Exchange Traded Concepts LLC Raises Position in Verra Mobility Corp $VRRM

Exchange Traded Concepts LLC lifted its stake in shares of Verra Mobility Corp (NASDAQ:VRRM) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,004 shares of the company’s stock after purchasing an additional 728 shares during the period. Exchange Traded Concepts LLC’s holdings in Verra Mobility were worth $965,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Verra Mobility by 12.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,265,348 shares of the company’s stock worth $231,074,000 after purchasing an additional 1,153,573 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Verra Mobility by 5.1% in the first quarter. Wellington Management Group LLP now owns 7,922,473 shares of the company’s stock worth $178,335,000 after acquiring an additional 386,760 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Verra Mobility by 155.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,280,591 shares of the company’s stock worth $118,866,000 after acquiring an additional 3,215,973 shares during the period. Westwood Holdings Group Inc. boosted its holdings in shares of Verra Mobility by 9.3% in the first quarter. Westwood Holdings Group Inc. now owns 4,873,442 shares of the company’s stock worth $109,701,000 after acquiring an additional 412,649 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Verra Mobility by 3.5% in the first quarter. Northern Trust Corp now owns 2,426,306 shares of the company’s stock worth $54,616,000 after acquiring an additional 83,168 shares during the period.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Robert W. Baird raised their price target on Verra Mobility from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Wall Street Zen lowered shares of Verra Mobility from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $27.88.

Verra Mobility Stock Down 0.4%

Shares of NASDAQ:VRRM opened at $24.36 on Wednesday. Verra Mobility Corp has a 52-week low of $19.51 and a 52-week high of $28.25. The firm has a fifty day moving average of $24.64 and a 200 day moving average of $23.60. The firm has a market capitalization of $3.89 billion, a PE ratio of 101.50, a price-to-earnings-growth ratio of 2.86 and a beta of 0.80. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.21 and a current ratio of 2.28.

Verra Mobility (NASDAQ:VRRM) last announced its earnings results on Wednesday, August 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. Verra Mobility had a net margin of 4.30% and a return on equity of 55.14%. The company had revenue of $236.03 million during the quarter, compared to analyst estimates of $232.78 million. During the same period in the previous year, the business earned $0.31 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, research analysts anticipate 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.