Verra Mobility Co. (NASDAQ:VRRM) Short Interest Down 41.5% in November

Verra Mobility Co. (NASDAQ:VRRM) was the recipient of a significant drop in short interest in November. As of November 15th, there was short interest totalling 1,480,000 shares, a drop of 41.5% from the October 31st total of 2,530,000 shares. Based on an average daily volume of 1,160,000 shares, the short-interest ratio is currently 1.3 days.

Wall Street Analyst Weigh In

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

Verra Mobility Stock Performance

Verra Mobility stock opened at $23.57 on Thursday. Verra Mobility has a 1-year low of $19.67 and a 1-year high of $31.03. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13. The firm has a market capitalization of $3.88 billion, a PE ratio of 39.28, a price-to-earnings-growth ratio of 2.14 and a beta of 1.27. The firm’s 50 day simple moving average is $25.74 and its 200 day simple moving average is $26.96.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The firm had revenue of $225.55 million for the quarter, compared to analysts’ expectations of $226.65 million. During the same quarter in the prior year, the firm posted $0.27 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, analysts expect that Verra Mobility will post 1.08 earnings per share for the current fiscal year.

Institutional Trading of Verra Mobility

A number of large investors have recently modified their holdings of the business. Wellington Management Group LLP raised its stake in Verra Mobility by 13.2% in the third quarter. Wellington Management Group LLP now owns 8,065,795 shares of the company’s stock valued at $224,310,000 after purchasing an additional 941,127 shares in the last quarter. State Street Corp raised its position in shares of Verra Mobility by 6.0% during the 3rd quarter. State Street Corp now owns 6,301,131 shares of the company’s stock valued at $175,234,000 after buying an additional 357,078 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Verra Mobility by 7.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 4,015,800 shares of the company’s stock worth $111,679,000 after acquiring an additional 261,500 shares during the last quarter. Geode Capital Management LLC grew its position in Verra Mobility by 0.5% in the third quarter. Geode Capital Management LLC now owns 3,904,750 shares of the company’s stock worth $108,612,000 after acquiring an additional 17,688 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Verra Mobility by 6.4% in the third quarter. Principal Financial Group Inc. now owns 3,756,352 shares of the company’s stock valued at $104,464,000 after acquiring an additional 225,585 shares during the last quarter.

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.