Verra Mobility Corp (NASDAQ:VRRM) Stock Holdings Lowered by M&T Bank Corp

M&T Bank Corp lowered its position in shares of Verra Mobility Corp (NASDAQ:VRRM) by 60.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 40,013 shares of the company’s stock after selling 61,845 shares during the period. M&T Bank Corp’s holdings in Verra Mobility were worth $901,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. LPL Financial LLC lifted its holdings in Verra Mobility by 8.4% in the fourth quarter. LPL Financial LLC now owns 151,920 shares of the company’s stock worth $3,673,000 after purchasing an additional 11,772 shares during the period. GAMMA Investing LLC lifted its holdings in Verra Mobility by 2,258.8% in the 1st quarter. GAMMA Investing LLC now owns 83,242 shares of the company’s stock valued at $1,874,000 after acquiring an additional 79,713 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Verra Mobility in the 1st quarter valued at about $816,000. Fox Run Management L.L.C. acquired a new stake in Verra Mobility in the 4th quarter valued at about $297,000. Finally, Bank of Montreal Can lifted its holdings in Verra Mobility by 10.1% in the 4th quarter. Bank of Montreal Can now owns 20,938 shares of the company’s stock valued at $506,000 after acquiring an additional 1,915 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have weighed in on VRRM. Baird R W raised shares of Verra Mobility from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 22nd. Morgan Stanley reduced their price objective on shares of Verra Mobility from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Wall Street Zen raised shares of Verra Mobility from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Robert W. Baird upped their price objective on shares of Verra Mobility from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Finally, UBS Group reduced their price objective on shares of Verra Mobility from $31.50 to $29.50 and set a “buy” rating for the company in a research note on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $27.38.

Insider Buying and Selling at Verra Mobility

In other news, insider Jonathan Keyser sold 18,719 shares of the company’s stock in a transaction dated 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 owned 1,179 shares in the company, valued at $28,626.12. This represents a 94.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.05% of the stock is owned by corporate insiders.

Verra Mobility Price Performance

Shares of VRRM opened at $24.99 on Tuesday. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 124.95, a P/E/G ratio of 2.38 and a beta of 0.77. Verra Mobility Corp has a fifty-two week low of $19.51 and a fifty-two week high of $31.03. The company has a debt-to-equity ratio of 3.45, a current ratio of 2.19 and a quick ratio of 2.10. The business’s 50-day moving average is $24.28 and its 200-day moving average is $23.79.

Verra Mobility (NASDAQ:VRRM) last issued its earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The company had revenue of $223.25 million for the quarter, compared to the consensus estimate of $216.94 million. Verra Mobility had a return on equity of 51.05% and a net margin of 3.88%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. Equities research analysts expect that Verra Mobility Corp will post 1.08 EPS for the current fiscal year.

Verra Mobility Company 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.