Millennium Management LLC Sells 5,281 Shares of Verra Mobility Co. (NASDAQ:VRRM)

Millennium Management LLC lessened its position in Verra Mobility Co. (NASDAQ:VRRM) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 121,892 shares of the company’s stock after selling 5,281 shares during the quarter. Millennium Management LLC owned approximately 0.07% of Verra Mobility worth $2,947,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in VRRM. American Century Companies Inc. lifted its position in Verra Mobility by 2,915.3% during the fourth quarter. American Century Companies Inc. now owns 2,086,049 shares of the company’s stock valued at $50,441,000 after buying an additional 2,016,866 shares during the period. Norges Bank purchased a new position in Verra Mobility during the 4th quarter valued at about $46,156,000. Sunriver Management LLC bought a new stake in Verra Mobility during the fourth quarter worth about $33,503,000. Price T Rowe Associates Inc. MD boosted its stake in Verra Mobility by 10.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,111,775 shares of the company’s stock worth $220,323,000 after acquiring an additional 837,648 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in Verra Mobility by 46.6% in the fourth quarter. Schroder Investment Management Group now owns 969,338 shares of the company’s stock worth $23,361,000 after purchasing an additional 308,187 shares during the period.

Insider Transactions at Verra Mobility

In other news, insider Jonathan Keyser sold 18,719 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $24.28, for a total value of $454,497.32. Following the transaction, the insider now directly owns 1,179 shares in the company, valued at $28,626.12. This trade represents a 94.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.05% of the company’s stock.

Verra Mobility Stock Performance

Shares of VRRM opened at $23.67 on Friday. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 39.45, a P/E/G ratio of 2.18 and a beta of 0.80. The business’s fifty day simple moving average is $22.56 and its two-hundred day simple moving average is $23.56. Verra Mobility Co. has a 12 month low of $19.51 and a 12 month high of $31.03. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.29 by $0.01. The company had revenue of $223.25 million during the quarter, compared to the consensus estimate of $216.94 million. Verra Mobility had a return on equity of 38.97% and a net margin of 11.64%. Verra Mobility’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company earned $0.27 EPS. Research analysts anticipate that Verra Mobility Co. will post 1.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of Verra Mobility from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Baird R W raised Verra Mobility from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 22nd. Morgan Stanley reduced their price target on Verra Mobility from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Finally, UBS Group lowered their price target on Verra Mobility from $31.50 to $29.50 and set a “buy” rating for the company in a research report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $27.38.

Verra Mobility Profile

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.