Maryland State Retirement & Pension System Decreases Stock Holdings in Verra Mobility Corp $VRRM

Maryland State Retirement & Pension System decreased its holdings in shares of Verra Mobility Corp (NASDAQ:VRRM) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,854 shares of the company’s stock after selling 1,261 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Verra Mobility were worth $1,190,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. KLP Kapitalforvaltning AS raised its stake in Verra Mobility by 7.1% during the second quarter. KLP Kapitalforvaltning AS now owns 33,300 shares of the company’s stock valued at $845,000 after purchasing an additional 2,200 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Verra Mobility by 3.8% during the second quarter. State of Alaska Department of Revenue now owns 94,820 shares of the company’s stock valued at $2,407,000 after purchasing an additional 3,504 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Verra Mobility by 9.1% during the second quarter. Public Employees Retirement System of Ohio now owns 245,941 shares of the company’s stock valued at $6,244,000 after purchasing an additional 20,446 shares in the last quarter. GAMMA Investing LLC raised its stake in Verra Mobility by 11.6% during the second quarter. GAMMA Investing LLC now owns 4,128 shares of the company’s stock valued at $105,000 after purchasing an additional 430 shares in the last quarter. Finally, Avanza Fonder AB raised its stake in Verra Mobility by 275.6% during the second quarter. Avanza Fonder AB now owns 5,994 shares of the company’s stock valued at $152,000 after purchasing an additional 4,398 shares in the last quarter.

Verra Mobility Trading Up 1.9%

NASDAQ VRRM opened at $23.93 on Monday. The company’s 50-day moving average price is $24.47 and its 200-day moving average price is $23.94. The company has a current ratio of 2.28, a quick ratio of 2.21 and a debt-to-equity ratio of 2.93. The stock has a market cap of $3.82 billion, a PE ratio of 99.71, a PEG ratio of 2.80 and a beta of 0.77. Verra Mobility Corp has a 12 month low of $19.51 and a 12 month high of $27.83.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VRRM. Weiss Ratings reissued a “hold (c-)” rating on shares of Verra Mobility in a research note on Wednesday, October 8th. Robert W. Baird increased their target price on shares of Verra Mobility from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, August 21st. Finally, Wall Street Zen downgraded shares of Verra Mobility from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $27.88.

Verra Mobility 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.