Short Interest in Verra Mobility Co. (NASDAQ:VRRM) Drops By 14.1%

Verra Mobility Co. (NASDAQ:VRRM) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 4,680,000 shares, a drop of 14.1% from the December 15th total of 5,450,000 shares. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is presently 4.0 days.

Verra Mobility Stock Performance

NASDAQ:VRRM opened at $25.23 on Friday. 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 has a 50-day moving average price of $23.88 and a two-hundred day moving average price of $26.26. Verra Mobility has a twelve month low of $20.26 and a twelve month high of $31.03. The company has a market capitalization of $4.16 billion, a P/E ratio of 42.05, a price-to-earnings-growth ratio of 2.05 and a beta of 1.23.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The company had revenue of $225.55 million for the quarter, compared to analysts’ expectations of $226.65 million. During the same period last year, the company earned $0.27 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, research analysts expect that Verra Mobility will post 1.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VRRM has been the subject of a number of research analyst reports. 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 report on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut their price target on shares of Verra Mobility from $31.00 to $29.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Morgan Stanley dropped their target price on shares of Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th.

Institutional Investors Weigh In On Verra Mobility

Several hedge funds have recently modified their holdings of VRRM. Fiera Capital Corp acquired a new stake in shares of Verra Mobility during the 3rd quarter worth about $33,905,000. Wellington Management Group LLP boosted its stake in shares of Verra Mobility by 13.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,065,795 shares of the company’s stock worth $224,310,000 after purchasing an additional 941,127 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Verra Mobility by 62.9% during the 3rd quarter. New York State Common Retirement Fund now owns 1,152,330 shares of the company’s stock worth $32,046,000 after purchasing an additional 444,911 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Verra Mobility by 149.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 605,851 shares of the company’s stock worth $16,849,000 after purchasing an additional 363,357 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Verra Mobility by 6.0% during the 3rd quarter. State Street Corp now owns 6,301,131 shares of the company’s stock worth $175,234,000 after purchasing an additional 357,078 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.