Short Interest in Verra Mobility Co. (NASDAQ:VRRM) Grows By 77.4%

Verra Mobility Co. (NASDAQ:VRRM - Get Free Report) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 2,820,000 shares, an increase of 77.4% from the February 28th total of 1,590,000 shares. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is presently 2.4 days. Approximately 1.8% of the company's shares are short sold.

Institutional Trading of Verra Mobility

A number of hedge funds have recently bought and sold shares of VRRM. Natixis Advisors LLC raised its position in shares of Verra Mobility by 61.9% in the 3rd quarter. Natixis Advisors LLC now owns 19,059 shares of the company's stock worth $530,000 after acquiring an additional 7,285 shares in the last quarter. Intech Investment Management LLC bought a new position in Verra Mobility in the third quarter worth about $924,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Verra Mobility by 2.2% in 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 buying an additional 37,131 shares in the last quarter. Citigroup Inc. raised its stake in shares of Verra Mobility by 73.0% during the 3rd quarter. Citigroup Inc. now owns 222,910 shares of the company's stock worth $6,199,000 after acquiring an additional 94,073 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Verra Mobility during the third quarter valued at approximately $1,719,000.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley decreased their target price on Verra Mobility from $25.00 to $23.00 and set an "equal weight" rating for the company in a research report on Thursday.

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Verra Mobility Stock Up 11.5 %

Shares of VRRM traded up $2.32 during mid-day trading on Monday, hitting $22.51. The company's stock had a trading volume of 3,825,586 shares, compared to its average volume of 1,119,454. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13. The company's 50-day moving average is $24.03 and its 200-day moving average is $24.74. Verra Mobility has a 52-week low of $19.51 and a 52-week high of $31.03. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 37.52, a PEG ratio of 2.18 and a beta of 1.30.

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.