Harbor Capital Advisors Inc. Grows Position in Verra Mobility Co. (NASDAQ:VRRM)

Harbor Capital Advisors Inc. increased its holdings in Verra Mobility Co. (NASDAQ:VRRM) by 149.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 605,851 shares of the company’s stock after acquiring an additional 363,357 shares during the quarter. Verra Mobility makes up about 0.7% of Harbor Capital Advisors Inc.’s investment portfolio, making the stock its 14th largest position. Harbor Capital Advisors Inc. owned approximately 0.36% of Verra Mobility worth $16,849,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in VRRM. Allspring Global Investments Holdings LLC purchased a new stake in Verra Mobility in the first quarter worth about $26,000. Quest Partners LLC lifted its position in shares of Verra Mobility by 1,732.7% during the second quarter. Quest Partners LLC now owns 1,008 shares of the company’s stock valued at $27,000 after buying an additional 953 shares during the last quarter. Signaturefd LLC lifted its position in shares of Verra Mobility by 112.4% during 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 last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Verra Mobility during the first quarter valued at about $74,000. Finally, Montag A & Associates Inc. lifted its position in shares of Verra Mobility by 17.1% during the first quarter. Montag A & Associates Inc. now owns 3,045 shares of the company’s stock valued at $76,000 after buying an additional 445 shares during the last quarter.

Verra Mobility Trading Down 11.0 %

NASDAQ VRRM opened at $23.12 on Friday. The company has a fifty day simple moving average of $27.03 and a two-hundred day simple moving average of $27.10. The stock has a market cap of $3.81 billion, a P/E ratio of 38.53, a P/E/G ratio of 1.70 and a beta of 1.27. Verra Mobility Co. has a 12-month low of $18.76 and a 12-month high of $31.03. The company has a current ratio of 2.57, a quick ratio of 2.47 and a debt-to-equity ratio of 2.36.

Verra Mobility (NASDAQ:VRRM) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Verra Mobility had a net margin of 11.64% and a return on equity of 40.09%. The business had revenue of $222.43 million during the quarter, compared to analysts’ expectations of $220.32 million. During the same quarter last year, the company posted $0.27 earnings per share. The business’s quarterly revenue was up 8.8% on a year-over-year basis. On average, analysts forecast that Verra Mobility Co. will post 1.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VRRM has been the subject of several analyst reports. Morgan Stanley decreased their price target on shares of Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday. Robert W. Baird decreased 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. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Verra Mobility from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Friday.

Verra Mobility 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.