Ameriprise Financial Inc. Sells 384,414 Shares of Verra Mobility Co. (NASDAQ:VRRM)

Ameriprise Financial Inc. lessened its holdings in shares of Verra Mobility Co. (NASDAQ:VRRM) by 24.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,186,122 shares of the company’s stock after selling 384,414 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.72% of Verra Mobility worth $28,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its position in Verra Mobility by 245.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company’s stock valued at $56,000 after purchasing an additional 1,640 shares in the last quarter. Avanza Fonder AB purchased a new position in shares of Verra Mobility during the 4th quarter valued at about $74,000. Aster Capital Management DIFC Ltd lifted its position in shares of Verra Mobility by 585.1% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company’s stock valued at $114,000 after buying an additional 4,031 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Verra Mobility during the 4th quarter valued at approximately $129,000. Finally, PNC Financial Services Group Inc. increased its holdings in Verra Mobility by 6.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company’s stock worth $154,000 after acquiring an additional 409 shares in the last quarter.

Verra Mobility Stock Performance

Shares of NASDAQ VRRM opened at $23.55 on Wednesday. The company has a market cap of $3.76 billion, a P/E ratio of 39.25, a P/E/G ratio of 2.18 and a beta of 0.80. Verra Mobility Co. has a 52-week low of $19.51 and a 52-week high of $31.03. The company has a debt-to-equity ratio of 2.13, a quick ratio of 2.52 and a current ratio of 2.61. The firm’s fifty day moving average is $21.74 and its two-hundred day moving average is $23.60.

Verra Mobility (NASDAQ:VRRM) last issued its earnings results on Wednesday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. Verra Mobility had a return on equity of 38.97% and a net margin of 11.64%. The firm had revenue of $223.25 million for the quarter, compared to analysts’ expectations of $216.94 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. As a group, analysts anticipate that Verra Mobility Co. will post 1.08 EPS for the current fiscal year.

Insider Activity at Verra Mobility

In other Verra Mobility news, insider Jonathan Keyser sold 18,719 shares of Verra Mobility stock in a transaction on Friday, May 9th. The shares were sold at an average price of $24.28, for a total value of $454,497.32. Following the completion of the transaction, the insider now directly owns 1,179 shares of the company’s stock, valued at $28,626.12. This trade represents a 94.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.05% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. UBS Group dropped their price target on shares of Verra Mobility from $31.50 to $29.50 and set a “buy” rating for the company in a research report on Thursday, May 8th. Morgan Stanley cut their price target on Verra Mobility from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Baird R W upgraded Verra Mobility from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 22nd. Finally, Robert W. Baird increased their target price on Verra Mobility from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $27.38.

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.