Hsbc Holdings PLC Raises Stock Holdings in Verra Mobility Co. (NASDAQ:VRRM)

Hsbc Holdings PLC raised its stake in Verra Mobility Co. (NASDAQ:VRRM) by 6.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,471 shares of the company’s stock after purchasing an additional 892 shares during the period. Hsbc Holdings PLC’s holdings in Verra Mobility were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Westwood Holdings Group Inc. acquired a new position in shares of Verra Mobility during the first quarter worth $78,881,000. Swedbank AB acquired a new position in Verra Mobility during the 1st quarter valued at about $26,218,000. Lazard Asset Management LLC increased its position in Verra Mobility by 244.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,309,245 shares of the company’s stock valued at $32,691,000 after buying an additional 928,597 shares in the last quarter. Summit Creek Advisors LLC purchased a new stake in Verra Mobility in the second quarter valued at about $10,370,000. Finally, Jupiter Asset Management Ltd. boosted its holdings in Verra Mobility by 51.5% in the first quarter. Jupiter Asset Management Ltd. now owns 1,083,037 shares of the company’s stock worth $27,043,000 after acquiring an additional 367,976 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Verra Mobility from $28.00 to $31.00 and gave the company a “buy” rating in a report on Friday, August 9th. Morgan Stanley upped their price target on shares of Verra Mobility from $22.00 to $27.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 6th.

Verra Mobility Stock Down 0.7 %

Shares of VRRM stock opened at $27.61 on Wednesday. The stock’s 50-day simple moving average is $27.80 and its 200-day simple moving average is $26.80. The firm has a market capitalization of $4.60 billion, a PE ratio of 55.22, a P/E/G ratio of 1.83 and a beta of 1.27. The company has a debt-to-equity ratio of 2.36, a quick ratio of 2.47 and a current ratio of 2.57. Verra Mobility Co. has a fifty-two week low of $18.61 and a fifty-two week high of $31.03.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. Verra Mobility had a return on equity of 39.89% and a net margin of 11.34%. The business had revenue of $222.43 million for the quarter, compared to analyst estimates of $220.32 million. During the same quarter in the prior year, the firm posted $0.27 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities analysts expect 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.