Verra Mobility (NASDAQ:VRRM) Reaches New 1-Year High at $20.97

Posted by Defense World Staff on Aug 2nd, 2023

Verra Mobility Co. (NASDAQ:VRRM – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $20.97 and last traded at $20.97, with a volume of 3297 shares changing hands. The stock had previously closed at $20.38.

Analyst Upgrades and Downgrades

VRRM has been the subject of several recent research reports. Robert W. Baird boosted their price objective on Verra Mobility from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, July 20th. Deutsche Bank Aktiengesellschaft raised Verra Mobility from a “hold” rating to a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Verra Mobility Price Performance

The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 45.80 and a beta of 1.21. The company has a 50-day moving average price of $19.37 and a 200-day moving average price of $17.53. The company has a debt-to-equity ratio of 4.81, a quick ratio of 1.86 and a current ratio of 1.97.

Verra Mobility (NASDAQ:VRRM – Get Free Report) last posted its earnings results on Thursday, May 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.03. The company had revenue of $191.90 million during the quarter, compared to analyst estimates of $182.85 million. Verra Mobility had a return on equity of 69.16% and a net margin of 11.40%. On average, equities research analysts expect that Verra Mobility Co. will post 0.91 EPS for the current fiscal year.

Insider Transactions at Verra Mobility

In other news, EVP Steve Lalla sold 48,000 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $17.38, for a total transaction of $834,240.00. Following the completion of the transaction, the executive vice president now directly owns 4,697 shares in the company, valued at approximately $81,633.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Verra Mobility

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James & Associates grew its position in shares of Verra Mobility by 51.1% in the 1st quarter. Raymond James & Associates now owns 150,765 shares of the company’s stock valued at $2,551,000 after purchasing an additional 51,019 shares during the period. MQS Management LLC acquired a new position in Verra Mobility during the 4th quarter worth approximately $178,000. Origin Asset Management LLP acquired a new position in Verra Mobility during the 4th quarter worth approximately $147,000. Cornerstone Investment Partners LLC boosted its position in Verra Mobility by 51.4% during the 4th quarter. Cornerstone Investment Partners LLC now owns 18,607 shares of the company’s stock worth $257,000 after acquiring an additional 6,315 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Verra Mobility by 2.8% during the 1st quarter. Handelsbanken Fonder AB now owns 3,633,800 shares of the company’s stock worth $61,484,000 after acquiring an additional 100,000 shares during the last quarter.

Verra Mobility Company Profile

(Get Free Report)

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe. It operates through three segments: Commercial Services, Government Solutions, and Parking Solutions. The Commercial Services segment provides automated toll and violations management, and title and registration services to rental car companies, fleet management companies, and other large fleet owners.