Verition Fund Management LLC Trims Stock Holdings in Verra Mobility Co. (NASDAQ:VRRM)

Verition Fund Management LLC trimmed its position in Verra Mobility Co. (NASDAQ:VRRM – Get Rating) by 32.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,005 shares of the company’s stock after selling 10,051 shares during the period. Verition Fund Management LLC’s holdings in Verra Mobility were worth $323,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VRRM. Blue Grotto Capital LLC purchased a new stake in Verra Mobility in the first quarter worth $20,964,000. Federated Hermes Inc. bought a new stake in Verra Mobility in the first quarter worth $13,975,000. Darlington Partners Capital Management LP boosted its holdings in Verra Mobility by 7.6% in the second quarter. Darlington Partners Capital Management LP now owns 11,791,189 shares of the company’s stock worth $185,240,000 after acquiring an additional 837,274 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Verra Mobility by 161.3% in the first quarter. Goldman Sachs Group Inc. now owns 880,420 shares of the company’s stock worth $14,333,000 after acquiring an additional 543,444 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Verra Mobility by 3,597.1% in the first quarter. Prudential Financial Inc. now owns 415,741 shares of the company’s stock worth $6,769,000 after acquiring an additional 404,496 shares in the last quarter.

Analyst Upgrades and Downgrades

VRRM has been the topic of a number of research analyst reports. Credit Suisse Group upped their price target on Verra Mobility from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, March 3rd. Deutsche Bank Aktiengesellschaft increased their target price on Verra Mobility from $19.00 to $21.00 in a report on Thursday, March 2nd. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.50.

Verra Mobility Stock Performance

NASDAQ VRRM opened at $17.54 on Thursday. The stock has a market capitalization of $2.63 billion, a PE ratio of 35.80 and a beta of 1.19. Verra Mobility Co. has a 1-year low of $12.70 and a 1-year high of $17.87. The business has a 50 day simple moving average of $15.49 and a two-hundred day simple moving average of $15.50. The company has a debt-to-equity ratio of 5.15, a current ratio of 1.94 and a quick ratio of 1.84.

Verra Mobility (NASDAQ:VRRM – Get Rating) last issued its quarterly earnings results on Wednesday, March 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $186.07 million during the quarter, compared to analyst estimates of $184.79 million. Verra Mobility had a return on equity of 62.78% and a net margin of 12.47%. Verra Mobility’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $0.23 EPS. On average, research analysts predict that Verra Mobility Co. will post 0.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO David Martin Roberts sold 25,000 shares of Verra Mobility stock in a transaction on Monday, February 27th. The stock was sold at an average price of $17.09, for a total value of $427,250.00. Following the transaction, the chief executive officer now directly owns 510,636 shares in the company, valued at approximately $8,726,769.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 75,000 shares of company stock worth $1,289,500 in the last ninety days. 1.10% of the stock is owned by company insiders.

Verra Mobility Company Profile

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Verra Mobility Corp. engages in the provision of smart mobility technology solutions and services. It operates through the following segments: Government Solutions, Commercial Services, and Parking Solutions. The Government Solutions segment delivers traffic law enforcement services and products to state and local governments.