Verra Mobility Co. (NASDAQ:VRRM) Short Interest Up 77.4% in March

Verra Mobility Co. (NASDAQ:VRRM) saw a significant increase in short interest during the month of 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. Currently, 1.8% of the shares of the company are sold short. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is presently 2.4 days.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. American Century Companies Inc. raised its holdings 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 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 in the fourth quarter valued at $46,156,000. Sunriver Management LLC bought a new position in Verra Mobility in the fourth quarter worth $33,503,000. Westwood Holdings Group Inc. boosted its stake in Verra Mobility by 28.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 4,460,793 shares of the company’s stock worth $107,862,000 after buying an additional 994,775 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Verra Mobility by 13.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,065,795 shares of the company’s stock valued at $224,310,000 after buying an additional 941,127 shares during the period.

Verra Mobility Price Performance

NASDAQ:VRRM opened at $20.19 on Friday. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.61 and a quick ratio of 2.52. The stock has a market cap of $3.22 billion, a P/E ratio of 33.65, a PEG ratio of 2.18 and a beta of 1.30. The company has a fifty day moving average price of $24.03 and a 200 day moving average price of $24.77. Verra Mobility has a one year low of $19.51 and a one year high of $31.03.

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.