Verra Mobility (NASDAQ:VRRM) Shares Down 10.8% – Here’s Why

Verra Mobility Co. (NASDAQ:VRRM)’s stock price was down 10.8% during mid-day trading on Friday . The company traded as low as $23.40 and last traded at $23.15. Approximately 219,799 shares were traded during trading, a decline of 79% from the average daily volume of 1,046,220 shares. The stock had previously closed at $25.95.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on VRRM shares. Robert W. Baird dropped 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 cut their price objective on shares of Verra Mobility from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Friday, November 1st.

Verra Mobility Price Performance

The firm has a 50-day moving average of $25.46 and a 200-day moving average of $25.67. The company has a debt-to-equity ratio of 2.13, a quick ratio of 2.52 and a current ratio of 2.61. The firm has a market capitalization of $3.77 billion, a P/E ratio of 38.15, a PEG ratio of 2.18 and a beta of 1.24.

Institutional Investors Weigh In On Verra Mobility

Several institutional investors have recently modified their holdings of the business. American Century Companies Inc. raised its position in Verra Mobility by 2,915.3% in the 4th quarter. American Century Companies Inc. now owns 2,086,049 shares of the company’s stock worth $50,441,000 after buying an additional 2,016,866 shares during the last quarter. Norges Bank purchased a new position in shares of Verra Mobility during the fourth quarter valued at approximately $46,156,000. Sunriver Management LLC purchased a new position in shares of Verra Mobility during the fourth quarter valued at approximately $33,503,000. Fiera Capital Corp bought a new position in Verra Mobility during the third quarter valued at approximately $33,905,000. Finally, Westwood Holdings Group Inc. boosted its holdings in Verra Mobility by 28.7% in the fourth quarter. Westwood Holdings Group Inc. now owns 4,460,793 shares of the company’s stock worth $107,862,000 after purchasing an additional 994,775 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.