WCM Investment Management LLC Decreases Stake in Verra Mobility Corp $VRRM

WCM Investment Management LLC lessened its holdings in shares of Verra Mobility Corp (NASDAQ:VRRM) by 12.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,605,944 shares of the company’s stock after selling 219,345 shares during the quarter. WCM Investment Management LLC’s holdings in Verra Mobility were worth $39,763,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada boosted its position in Verra Mobility by 14.3% during the first quarter. Royal Bank of Canada now owns 148,464 shares of the company’s stock worth $3,342,000 after acquiring an additional 18,562 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Verra Mobility by 21.7% in the first quarter. AQR Capital Management LLC now owns 34,501 shares of the company’s stock valued at $777,000 after purchasing an additional 6,153 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Verra Mobility by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,120 shares of the company’s stock valued at $2,209,000 after purchasing an additional 4,302 shares during the last quarter. Millennium Management LLC boosted its stake in Verra Mobility by 208.0% during the first quarter. Millennium Management LLC now owns 375,421 shares of the company’s stock worth $8,451,000 after buying an additional 253,529 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Verra Mobility by 33.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,182,297 shares of the company’s stock worth $26,614,000 after buying an additional 293,082 shares during the last quarter.

Verra Mobility Trading Down 5.4%

VRRM opened at $18.25 on Tuesday. Verra Mobility Corp has a 52 week low of $17.08 and a 52 week high of $26.89. The company has a quick ratio of 2.35, a current ratio of 2.45 and a debt-to-equity ratio of 2.55. The business has a fifty day simple moving average of $21.85 and a 200-day simple moving average of $23.32. The firm has a market cap of $2.91 billion, a P/E ratio of 57.03, a P/E/G ratio of 3.05 and a beta of 0.59.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VRRM. UBS Group lifted their price target on Verra Mobility from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Wall Street Zen raised shares of Verra Mobility from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Verra Mobility in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. assumed coverage on Verra Mobility in a research report on Monday, January 26th. They issued a “neutral” rating and a $25.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.25.

Verra Mobility Profile

Verra Mobility, traded on the Nasdaq under the ticker VRRM, is a leading provider of smart mobility solutions designed to improve safety, efficiency and compliance for transportation authorities and commercial fleets. The company develops and operates automated traffic enforcement systems, toll and violation management platforms, and connected-vehicle services. Through its technology offerings, Verra Mobility helps public agencies enhance road safety, reduce congestion and streamline revenue collection for tolling and parking.

Verra Mobility’s core products include red-light and speed-camera enforcement programs, license plate recognition systems, and cloud-based violation processing software.