday, July 6th. BTIG Research started coverage on shares of Verra Mobility in a report on Wednesday, March 27th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, ValuEngine cut shares of Zogenix from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $15.03.
Shares of VRRM stock opened at $13.67 on Friday. Verra Mobility has a 12-month low of $9.00 and a 12-month high of $15.07. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 2.82. The stock has a 50 day moving average of $13.16. The stock has a market capitalization of $2.17 billion, a PE ratio of -20.40 and a beta of 0.40.
Verra Mobility (NASDAQ:VRRM) last issued its earnings results on Monday, May 6th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.07. The company had revenue of $98.46 million during the quarter, compared to analysts’ expectations of $91.60 million. On average, analysts predict that Verra Mobility will post 0.8 EPS for the current year.
Verra Mobility Company Profile
Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Canada, and Europe. It operates through two segments, Government Solutions and Commercial Services. The Government Solutions segment offers automated safety solutions, including services and technologies that enable photo enforcement through road safety camera programs related to red light, speed, school bus, and city bus lanes.
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