Kornitzer Capital Management Inc. KS Trims Holdings in Verra Mobility Corp $VRRM

Kornitzer Capital Management Inc. KS lessened its stake in Verra Mobility Corp (NASDAQ:VRRM) by 9.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,550 shares of the company’s stock after selling 5,100 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Verra Mobility were worth $1,182,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D boosted its stake in Verra Mobility by 5.9% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 79,269 shares of the company’s stock valued at $2,013,000 after acquiring an additional 4,404 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Verra Mobility by 15.8% during the second quarter. William Blair Investment Management LLC now owns 2,582,884 shares of the company’s stock worth $65,579,000 after purchasing an additional 352,942 shares during the last quarter. Allianz Asset Management GmbH bought a new position in shares of Verra Mobility during the second quarter worth about $538,000. New York State Teachers Retirement System grew its stake in Verra Mobility by 6.6% in the second quarter. New York State Teachers Retirement System now owns 65,874 shares of the company’s stock worth $1,673,000 after purchasing an additional 4,051 shares in the last quarter. Finally, Equitable Trust Co. increased its holdings in Verra Mobility by 52.0% in the second quarter. Equitable Trust Co. now owns 53,150 shares of the company’s stock valued at $1,349,000 after buying an additional 18,182 shares during the last quarter.

Verra Mobility Stock Down 2.9%

NASDAQ:VRRM opened at $23.95 on Monday. The company has a current ratio of 2.28, a quick ratio of 2.21 and a debt-to-equity ratio of 2.93. The stock has a 50 day moving average of $24.47 and a 200-day moving average of $24.10. The firm has a market capitalization of $3.82 billion, a PE ratio of 99.80, a price-to-earnings-growth ratio of 2.80 and a beta of 0.77. Verra Mobility Corp has a 52 week low of $19.51 and a 52 week high of $27.20.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Verra Mobility had a return on equity of 55.14% and a net margin of 4.30%.The business had revenue of $236.03 million during the quarter, compared to analyst estimates of $232.78 million. During the same quarter in the previous year, the firm posted $0.31 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts predict that Verra Mobility Corp will post 1.08 EPS for the current year.

Analyst Upgrades and Downgrades

VRRM has been the topic of a number of research analyst reports. Robert W. Baird increased their target price on Verra Mobility from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of Verra Mobility in a research report on Friday. Finally, Wall Street Zen downgraded shares of Verra Mobility from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.88.

About Verra Mobility

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.