Wellington Management Group LLP Decreases Stock Holdings in Verra Mobility Corp $VRRM

Wellington Management Group LLP decreased its stake in shares of Verra Mobility Corp (NASDAQ:VRRM) by 65.8% during the second quarter, Holdings Channel reports. The firm owned 1,870,489 shares of the company’s stock after selling 3,599,426 shares during the quarter. Wellington Management Group LLP’s holdings in Verra Mobility were worth $7,950,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Morgan Stanley raised its stake in Verra Mobility by 44.8% during the 4th quarter. Morgan Stanley now owns 4,194,005 shares of the company’s stock valued at $93,988,000 after buying an additional 1,296,602 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Verra Mobility by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,316,850 shares of the company’s stock worth $74,333,000 after buying an additional 24,682 shares during the last quarter. Norges Bank bought a new stake in shares of Verra Mobility in the fourth quarter worth $68,608,000. River Road Asset Management LLC grew its holdings in shares of Verra Mobility by 441.6% in the fourth quarter. River Road Asset Management LLC now owns 2,984,760 shares of the company’s stock worth $66,888,000 after acquiring an additional 2,433,610 shares during the period. Finally, Sunriver Management LLC increased its position in Verra Mobility by 29.4% during the fourth quarter. Sunriver Management LLC now owns 2,956,976 shares of the company’s stock valued at $66,266,000 after acquiring an additional 672,202 shares during the last quarter.

Verra Mobility Stock Performance

Shares of VRRM opened at $3.91 on Wednesday. The business has a 50-day simple moving average of $4.48 and a two-hundred day simple moving average of $9.44. The company has a quick ratio of 1.96, a current ratio of 2.06 and a debt-to-equity ratio of 4.58. Verra Mobility Corp has a 52 week low of $3.40 and a 52 week high of $25.45. The stock has a market cap of $594.24 million, a price-to-earnings ratio of 15.04 and a beta of 0.38.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. Verra Mobility had a return on equity of 64.39% and a net margin of 4.40%.The company had revenue of $263.59 million during the quarter, compared to the consensus estimate of $254.81 million. During the same period in the previous year, the company posted $0.34 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. On average, analysts expect that Verra Mobility Corp will post 1.11 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Northcoast Research reissued a “neutral” rating on shares of Verra Mobility in a research report on Wednesday, May 27th. UBS Group increased their price objective on shares of Verra Mobility from $4.00 to $6.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Zacks Research raised shares of Verra Mobility from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $9.00 target price (down from $22.00) on shares of Verra Mobility in a research report on Wednesday, May 27th. Finally, CJS Securities cut shares of Verra Mobility from a “market outperform” rating to a “market perform” rating and set a $10.00 target price for the company. in a report on Wednesday, May 27th. Nine research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $7.00.

About Verra Mobility

Verra Mobility, traded on the Nasdaq under the ticker VRRM, is a leading provider of smart mobility solutions designed to improve safety, efficiency and compliance for transportation authorities and commercial fleets. The company develops and operates automated traffic enforcement systems, toll and violation management platforms, and connected-vehicle services. Through its technology offerings, Verra Mobility helps public agencies enhance road safety, reduce congestion and streamline revenue collection for tolling and parking.

Verra Mobility’s core products include red-light and speed-camera enforcement programs, license plate recognition systems, and cloud-based violation processing software.