Norges Bank Makes New $21.74 Million Investment in Verra Mobility Co. (NASDAQ:VRRM)

Norges Bank acquired a new position in shares of Verra Mobility Co. (NASDAQ:VRRMFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 943,999 shares of the company’s stock, valued at approximately $21,740,000. Norges Bank owned about 0.57% of Verra Mobility as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its position in Verra Mobility by 98.0% during the 4th quarter. Pacer Advisors Inc. now owns 1,905 shares of the company’s stock valued at $44,000 after purchasing an additional 943 shares during the period. Montag A & Associates Inc. acquired a new position in Verra Mobility during the 4th quarter valued at about $60,000. NBC Securities Inc. acquired a new position in Verra Mobility during the 3rd quarter valued at about $62,000. GAMMA Investing LLC acquired a new position in Verra Mobility during the 4th quarter valued at about $65,000. Finally, Quadrant Capital Group LLC lifted its position in Verra Mobility by 99.5% during the 4th quarter. Quadrant Capital Group LLC now owns 3,081 shares of the company’s stock valued at $71,000 after purchasing an additional 1,537 shares during the period.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upped their target price on shares of Verra Mobility from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 27th.

Read Our Latest Stock Analysis on VRRM

Insider Activity at Verra Mobility

In other Verra Mobility news, Director John H. Rexford sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $22.82, for a total transaction of $228,200.00. Following the sale, the director now directly owns 41,275 shares in the company, valued at approximately $941,895.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.96% of the stock is currently owned by corporate insiders.

Verra Mobility Stock Performance

Shares of NASDAQ:VRRM opened at $26.64 on Monday. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 53.28, a P/E/G ratio of 1.80 and a beta of 1.16. The firm’s 50 day simple moving average is $25.47 and its 200 day simple moving average is $23.33. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.75 and a quick ratio of 2.64. Verra Mobility Co. has a fifty-two week low of $17.04 and a fifty-two week high of $28.45.

Verra Mobility (NASDAQ:VRRMGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $209.73 million for the quarter, compared to the consensus estimate of $202.78 million. Verra Mobility had a net margin of 9.77% and a return on equity of 37.87%. As a group, sell-side analysts forecast that Verra Mobility Co. will post 1.09 earnings per share for the current year.

About Verra Mobility

(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.

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Institutional Ownership by Quarter for Verra Mobility (NASDAQ:VRRM)

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