Harbor Capital Advisors Inc. Boosts Position in Verra Mobility Co. (NASDAQ:VRRM)

Harbor Capital Advisors Inc. grew its stake in shares of Verra Mobility Co. (NASDAQ:VRRM - Free Report) by 149.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 605,851 shares of the company's stock after purchasing an additional 363,357 shares during the quarter. Verra Mobility makes up approximately 0.7% of Harbor Capital Advisors Inc.'s investment portfolio, making the stock its 14th largest position. Harbor Capital Advisors Inc. owned approximately 0.36% of Verra Mobility worth $16,849,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Westwood Holdings Group Inc. bought a new position in Verra Mobility in the 1st quarter worth about $78,881,000. Swedbank AB bought a new position in shares of Verra Mobility during the 1st quarter worth $26,218,000. Lazard Asset Management LLC increased its stake in shares of Verra Mobility by 244.0% during the first quarter. Lazard Asset Management LLC now owns 1,309,245 shares of the company's stock valued at $32,691,000 after buying an additional 928,597 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Verra Mobility by 62.9% in the third quarter. New York State Common Retirement Fund now owns 1,152,330 shares of the company's stock valued at $32,046,000 after acquiring an additional 444,911 shares in the last quarter. Finally, Summit Creek Advisors LLC bought a new position in Verra Mobility during the 2nd quarter worth about $10,370,000.

Verra Mobility Stock Down 11.0 %

NASDAQ:VRRM traded down $2.85 during mid-day trading on Friday, hitting $23.12. 4,324,178 shares of the company's stock traded hands, compared to its average volume of 832,575. The company has a debt-to-equity ratio of 2.36, a quick ratio of 2.47 and a current ratio of 2.57. The company has a market capitalization of $3.81 billion, a P/E ratio of 38.53, a P/E/G ratio of 1.70 and a beta of 1.27. The company has a fifty day moving average of $27.03 and a 200 day moving average of $27.12. Verra Mobility Co. has a twelve month low of $18.76 and a twelve month high of $31.03.

Verra Mobility (NASDAQ:VRRM - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.01. Verra Mobility had a net margin of 11.64% and a return on equity of 40.09%. The business had revenue of $222.43 million for the quarter, compared to analyst estimates of $220.32 million. During the same quarter in the prior year, the business posted $0.27 EPS. Verra Mobility's revenue for the quarter was up 8.8% compared to the same quarter last year. On average, analysts forecast that Verra Mobility Co. will post 1.07 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Verra Mobility from $26.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Robert W. Baird decreased their price objective on Verra Mobility from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Verra Mobility from $31.00 to $29.00 and set a "buy" rating for the company in a report on Friday.

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.