Verra Mobility (NASDAQ:VRRM) Shares Gap Up to $15.97

Verra Mobility Corp (NASDAQ:VRRM) gapped up before the market opened on Friday . The stock had previously closed at $15.58, but opened at $15.97. Verra Mobility shares last traded at $15.97, with a volume of 3,680,200 shares.

A number of equities research analysts recently commented on VRRM shares. Bank of America upgraded shares of Verra Mobility from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Monday, September 30th. Zacks Investment Research upgraded Verra Mobility from a “sell” rating to a “hold” rating in a research report on Saturday, January 11th. ValuEngine downgraded Verra Mobility from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Morgan Stanley started coverage on Verra Mobility in a report on Monday, October 28th. They set an “overweight” rating and a $18.50 price objective on the stock. Finally, Credit Suisse Group initiated coverage on Verra Mobility in a research report on Thursday. They issued an “outperform” rating and a $17.50 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Verra Mobility has an average rating of “Buy” and a consensus target price of $16.01.

The business’s fifty day moving average is $14.46 and its 200-day moving average is $14.24. The stock has a market capitalization of $2.54 billion, a PE ratio of -24.45 and a beta of 0.37. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 2.62.

Verra Mobility (NASDAQ:VRRM) last posted its earnings results on Tuesday, November 5th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Verra Mobility had a negative net margin of 3.20% and a positive return on equity of 17.80%. The company had revenue of $128.24 million during the quarter, compared to analyst estimates of $120.65 million. As a group, sell-side analysts anticipate that Verra Mobility Corp will post 0.61 EPS for the current fiscal year.

In related news, General Counsel Rebecca Collins sold 5,969 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $15.01, for a total transaction of $89,594.69. Following the completion of the transaction, the general counsel now owns 17,250 shares in the company, valued at approximately $258,922.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Platinum Equity Llc sold 17,250,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $14.10, for a total value of $243,225,000.00. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its stake in shares of Verra Mobility by 317.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,905 shares of the company’s stock worth $27,000 after purchasing an additional 1,449 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Verra Mobility in the second quarter valued at $69,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Verra Mobility by 48.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,840 shares of the company’s stock worth $98,000 after acquiring an additional 2,239 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Verra Mobility during the second quarter worth approximately $108,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Verra Mobility during the 3rd quarter valued at $208,000. Hedge funds and other institutional investors own 68.29% of the company’s stock.

About Verra Mobility (NASDAQ:VRRM)

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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