Short Interest in Verra Mobility Co. (NASDAQ:VRRM) Drops By 41.5%

Verra Mobility Co. (NASDAQ:VRRM) saw 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 trading volume, of 1,160,000 shares, the short-interest ratio is currently 1.3 days.

Analysts Set New Price Targets

VRRM has been the topic of several recent analyst reports. Robert W. Baird reduced their target price on 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 reduced their price objective on 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 decreased their target price on Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th.

Verra Mobility Price Performance

Shares of VRRM stock opened at $23.57 on Friday. 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’s 50 day moving average is $25.58 and its 200-day moving average is $26.91. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 39.28, a PEG ratio of 2.10 and a beta of 1.27.

Verra Mobility (NASDAQ:VRRM) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $225.55 million for 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 business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. Sell-side analysts forecast that Verra Mobility will post 1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Verra Mobility

Hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. lifted its position in Verra Mobility by 1.5% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 27,283 shares of the company’s stock valued at $742,000 after purchasing an additional 391 shares during the period. US Bancorp DE raised its stake in shares of Verra Mobility by 10.3% during the third quarter. US Bancorp DE now owns 4,478 shares of the company’s stock worth $125,000 after buying an additional 418 shares during the last quarter. Signaturefd LLC lifted its holdings in Verra Mobility by 112.4% in the third quarter. Signaturefd LLC now owns 1,060 shares of the company’s stock valued at $29,000 after buying an additional 561 shares during the period. RiverPark Advisors LLC grew its holdings in Verra Mobility by 3.5% during the 3rd quarter. RiverPark Advisors LLC now owns 19,217 shares of the company’s stock worth $534,000 after acquiring an additional 642 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Verra Mobility by 27.5% during the 3rd quarter. Blue Trust Inc. now owns 3,219 shares of the company’s stock valued at $88,000 after acquiring an additional 694 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.