Connor Clark & Lunn Investment Management Ltd. Trims Stock Holdings in Verra Mobility Co. (NASDAQ:VRRM)

Connor Clark & Lunn Investment Management Ltd. lowered its position in Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 75.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,322 shares of the company's stock after selling 124,307 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Verra Mobility were worth $1,149,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Premier Fund Managers Ltd lifted its position in shares of Verra Mobility by 13.3% during the 3rd quarter. Premier Fund Managers Ltd now owns 61,278 shares of the company's stock valued at $1,704,000 after buying an additional 7,199 shares in the last quarter. Braun Stacey Associates Inc. grew its position in shares of Verra Mobility by 148.0% in the third quarter. Braun Stacey Associates Inc. now owns 439,904 shares of the company's stock valued at $12,234,000 after purchasing an additional 262,509 shares during the period. Quest Partners LLC increased its stake in shares of Verra Mobility by 13,071.3% during the third quarter. Quest Partners LLC now owns 132,767 shares of the company's stock worth $3,692,000 after purchasing an additional 131,759 shares in the last quarter. RiverPark Advisors LLC increased its stake in shares of Verra Mobility by 3.5% during the third quarter. RiverPark Advisors LLC now owns 19,217 shares of the company's stock worth $534,000 after purchasing an additional 642 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its position in shares of Verra Mobility by 125.7% during the 3rd quarter. Mutual of America Capital Management LLC now owns 61,775 shares of the company's stock worth $1,718,000 after purchasing an additional 34,404 shares during the last quarter.

Wall Street Analyst Weigh In

VRRM has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced 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. Morgan Stanley reduced 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. Finally, Robert W. Baird lowered their target price on shares of Verra Mobility from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Friday, November 1st.

Verra Mobility Price Performance

Shares of Verra Mobility stock traded down $0.04 on Thursday, hitting $23.57. 771,028 shares of the company were exchanged, compared to its average volume of 1,097,253. The company has a quick ratio of 2.52, a current ratio of 2.61 and a debt-to-equity ratio of 2.13. The company has a 50-day moving average price of $25.67 and a 200 day moving average price of $26.93. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 39.28, a price-to-earnings-growth ratio of 2.14 and a beta of 1.27. Verra Mobility Co. has a 1-year low of $19.67 and a 1-year high of $31.03.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, hitting analysts' consensus estimates of $0.32. Verra Mobility had a return on equity of 38.97% and a net margin of 11.64%. The company had revenue of $225.55 million for the quarter, compared to analyst estimates of $226.65 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, sell-side analysts predict that Verra Mobility Co. will post 1.08 earnings per share 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.