HighTower Advisors LLC Sells 7,071 Shares of Verra Mobility Co. (NASDAQ:VRRM)

HighTower Advisors LLC reduced its stake in shares of Verra Mobility Co. (NASDAQ:VRRM) by 36.0% during the third quarter, Holdings Channel reports. The firm owned 12,581 shares of the company’s stock after selling 7,071 shares during the quarter. HighTower Advisors LLC’s holdings in Verra Mobility were worth $363,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in VRRM. Edgestream Partners L.P. purchased a new position in shares of Verra Mobility during the third quarter valued at about $7,039,000. Verition Fund Management LLC bought a new stake in Verra Mobility during the 3rd quarter valued at approximately $386,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Verra Mobility by 23.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,643,241 shares of the company’s stock worth $45,699,000 after acquiring an additional 313,080 shares during the period. CreativeOne Wealth LLC bought a new position in shares of Verra Mobility in the 3rd quarter worth approximately $910,000. Finally, Quantbot Technologies LP purchased a new position in shares of Verra Mobility in the 3rd quarter valued at approximately $1,719,000.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on VRRM shares. Morgan Stanley reduced their price target on 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. Robert W. Baird reduced their target price on shares of Verra Mobility from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Verra Mobility from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, November 1st.

Verra Mobility Stock Up 0.1 %

VRRM stock opened at $23.66 on Monday. The company has a quick ratio of 2.52, a current ratio of 2.61 and a debt-to-equity ratio of 2.13. The business has a 50 day moving average of $24.41 and a 200 day moving average of $26.54. Verra Mobility Co. has a twelve month low of $20.26 and a twelve month high of $31.03. The firm has a market cap of $3.90 billion, a PE ratio of 39.43, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23.

Verra Mobility (NASDAQ:VRRM) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $225.55 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $0.27 earnings per share. On average, research analysts forecast that Verra Mobility Co. will post 1.08 EPS for the current fiscal year.

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.