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% in the third quarter, according to its most recent filing with the SEC. The fund owned 12,581 shares of the company’s stock after selling 7,071 shares during the period. HighTower Advisors LLC’s holdings in Verra Mobility were worth $363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB raised its position in Verra Mobility by 7.0% during the third quarter. Handelsbanken Fonder AB now owns 4,015,800 shares of the company’s stock valued at $111,679,000 after purchasing an additional 261,500 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Verra Mobility by 6.4% during the 3rd quarter. Principal Financial Group Inc. now owns 3,756,352 shares of the company’s stock valued at $104,464,000 after purchasing an additional 225,585 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Verra Mobility by 7.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 3,380,416 shares of the company’s stock valued at $91,947,000 after buying an additional 221,385 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Verra Mobility by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,180,519 shares of the company’s stock worth $86,512,000 after buying an additional 193,686 shares during the last quarter. Finally, WCM Investment Management LLC boosted its stake in Verra Mobility by 3.3% in the third quarter. WCM Investment Management LLC now owns 2,055,006 shares of the company’s stock worth $57,150,000 after buying an additional 64,819 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased 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 decreased their target price on shares of 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 cut their price target on shares of 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

Shares of VRRM stock opened at $23.66 on Monday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 2.52 and a current ratio of 2.61. Verra Mobility Co. has a fifty-two week low of $20.26 and a fifty-two week high of $31.03. The company has a market capitalization of $3.90 billion, a P/E ratio of 39.43, a PEG ratio of 2.12 and a beta of 1.23. The stock has a 50 day moving average price of $24.41 and a two-hundred day moving average price of $26.54.

Verra Mobility (NASDAQ:VRRM) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $225.55 million during the quarter, compared to analyst estimates of $226.65 million. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 EPS. Analysts expect that Verra Mobility Co. will post 1.08 earnings per share for the current year.

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.