Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Verra Mobility Corp (NASDAQ:VRRM) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 4,601 shares of the company’s stock, valued at approximately $60,000.
A number of other hedge funds have also bought and sold shares of VRRM. Manning & Napier Group LLC lifted its holdings in Verra Mobility by 583.1% during the second quarter. Manning & Napier Group LLC now owns 2,910,170 shares of the company’s stock worth $38,092,000 after acquiring an additional 2,484,155 shares in the last quarter. FMR LLC lifted its holdings in shares of Verra Mobility by 15.9% in the first quarter. FMR LLC now owns 8,587,585 shares of the company’s stock valued at $102,192,000 after purchasing an additional 1,176,434 shares in the last quarter. River Road Asset Management LLC bought a new stake in shares of Verra Mobility in the first quarter valued at about $8,271,000. Cortina Asset Management LLC bought a new stake in shares of Verra Mobility in the second quarter valued at about $8,142,000. Finally, William Blair Investment Management LLC bought a new stake in shares of Verra Mobility in the first quarter valued at about $5,910,000. Hedge funds and other institutional investors own 54.41% of the company’s stock.
VRRM has been the topic of a number of research reports. Bank of America initiated coverage on Verra Mobility in a report on Monday, July 22nd. They issued a “neutral” rating and a $14.50 price target on the stock. Zacks Investment Research upgraded Verra Mobility from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Robert W. Baird initiated coverage on Verra Mobility in a report on Thursday, June 27th. They issued an “outperform” rating and a $17.00 price target on the stock. Goldman Sachs Group initiated coverage on Verra Mobility in a report on Tuesday, July 30th. They issued a “neutral” rating and a $15.00 price target on the stock. Finally, ValuEngine lowered Verra Mobility from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $14.92.
Shares of NASDAQ:VRRM traded down $0.19 during midday trading on Friday, reaching $13.80. The company had a trading volume of 28,334 shares, compared to its average volume of 883,599. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 2.77. The business’s 50 day moving average price is $13.72 and its 200 day moving average price is $12.69. The stock has a market cap of $2.21 billion, a PE ratio of -20.57 and a beta of 0.40. Verra Mobility Corp has a 1-year low of $9.00 and a 1-year high of $15.07.
Verra Mobility (NASDAQ:VRRM) last released its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The company had revenue of $109.58 million during the quarter, compared to analyst estimates of $103.25 million. On average, research analysts expect that Verra Mobility Corp will post 0.8 earnings per share for the current fiscal year.
In related news, Director Platinum Equity Llc sold 2,250,000 shares of Verra Mobility stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $12.13, for a total value of $27,292,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.72% of the stock is currently owned by insiders.
Verra Mobility 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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