Lazard Asset Management LLC Acquires New Position in Verra Mobility Co. (NASDAQ:VRRM)

Lazard Asset Management LLC acquired a new stake in Verra Mobility Co. (NASDAQ:VRRM – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,176 shares of the company’s stock, valued at approximately $79,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Occudo Quantitative Strategies LP lifted its stake in shares of Verra Mobility by 2.7% in the second quarter. Occudo Quantitative Strategies LP now owns 23,015 shares of the company’s stock valued at $362,000 after purchasing an additional 598 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of Verra Mobility by 6.1% in the first quarter. Ameritas Investment Partners Inc. now owns 11,805 shares of the company’s stock valued at $192,000 after purchasing an additional 681 shares during the period. Legal & General Group Plc lifted its stake in shares of Verra Mobility by 0.6% in the second quarter. Legal & General Group Plc now owns 130,901 shares of the company’s stock valued at $2,056,000 after purchasing an additional 753 shares during the period. Laurel Wealth Advisors Inc. lifted its stake in shares of Verra Mobility by 2.2% in the first quarter. Laurel Wealth Advisors Inc. now owns 36,594 shares of the company’s stock valued at $596,000 after purchasing an additional 780 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of Verra Mobility by 68.0% in the third quarter. Signaturefd LLC now owns 2,174 shares of the company’s stock valued at $33,000 after purchasing an additional 880 shares during the period.

Insider Transactions at Verra Mobility

In related news, CEO David Martin Roberts sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $17.09, for a total value of $427,250.00. Following the completion of the sale, the chief executive officer now directly owns 510,636 shares in the company, valued at $8,726,769.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 75,000 shares of company stock worth $1,289,500 over the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Verra Mobility Stock Performance

Shares of NASDAQ VRRM opened at $17.58 on Tuesday. The company has a market cap of $2.63 billion, a PE ratio of 35.88 and a beta of 1.19. Verra Mobility Co. has a 12 month low of $12.70 and a 12 month high of $17.79. The company has a debt-to-equity ratio of 5.15, a current ratio of 1.94 and a quick ratio of 1.84. The company has a 50-day simple moving average of $15.32 and a 200-day simple moving average of $15.48.

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

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.