Verra Mobility (NASDAQ:VRRM) Shares Gap Up to $13.84

Verra Mobility Corp (NASDAQ:VRRM)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $13.44, but opened at $13.84. Verra Mobility shares last traded at $14.28, with a volume of 2,428,015 shares.

Several research analysts recently issued reports on VRRM shares. Zacks Investment Research reissued a “hold” rating on shares of Verra Mobility in a research note on Saturday. Goldman Sachs Group started coverage on Verra Mobility in a research note on Tuesday, July 30th. They issued a “neutral” rating and a $15.00 price objective on the stock. ValuEngine cut Verra Mobility from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Bank of America raised Verra Mobility from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Monday, September 30th. Finally, Morgan Stanley started coverage on Verra Mobility in a research note on Monday. They issued an “overweight” rating and a $18.50 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Verra Mobility presently has an average rating of “Buy” and an average price target of $15.76.

The firm has a 50 day moving average of $14.23 and a 200-day moving average of $13.75. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 2.77. The company has a market cap of $2.20 billion, a P/E ratio of -21.31 and a beta of 0.40.

Verra Mobility (NASDAQ:VRRM) last posted its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The company had revenue of $109.58 million for the quarter, compared to analysts’ expectations of $103.25 million. On average, research analysts predict that Verra Mobility Corp will post 0.8 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Verra Mobility by 29.7% during the second quarter. Vanguard Group Inc. now owns 10,237,027 shares of the company’s stock worth $134,003,000 after buying an additional 2,343,058 shares during the period. BlackRock Inc. lifted its holdings in Verra Mobility by 1,110.9% during the second quarter. BlackRock Inc. now owns 6,638,730 shares of the company’s stock worth $86,900,000 after buying an additional 6,090,471 shares during the period. Bank of America Corp DE lifted its holdings in Verra Mobility by 0.6% during the second quarter. Bank of America Corp DE now owns 6,133,091 shares of the company’s stock worth $80,282,000 after buying an additional 33,751 shares during the period. Manning & Napier Group LLC lifted its holdings in Verra Mobility by 583.1% during the second quarter. Manning & Napier Group LLC now owns 2,910,170 shares of the company’s stock worth $38,092,000 after buying an additional 2,484,155 shares during the period. Finally, Crescent Park Management L.P. lifted its holdings in Verra Mobility by 18.9% during the second quarter. Crescent Park Management L.P. now owns 2,774,654 shares of the company’s stock worth $36,320,000 after buying an additional 441,253 shares during the period. Institutional investors own 57.86% of the company’s stock.

About Verra Mobility (NASDAQ:VRRM)

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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