Verra Mobility Co. (NASDAQ:VRRM) Sees Significant Drop in Short Interest

Verra Mobility Co. (NASDAQ:VRRM) was the recipient of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,480,000 shares, a decline of 41.5% from the October 31st total of 2,530,000 shares. Based on an average daily trading volume, of 1,160,000 shares, the short-interest ratio is currently 1.3 days.

Verra Mobility Trading Down 0.2 %

VRRM opened at $23.57 on Thursday. Verra Mobility has a one year low of $19.67 and a one year high of $31.03. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.61 and a quick ratio of 2.52. The business has a 50 day simple moving average of $25.74 and a two-hundred day simple moving average of $26.96. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 39.28, a PEG ratio of 2.14 and a beta of 1.27.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $225.55 million during the quarter, compared to analyst estimates of $226.65 million. Verra Mobility had a return on equity of 38.97% and a net margin of 11.64%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. Analysts predict that Verra Mobility will post 1.08 EPS for the current year.

Hedge Funds Weigh In On Verra Mobility

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quest Partners LLC boosted its position in Verra Mobility by 1,732.7% during the 2nd quarter. Quest Partners LLC now owns 1,008 shares of the company’s stock valued at $27,000 after acquiring an additional 953 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Verra Mobility by 112.4% in the 3rd quarter. Signaturefd LLC now owns 1,060 shares of the company’s stock valued at $29,000 after purchasing an additional 561 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Verra Mobility by 192.0% during the third quarter. First Horizon Advisors Inc. now owns 1,133 shares of the company’s stock valued at $32,000 after purchasing an additional 745 shares in the last quarter. Fifth Third Bancorp grew its stake in Verra Mobility by 713.5% in the second quarter. Fifth Third Bancorp now owns 3,124 shares of the company’s stock worth $85,000 after purchasing an additional 2,740 shares during the period. Finally, Blue Trust Inc. raised its holdings in Verra Mobility by 27.5% in the third quarter. Blue Trust Inc. now owns 3,219 shares of the company’s stock worth $88,000 after purchasing an additional 694 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

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.