Oppenheimer Asset Management Inc. Makes New Investment in Verra Mobility Co. (NASDAQ:VRRM)

Oppenheimer Asset Management Inc. acquired a new stake in shares of Verra Mobility Co. (NASDAQ:VRRM) during the third quarter, according to its most recent filing with the SEC. The fund acquired 11,941 shares of the company’s stock, valued at approximately $332,000.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC increased its stake in Verra Mobility by 1,732.7% in the 2nd quarter. Quest Partners LLC now owns 1,008 shares of the company’s stock worth $27,000 after acquiring an additional 953 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Verra Mobility in the 1st quarter worth approximately $26,000. Signaturefd LLC raised its position in Verra Mobility by 112.4% in the 3rd quarter. Signaturefd LLC now owns 1,060 shares of the company’s stock worth $29,000 after purchasing an additional 561 shares during the period. Fifth Third Bancorp boosted its position in Verra Mobility by 713.5% during the second quarter. Fifth Third Bancorp now owns 3,124 shares of the company’s stock valued at $85,000 after buying an additional 2,740 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Verra Mobility by 27.5% in the 3rd quarter. Blue Trust Inc. now owns 3,219 shares of the company’s stock valued at $88,000 after acquiring an additional 694 shares during the last quarter.

Verra Mobility Trading Down 0.2 %

Shares of NASDAQ VRRM opened at $22.97 on Thursday. Verra Mobility Co. has a 1 year low of $19.63 and a 1 year high of $31.03. The firm has a 50-day moving average of $26.02 and a 200 day moving average of $27.04. The stock has a market cap of $3.79 billion, a P/E ratio of 38.28, a price-to-earnings-growth ratio of 2.09 and a beta of 1.27. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.61 and a quick ratio of 2.52.

Verra Mobility (NASDAQ:VRRM) last released its earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $225.55 million for the quarter, compared to the consensus estimate of $226.65 million. Verra Mobility had a return on equity of 38.97% and a net margin of 11.64%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. As a group, sell-side analysts expect that Verra Mobility Co. will post 1.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VRRM. Morgan Stanley dropped their price objective on Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft decreased their target price on Verra Mobility from $31.00 to $29.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Robert W. Baird reduced their price target on shares of Verra Mobility from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st.

About Verra Mobility

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.