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

Verra Mobility Co. (NASDAQ:VRRM) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 4,680,000 shares, a decrease of 14.1% from the December 15th total of 5,450,000 shares. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is currently 4.0 days.

Analyst Upgrades and Downgrades

VRRM has been the subject of several research analyst reports. Morgan Stanley dropped their target price on shares of Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on Verra Mobility from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Robert W. Baird decreased their price target on Verra Mobility from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st.

Verra Mobility Stock Performance

Shares of NASDAQ:VRRM opened at $25.18 on Thursday. Verra Mobility has a 12 month low of $20.26 and a 12 month high of $31.03. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 41.97, a price-to-earnings-growth ratio of 2.05 and a beta of 1.23. 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 has a 50-day moving average price of $23.84 and a 200-day moving average price of $26.26.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The business had revenue of $225.55 million for the quarter, compared to analysts’ expectations of $226.65 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities analysts anticipate that Verra Mobility will post 1.08 EPS for the current year.

Hedge Funds Weigh In On Verra Mobility

A number of institutional investors have recently bought and sold shares of VRRM. Avanza Fonder AB bought a new position in shares of Verra Mobility in the 4th quarter worth approximately $74,000. Redhawk Wealth Advisors Inc. raised its holdings in Verra Mobility by 5.7% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 70,931 shares of the company’s stock worth $1,715,000 after purchasing an additional 3,819 shares in the last quarter. Tealwood Asset Management Inc. lifted its position in Verra Mobility by 1.4% during the fourth quarter. Tealwood Asset Management Inc. now owns 44,230 shares of the company’s stock valued at $1,069,000 after buying an additional 592 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Verra Mobility by 1.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 615,905 shares of the company’s stock worth $14,893,000 after buying an additional 10,054 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Verra Mobility by 0.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,463,246 shares of the company’s stock valued at $179,743,000 after acquiring an additional 36,585 shares during the period.

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.