Fmr LLC Cuts Stake in Verra Mobility Co. (NASDAQ:VRRM)

FMR LLC trimmed its holdings in Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 69.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,248,012 shares of the company's stock after selling 5,191,913 shares during the quarter. FMR LLC owned approximately 1.36% of Verra Mobility worth $62,517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VRRM. Truvestments Capital LLC boosted its position in shares of Verra Mobility by 10.2% during the 3rd quarter. Truvestments Capital LLC now owns 24,552 shares of the company's stock valued at $683,000 after acquiring an additional 2,279 shares during the last quarter. Citigroup Inc. boosted its position in shares of Verra Mobility by 73.0% during the 3rd quarter. Citigroup Inc. now owns 222,910 shares of the company's stock valued at $6,199,000 after acquiring an additional 94,073 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Verra Mobility by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,719,661 shares of the company's stock valued at $47,824,000 after acquiring an additional 37,131 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Verra Mobility during the 3rd quarter valued at approximately $924,000. Finally, Moran Wealth Management LLC boosted its position in shares of Verra Mobility by 32.5% during the 3rd quarter. Moran Wealth Management LLC now owns 21,002 shares of the company's stock valued at $584,000 after acquiring an additional 5,152 shares during the last quarter.

Verra Mobility Trading Down 0.8 %

VRRM traded down $0.19 during trading on Friday, reaching $23.71. The company had a trading volume of 705,049 shares, compared to its average volume of 1,238,129. 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 business has a 50 day simple moving average of $25.10 and a 200-day simple moving average of $26.75. Verra Mobility Co. has a 52 week low of $20.26 and a 52 week high of $31.03. The stock has a market cap of $3.91 billion, a P/E ratio of 39.52, a PEG ratio of 2.11 and a beta of 1.23.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last released its earnings results 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 business had revenue of $225.55 million for the quarter, compared to analyst estimates of $226.65 million. During the same quarter last year, the firm posted $0.27 earnings per share. The business's revenue was up 7.4% compared to the same quarter last year. On average, equities analysts anticipate that Verra Mobility Co. will post 1.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley lowered their price target on Verra Mobility from $26.00 to $25.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lowered their price target on Verra Mobility from $31.00 to $29.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Finally, Robert W. Baird lowered their price target on Verra Mobility from $29.00 to $28.00 and set a "neutral" rating for the company in a research report on Friday, November 1st.

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.