Teacher Retirement System of Texas Makes New $541,000 Investment in Verra Mobility Corp (NASDAQ:VRRM)

Teacher Retirement System of Texas acquired a new stake in Verra Mobility Corp (NASDAQ:VRRM) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,016 shares of the company’s stock, valued at approximately $541,000.

A number of other hedge funds also recently modified their holdings of the stock. Peregrine Capital Management LLC raised its holdings in Verra Mobility by 3.4% in the 1st quarter. Peregrine Capital Management LLC now owns 559,909 shares of the company’s stock valued at $12,604,000 after acquiring an additional 18,620 shares during the period. Illinois Municipal Retirement Fund grew its position in shares of Verra Mobility by 10.0% in the first quarter. Illinois Municipal Retirement Fund now owns 95,803 shares of the company’s stock valued at $2,157,000 after purchasing an additional 8,697 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Verra Mobility by 32.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 11,451 shares of the company’s stock worth $258,000 after purchasing an additional 2,823 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Verra Mobility by 30.1% during the first quarter. Exchange Traded Concepts LLC now owns 37,276 shares of the company’s stock worth $839,000 after purchasing an additional 8,631 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Verra Mobility during the 1st quarter worth approximately $816,000.

Verra Mobility Trading Up 1.9%

Shares of Verra Mobility stock opened at $24.96 on Thursday. The company has a quick ratio of 2.10, a current ratio of 2.19 and a debt-to-equity ratio of 3.45. Verra Mobility Corp has a 12-month low of $19.51 and a 12-month high of $31.03. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 124.80, a PEG ratio of 2.35 and a beta of 0.77. The firm’s 50-day moving average price is $24.43 and its two-hundred day moving average price is $23.81.

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

Analyst Ratings Changes

Several research firms have weighed in on VRRM. UBS Group lowered their price objective on Verra Mobility from $31.50 to $29.50 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Robert W. Baird raised their price target on shares of Verra Mobility from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Morgan Stanley cut 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 report on Thursday, March 27th. Wall Street Zen raised shares of Verra Mobility from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 12th. Finally, Baird R W upgraded Verra Mobility from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Verra Mobility currently has a consensus rating of “Buy” and an average price target of $27.38.

Insider Activity

In related 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 transaction of $454,497.32. Following the sale, the insider owned 1,179 shares of the company’s stock, valued at $28,626.12. This trade represents a 94.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.05% of the company’s stock.

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.