Victory Capital Management Inc. Sells 190,873 Shares of Verra Mobility Co. (NASDAQ:VRRM)

Posted by Defense World Staff on May 24th, 2023

Victory Capital Management Inc. trimmed its stake in Verra Mobility Co. (NASDAQ:VRRM – Get Rating) by 16.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 941,111 shares of the company’s stock after selling 190,873 shares during the quarter. Victory Capital Management Inc. owned 0.63% of Verra Mobility worth $13,771,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Verra Mobility by 5.7% during the third quarter. Vanguard Group Inc. now owns 14,679,035 shares of the company’s stock valued at $225,617,000 after purchasing an additional 796,360 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Verra Mobility by 3.5% during the first quarter. BlackRock Inc. now owns 9,741,503 shares of the company’s stock valued at $158,592,000 after purchasing an additional 329,023 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Verra Mobility by 13.3% during the fourth quarter. Handelsbanken Fonder AB now owns 3,533,800 shares of the company’s stock valued at $48,872,000 after purchasing an additional 414,200 shares in the last quarter. Blue Grotto Capital LLC lifted its holdings in shares of Verra Mobility by 23.4% during the fourth quarter. Blue Grotto Capital LLC now owns 3,175,186 shares of the company’s stock valued at $43,913,000 after purchasing an additional 601,966 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Verra Mobility by 1.0% during the third quarter. State Street Corp now owns 3,038,210 shares of the company’s stock valued at $46,697,000 after purchasing an additional 31,516 shares in the last quarter.

Verra Mobility Stock Up 0.4 %

Verra Mobility stock opened at $17.81 on Wednesday. The stock has a market cap of $2.68 billion, a PE ratio of 38.72 and a beta of 1.19. 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 Co. has a one year low of $12.76 and a one year high of $18.07. The stock has a fifty day moving average of $16.94 and a 200 day moving average of $15.80.

Verra Mobility (NASDAQ:VRRM – Get Rating) last posted its quarterly earnings data on Wednesday, March 1st. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $186.07 million during the quarter, compared to analysts’ expectations of $184.79 million. Verra Mobility had a return on equity of 69.16% and a net margin of 11.40%. Verra Mobility’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share. As a group, sell-side analysts predict that Verra Mobility Co. will post 0.91 EPS for the current year.

Insiders Place Their Bets

In other Verra Mobility news, CEO David Martin Roberts sold 25,000 shares of the company’s stock in a transaction dated Monday, February 27th. The stock was 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 owns 510,636 shares in the company, valued at $8,726,769.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Verra Mobility news, EVP Steve Lalla sold 48,000 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $17.38, for a total value of $834,240.00. Following the completion of the sale, the executive vice president now owns 4,697 shares in the company, valued at $81,633.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David Martin Roberts sold 25,000 shares of the company’s stock in a transaction dated Monday, February 27th. The stock was 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 owns 510,636 shares of the company’s stock, valued at approximately $8,726,769.24. The disclosure for this sale can be found here. Insiders sold a total of 123,000 shares of company stock worth $2,123,740 over the last quarter. 1.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

VRRM has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on Verra Mobility from $19.00 to $21.00 in a report on Thursday, March 2nd. Credit Suisse Group upped their price objective on Verra Mobility from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, March 3rd.

Verra Mobility Company Profile

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Verra Mobility Corp. engages in the provision of smart mobility technology solutions. It operates through the following segments: Government Solutions, Commercial Services, and Parking Solutions. The Government Solutions segment offers photo enforcement solutions and services. The Commercial Services segment provides toll and violation management solutions by partnering with the fleet management and rental car companies.