Verra Mobility Co. (NASDAQ:VRRM) Sees Large Increase in Short Interest

Verra Mobility Co. (NASDAQ:VRRM - Get Free Report) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 3,350,000 shares, an increase of 18.8% from the March 15th total of 2,820,000 shares. Approximately 2.1% of the company's stock are sold short. Based on an average trading volume of 1,280,000 shares, the days-to-cover ratio is currently 2.6 days.

Verra Mobility Stock Performance

Shares of NASDAQ VRRM traded down $0.18 during trading hours on Friday, reaching $21.91. The stock had a trading volume of 1,474,670 shares, compared to its average volume of 1,163,027. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 2.18 and a beta of 0.91. Verra Mobility has a fifty-two week low of $19.51 and a fifty-two week high of $31.03. The firm has a 50-day moving average of $22.23 and a 200-day moving average of $24.01. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13.

Hedge Funds Weigh In On Verra Mobility

Hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC boosted its stake in Verra Mobility by 245.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company's stock worth $56,000 after purchasing an additional 1,640 shares during the period. Avanza Fonder AB acquired a new stake in shares of Verra Mobility during the fourth quarter worth about $74,000. Aster Capital Management DIFC Ltd grew its holdings in shares of Verra Mobility by 585.1% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company's stock worth $114,000 after buying an additional 4,031 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Verra Mobility during the fourth quarter worth about $129,000. Finally, PNC Financial Services Group Inc. increased its position in Verra Mobility by 6.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company's stock valued at $154,000 after acquiring an additional 409 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Robert W. Baird upgraded Verra Mobility from a "neutral" rating to an "outperform" rating and set a $27.00 target price for the company in a research note on Tuesday. Morgan Stanley reduced their price objective on shares of Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Finally, Baird R W raised shares of Verra Mobility from a "hold" rating to a "strong-buy" rating in a research report on Tuesday.

About Verra Mobility

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.