Point72 Hong Kong Ltd Invests $27,000 in Verra Mobility Co. (NASDAQ:VRRM)

Posted by Defense World Staff on Mar 7th, 2023

Point72 Hong Kong Ltd bought a new position in Verra Mobility Co. (NASDAQ:VRRM – Get Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,770 shares of the company’s stock, valued at approximately $27,000.

A number of other hedge funds have also recently modified their holdings of the stock. Occudo Quantitative Strategies LP raised its holdings in Verra Mobility by 2.7% in the 2nd quarter. Occudo Quantitative Strategies LP now owns 23,015 shares of the company’s stock worth $362,000 after purchasing an additional 598 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Verra Mobility by 6.1% in the 1st quarter. Ameritas Investment Partners Inc. now owns 11,805 shares of the company’s stock worth $192,000 after purchasing an additional 681 shares during the period. Legal & General Group Plc raised its holdings in Verra Mobility by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 130,901 shares of the company’s stock worth $2,056,000 after purchasing an additional 753 shares during the period. Laurel Wealth Advisors Inc. raised its holdings in Verra Mobility by 2.2% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 36,594 shares of the company’s stock worth $596,000 after purchasing an additional 780 shares during the period. Finally, Signaturefd LLC raised its holdings in Verra Mobility by 68.0% in the 3rd quarter. Signaturefd LLC now owns 2,174 shares of the company’s stock worth $33,000 after purchasing an additional 880 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VRRM. Credit Suisse Group increased their target price on Verra Mobility from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday. Deutsche Bank Aktiengesellschaft increased their price objective on Verra Mobility from $19.00 to $21.00 in a research report on Thursday, March 2nd. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Verra Mobility presently has an average rating of “Hold” and a consensus price target of $18.50.

Verra Mobility Trading Down 0.8 %

NASDAQ:VRRM opened at $17.58 on Tuesday. The firm has a market cap of $2.63 billion, a PE ratio of 35.88 and a beta of 1.19. The stock has a fifty day moving average price of $15.32 and a 200 day moving average price of $15.48. Verra Mobility Co. has a 12-month low of $12.70 and a 12-month high of $17.79. The company has a current ratio of 1.94, a quick ratio of 1.84 and a debt-to-equity ratio of 5.15.

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

Insider Buying and Selling

In other Verra Mobility news, CEO David Martin Roberts sold 25,000 shares of Verra Mobility stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $17.64, for a total value of $441,000.00. Following the sale, the chief executive officer now owns 485,636 shares of the company’s stock, valued at approximately $8,566,619.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 75,000 shares of company stock valued at $1,289,500 over the last quarter. 0.57% of the stock is currently owned by insiders.

About Verra Mobility

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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.