Resona Asset Management Co. Ltd. Takes Position in Verra Mobility Corp $VRRM

Resona Asset Management Co. Ltd. acquired a new position in Verra Mobility Corp (NASDAQ:VRRM) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 7,900 shares of the company’s stock, valued at approximately $201,000.

Several other institutional investors also recently bought and sold shares of VRRM. GAMMA Investing LLC grew its position in Verra Mobility by 11.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,128 shares of the company’s stock worth $105,000 after acquiring an additional 430 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Verra Mobility by 46.6% during the second quarter. Farther Finance Advisors LLC now owns 1,447 shares of the company’s stock valued at $37,000 after purchasing an additional 460 shares during the period. Xponance Inc. boosted its stake in shares of Verra Mobility by 4.9% during the first quarter. Xponance Inc. now owns 12,451 shares of the company’s stock valued at $280,000 after purchasing an additional 586 shares during the period. Townsquare Capital LLC grew its holdings in shares of Verra Mobility by 5.9% in the first quarter. Townsquare Capital LLC now owns 12,110 shares of the company’s stock worth $273,000 after purchasing an additional 674 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of Verra Mobility by 2.0% in the second quarter. Exchange Traded Concepts LLC now owns 38,004 shares of the company’s stock worth $965,000 after buying an additional 728 shares during the period.

Verra Mobility Price Performance

Shares of NASDAQ VRRM opened at $22.99 on Wednesday. Verra Mobility Corp has a 1 year low of $19.51 and a 1 year high of $27.20. The stock has a market capitalization of $3.67 billion, a P/E ratio of 71.85, a P/E/G ratio of 2.79 and a beta of 0.76. The company’s 50-day moving average is $24.10 and its 200 day moving average is $24.25. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.28 and a quick ratio of 2.21.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.34 by $0.03. Verra Mobility had a return on equity of 65.57% and a net margin of 5.42%.The business had revenue of $261.94 million during the quarter, compared to analyst estimates of $237.68 million. During the same quarter last year, the firm posted $0.32 earnings per share. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. Verra Mobility has set its FY 2025 guidance at 1.300-1.350 EPS. On average, sell-side analysts expect that Verra Mobility Corp will post 1.08 earnings per share for the current year.

Wall Street Analyst Weigh In

VRRM has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Verra Mobility in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Verra Mobility from a “strong-buy” rating to a “buy” rating in a report on Sunday. UBS Group raised their target price on Verra Mobility from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Robert W. Baird upped their price target on Verra Mobility from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

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.