Premier Fund Managers Ltd Acquires 7,199 Shares of Verra Mobility Co. (NASDAQ:VRRM)

Premier Fund Managers Ltd lifted its holdings in shares of Verra Mobility Co. (NASDAQ:VRRM) by 13.3% in the third quarter, Holdings Channel.com reports. The fund owned 61,278 shares of the company’s stock after purchasing an additional 7,199 shares during the period. Premier Fund Managers Ltd’s holdings in Verra Mobility were worth $1,704,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in Verra Mobility in the 1st quarter worth $26,000. Vanguard Group Inc. raised its stake in Verra Mobility by 1.3% in the first quarter. Vanguard Group Inc. now owns 17,466,733 shares of the company’s stock worth $436,144,000 after buying an additional 231,566 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Verra Mobility by 17.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 12,270 shares of the company’s stock worth $306,000 after buying an additional 1,829 shares during the period. UniSuper Management Pty Ltd bought a new stake in Verra Mobility during the 1st quarter valued at approximately $782,000. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of Verra Mobility by 19.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 157,510 shares of the company’s stock worth $3,931,000 after acquiring an additional 25,447 shares during the period.

Verra Mobility Stock Performance

Shares of VRRM opened at $23.01 on Wednesday. The company has a quick ratio of 2.52, a current ratio of 2.61 and a debt-to-equity ratio of 2.13. The stock has a market cap of $3.79 billion, a P/E ratio of 38.35, a P/E/G ratio of 2.09 and a beta of 1.27. The business’s 50 day moving average price is $26.10 and its 200-day moving average price is $27.07. Verra Mobility Co. has a 52 week low of $19.63 and a 52 week high of $31.03.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The company 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 EPS. Verra Mobility’s revenue was up 7.4% compared to the same quarter last year. Equities research analysts anticipate that Verra Mobility Co. will post 1.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VRRM. Deutsche Bank Aktiengesellschaft lowered their target price on Verra Mobility from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Morgan Stanley lowered their price objective on 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. Finally, Robert W. Baird reduced their target price on shares of Verra Mobility from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st.

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.