Verra Mobility Co. (NASDAQ:VRRM) Holdings Cut by ProShare Advisors LLC

ProShare Advisors LLC reduced its stake in shares of Verra Mobility Co. (NASDAQ:VRRM) by 23.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 21,665 shares of the company’s stock after selling 6,575 shares during the period. ProShare Advisors LLC’s holdings in Verra Mobility were worth $589,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Quest Partners LLC raised its position in Verra Mobility by 1,732.7% during the second 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. Allspring Global Investments Holdings LLC bought a new position in shares of Verra Mobility during the 1st quarter valued at $26,000. Picton Mahoney Asset Management acquired a new stake in shares of Verra Mobility in the 1st quarter valued at $74,000. Montag A & Associates Inc. boosted its holdings in Verra Mobility by 17.1% in the first quarter. Montag A & Associates Inc. now owns 3,045 shares of the company’s stock worth $76,000 after purchasing an additional 445 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in Verra Mobility by 713.5% during the second quarter. Fifth Third Bancorp now owns 3,124 shares of the company’s stock worth $85,000 after buying an additional 2,740 shares during the last quarter.

Wall Street Analysts Forecast Growth

VRRM has been the subject of several recent analyst reports. Morgan Stanley upped their price target on Verra Mobility from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft upped their target price on Verra Mobility from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, August 9th.

Verra Mobility Trading Up 1.3 %

Shares of NASDAQ:VRRM opened at $27.81 on Monday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 2.47 and a current ratio of 2.57. The stock’s 50-day moving average is $27.93 and its 200-day moving average is $26.74. The company has a market cap of $4.63 billion, a P/E ratio of 55.62, a P/E/G ratio of 1.83 and a beta of 1.27. Verra Mobility Co. has a 52-week low of $18.61 and a 52-week high of $31.03.

Verra Mobility (NASDAQ:VRRM) last released its earnings results on Thursday, August 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Verra Mobility had a return on equity of 39.89% and a net margin of 11.34%. The firm had revenue of $222.43 million for the quarter, compared to analyst estimates of $220.32 million. During the same quarter last year, the firm posted $0.27 EPS. The company’s revenue was up 8.8% on a year-over-year basis. Equities research analysts predict that Verra Mobility Co. will post 1.07 earnings per share for the current year.

About Verra Mobility

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.