Assetmark Inc. Buys 42,041 Shares of Verra Mobility Co. (NASDAQ:VRRM)

Assetmark Inc. lifted its position in Verra Mobility Co. (NASDAQ:VRRM) by 539.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 49,841 shares of the company’s stock after purchasing an additional 42,041 shares during the quarter. Assetmark Inc.’s holdings in Verra Mobility were worth $1,386,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Crossmark Global Holdings Inc. increased its holdings in shares of Verra Mobility by 1.5% during the second quarter. Crossmark Global Holdings Inc. now owns 27,283 shares of the company’s stock worth $742,000 after buying an additional 391 shares in the last quarter. US Bancorp DE increased its holdings in Verra Mobility by 10.3% during the 3rd quarter. US Bancorp DE now owns 4,478 shares of the company’s stock valued at $125,000 after purchasing an additional 418 shares in the last quarter. Signaturefd LLC boosted its stake in Verra Mobility by 112.4% in the third quarter. Signaturefd LLC now owns 1,060 shares of the company’s stock worth $29,000 after purchasing an additional 561 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Verra Mobility by 27.5% during 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 during the last quarter. Finally, Sage Rhino Capital LLC increased its stake in shares of Verra Mobility by 3.3% in the second quarter. Sage Rhino Capital LLC now owns 24,548 shares of the company’s stock valued at $668,000 after buying an additional 793 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Verra Mobility Stock Performance

Shares of NASDAQ:VRRM opened at $23.32 on Friday. The business has a 50-day moving average price of $26.30 and a two-hundred day moving average price of $27.06. Verra Mobility Co. has a 1-year low of $19.63 and a 1-year high of $31.03. The stock has a market capitalization of $3.84 billion, a P/E ratio of 38.87, a P/E/G ratio of 2.10 and a beta of 1.27. 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 (NASDAQ:VRRM) last issued its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $225.55 million for the quarter, compared to analysts’ expectations of $226.65 million. Verra Mobility had a return on equity of 38.97% and a net margin of 11.64%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.27 earnings per share. Equities analysts predict that Verra Mobility Co. will post 1.08 earnings per share for the current year.

Verra Mobility 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.