Verra Mobility Co. (NASDAQ:VRRM) Stock Position Trimmed by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS reduced its position in shares of Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 27.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,275 shares of the company's stock after selling 24,182 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Verra Mobility were worth $1,815,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Verra Mobility by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 17,466,733 shares of the company's stock worth $436,144,000 after purchasing an additional 231,566 shares during the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Verra Mobility in the first quarter worth $782,000. BNP Paribas Financial Markets increased its stake in shares of Verra Mobility by 26.7% in the first quarter. BNP Paribas Financial Markets now owns 144,906 shares of the company's stock worth $3,618,000 after buying an additional 30,548 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Verra Mobility by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,180,519 shares of the company's stock valued at $86,512,000 after acquiring an additional 193,686 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its stake in Verra Mobility by 51.5% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,083,037 shares of the company's stock valued at $27,043,000 after acquiring an additional 367,976 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VRRM shares. Robert W. Baird dropped their target price on shares of Verra Mobility from $29.00 to $28.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. Morgan Stanley decreased their price target 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, Deutsche Bank Aktiengesellschaft cut their price objective on Verra Mobility from $31.00 to $29.00 and set a "buy" rating on the stock in a research note on Friday, November 1st.

Verra Mobility Stock Performance

VRRM stock traded up $0.18 during trading on Friday, hitting $23.44. 2,558,274 shares of the company's stock traded hands, compared to its average volume of 1,244,431. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 39.07, a price-to-earnings-growth ratio of 2.16 and a beta of 1.27. Verra Mobility Co. has a 52 week low of $18.76 and a 52 week high of $31.03. The stock has a fifty day moving average price of $26.60 and a two-hundred day moving average price of $27.11. The company has a quick ratio of 2.52, a current ratio of 2.61 and a debt-to-equity ratio of 2.13.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $225.55 million during the quarter, compared to analyst estimates of $226.65 million. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The company's quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 EPS. As a group, equities analysts anticipate that Verra Mobility Co. will post 1.07 EPS for the current fiscal year.

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.