Credit Suisse Group began coverage on shares of Verra Mobility (NASDAQ:VRRM) in a report released on Thursday, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $17.50 price target on the stock.
VRRM has been the subject of several other research reports. Zacks Investment Research raised Verra Mobility from a sell rating to a hold rating in a research note on Saturday, January 11th. ValuEngine downgraded Verra Mobility from a hold rating to a sell rating in a research note on Friday, January 3rd. Morgan Stanley initiated coverage on Verra Mobility in a research note on Monday, October 28th. They issued an overweight rating and a $18.50 price objective for the company. Finally, Bank of America raised Verra Mobility from a neutral rating to a buy rating and set a $16.00 price objective for the company in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $16.01.
Shares of Verra Mobility stock traded up $0.41 on Thursday, hitting $16.38. The stock had a trading volume of 2,057,975 shares, compared to its average volume of 1,399,555. The stock has a 50 day moving average of $14.42 and a 200 day moving average of $14.22. Verra Mobility has a twelve month low of $10.01 and a twelve month high of $16.40. The company has a debt-to-equity ratio of 2.62, a quick ratio of 3.19 and a current ratio of 3.19. The firm has a market capitalization of $2.46 billion, a P/E ratio of -24.45 and a beta of 0.37.
In other news, General Counsel Rebecca Collins sold 5,969 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $15.01, for a total transaction of $89,594.69. Following the completion of the sale, the general counsel now owns 17,250 shares of the company’s stock, valued at approximately $258,922.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Platinum Equity Llc sold 17,250,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $14.10, for a total transaction of $243,225,000.00. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Sciencast Management LP acquired a new stake in shares of Verra Mobility during the 4th quarter worth approximately $309,000. Metropolitan Life Insurance Co NY acquired a new stake in shares of Verra Mobility during the 3rd quarter worth approximately $507,000. Millennium Management LLC acquired a new stake in shares of Verra Mobility during the 3rd quarter worth approximately $2,161,000. Man Group plc acquired a new stake in shares of Verra Mobility during the 3rd quarter worth approximately $1,208,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Verra Mobility during the 3rd quarter worth approximately $208,000. 68.29% of the stock is owned by institutional investors.
About Verra Mobility
Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Canada, and Europe. It operates through two segments, Government Solutions and Commercial Services. The Government Solutions segment offers automated safety solutions, including services and technologies that enable photo enforcement through road safety camera programs related to red light, speed, school bus, and city bus lanes.
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