Tidal Investments LLC Takes Position in Verra Mobility Co. (NASDAQ:VRRM)

Tidal Investments LLC purchased a new stake in Verra Mobility Co. (NASDAQ:VRRM) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 486,164 shares of the company’s stock, valued at approximately $11,755,000.

A number of other hedge funds also recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in shares of 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 purchasing an additional 409 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Verra Mobility by 2.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 18,308 shares of the company’s stock valued at $443,000 after purchasing an additional 448 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Verra Mobility by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 28,645 shares of the company’s stock valued at $693,000 after purchasing an additional 725 shares in the last quarter. Xponance Inc. boosted its stake in shares of Verra Mobility by 9.5% in the 4th quarter. Xponance Inc. now owns 11,865 shares of the company’s stock valued at $287,000 after purchasing an additional 1,025 shares in the last quarter. Finally, Summit Creek Advisors LLC boosted its position in Verra Mobility by 0.3% during the 4th quarter. Summit Creek Advisors LLC now owns 389,923 shares of the company’s stock worth $9,428,000 after buying an additional 1,200 shares during the period.

Verra Mobility Stock Up 0.1%

NASDAQ:VRRM opened at $23.72 on Monday. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.61 and a quick ratio of 2.52. Verra Mobility Co. has a one year low of $19.51 and a one year high of $31.03. The firm’s 50 day simple moving average is $21.93 and its 200 day simple moving average is $23.53. The company has a market cap of $3.79 billion, a PE ratio of 39.53, a P/E/G ratio of 2.18 and a beta of 0.80.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The firm had revenue of $223.25 million during the quarter, compared to analyst estimates of $216.94 million. During the same quarter last year, the business earned $0.27 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. On average, research analysts anticipate that Verra Mobility Co. will post 1.08 earnings per share for the current year.

Insiders Place Their Bets

In other Verra Mobility news, insider Jonathan Keyser sold 18,719 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $24.28, for a total transaction of $454,497.32. Following the completion of the transaction, the insider now owns 1,179 shares in the company, valued at approximately $28,626.12. This trade represents a 94.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.05% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. UBS Group cut their target price on shares of Verra Mobility from $31.50 to $29.50 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Baird R W upgraded shares of Verra Mobility from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 22nd. Robert W. Baird lifted their target price on shares of Verra Mobility from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Finally, Morgan Stanley cut their target price on shares of Verra Mobility from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $27.38.

Verra Mobility Company 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.