Short Interest in Verra Mobility Co. (NASDAQ:VRRM) Grows By 77.4%

Verra Mobility Co. (NASDAQ:VRRM) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 2,820,000 shares, an increase of 77.4% from the February 28th total of 1,590,000 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average daily trading volume, of 1,180,000 shares, the short-interest ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley dropped their price objective on Verra Mobility from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Thursday.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. American Century Companies Inc. increased its holdings in Verra Mobility by 2,915.3% during the 4th quarter. American Century Companies Inc. now owns 2,086,049 shares of the company’s stock valued at $50,441,000 after acquiring an additional 2,016,866 shares in the last quarter. Norges Bank acquired a new position in shares of Verra Mobility during the 4th quarter worth approximately $46,156,000. Sunriver Management LLC purchased a new stake in Verra Mobility in the 4th quarter valued at approximately $33,503,000. Westwood Holdings Group Inc. grew its holdings in Verra Mobility by 28.7% during the 4th quarter. Westwood Holdings Group Inc. now owns 4,460,793 shares of the company’s stock valued at $107,862,000 after buying an additional 994,775 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Verra Mobility by 13.2% during the third quarter. Wellington Management Group LLP now owns 8,065,795 shares of the company’s stock worth $224,310,000 after buying an additional 941,127 shares in the last quarter.

Verra Mobility Stock Performance

VRRM opened at $20.19 on Friday. The stock’s 50 day simple moving average is $24.03 and its 200 day simple moving average is $24.75. The stock has a market cap of $3.22 billion, a P/E ratio of 33.65, a P/E/G ratio of 2.18 and a beta of 1.30. Verra Mobility has a 1-year low of $19.51 and a 1-year high of $31.03. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.61 and a quick ratio of 2.52.

About Verra Mobility

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.