Short Interest in Verra Mobility Corp (NASDAQ:VRRM) Grows By 25.4%

Verra Mobility Corp (NASDAQ:VRRM) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totaling 2,810,000 shares, a growth of 25.4% from the August 15th total of 2,240,000 shares. Currently, 1.8% of the company’s shares are sold short. Based on an average daily trading volume, of 926,000 shares, the short-interest ratio is presently 3.0 days. Based on an average daily trading volume, of 926,000 shares, the short-interest ratio is presently 3.0 days. Currently, 1.8% of the company’s shares are sold short.

Hedge Funds Weigh In On Verra Mobility

Large investors have recently modified their holdings of the company. US Bancorp DE raised its position in Verra Mobility by 76.6% in the 1st quarter. US Bancorp DE now owns 7,782 shares of the company’s stock valued at $175,000 after buying an additional 3,376 shares during the last quarter. Arizona State Retirement System raised its position in Verra Mobility by 4.2% in the 1st quarter. Arizona State Retirement System now owns 47,252 shares of the company’s stock valued at $1,064,000 after buying an additional 1,891 shares during the last quarter. Punch & Associates Investment Management Inc. raised its position in Verra Mobility by 2.4% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,121,731 shares of the company’s stock valued at $25,250,000 after buying an additional 26,067 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Verra Mobility by 155.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,280,591 shares of the company’s stock valued at $118,866,000 after buying an additional 3,215,973 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Verra Mobility by 2,258.8% in the 1st quarter. GAMMA Investing LLC now owns 83,242 shares of the company’s stock valued at $1,874,000 after buying an additional 79,713 shares during the last quarter.

Wall Street Analysts Forecast Growth

VRRM has been the topic of a number of research analyst reports. Robert W. Baird increased their price target on Verra Mobility from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Wall Street Zen cut Verra Mobility from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $27.88.

Verra Mobility Price Performance

Shares of VRRM opened at $24.39 on Friday. Verra Mobility has a 12-month low of $19.51 and a 12-month high of $28.25. The business’s fifty day moving average is $24.65 and its 200 day moving average is $23.54. The company has a quick ratio of 2.21, a current ratio of 2.28 and a debt-to-equity ratio of 2.93. The stock has a market cap of $3.89 billion, a P/E ratio of 101.63, a P/E/G ratio of 2.88 and a beta of 0.80.

Verra Mobility (NASDAQ:VRRM) last issued its earnings results on Wednesday, August 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Verra Mobility had a return on equity of 55.14% and a net margin of 4.30%.The company had revenue of $236.03 million for the quarter, compared to analysts’ expectations of $232.78 million. During the same period last year, the business earned $0.31 EPS. Verra Mobility’s quarterly revenue was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that Verra Mobility will post 1.08 earnings per share for the current fiscal year.

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.