Morgan Stanley Issues Pessimistic Forecast for Verra Mobility (NASDAQ:VRRM) Stock Price

Verra Mobility (NASDAQ:VRRM) had its target price lowered by equities research analysts at Morgan Stanley from $25.00 to $23.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 13.92% from the stock’s current price.

Verra Mobility Trading Down 2.9 %

Shares of NASDAQ VRRM opened at $20.19 on Thursday. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 33.65, a price-to-earnings-growth ratio of 2.18 and a beta of 1.30. The stock’s 50 day simple moving average is $24.03 and its 200 day simple moving average is $24.77. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13. Verra Mobility has a 12-month low of $19.51 and a 12-month high of $31.03.

Institutional Trading of Verra Mobility

Several hedge funds have recently bought and sold shares of VRRM. Smartleaf Asset Management LLC increased its stake in shares of Verra Mobility by 245.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company’s stock valued at $56,000 after purchasing an additional 1,640 shares during the period. Avanza Fonder AB bought a new position in Verra Mobility in the 4th quarter worth approximately $74,000. Aster Capital Management DIFC Ltd increased its position in Verra Mobility by 585.1% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company’s stock valued at $114,000 after acquiring an additional 4,031 shares during the period. Arcadia Investment Management Corp MI bought a new stake in Verra Mobility during the 4th quarter valued at $129,000. Finally, PNC Financial Services Group Inc. boosted its position in Verra Mobility by 6.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company’s stock worth $154,000 after acquiring an additional 409 shares during the period.

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.