Verra Mobility (NASDAQ:VRRM) Sets New 52-Week Low – Here’s What Happened

Verra Mobility Corp (NASDAQ:VRRM) reached a new 52-week low during trading on Thursday . The stock traded as low as $3.38 and last traded at $3.41, with a volume of 8082926 shares changing hands. The stock had previously closed at $3.54.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VRRM. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Verra Mobility in a research report on Monday. Robert W. Baird dropped their price objective on shares of Verra Mobility from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Northcoast Research reissued a “neutral” rating on shares of Verra Mobility in a research report on Wednesday, May 27th. William Blair downgraded Verra Mobility from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. raised shares of Verra Mobility from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $5.00 to $6.00 in a research report on Monday, July 13th. Nine investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Verra Mobility currently has an average rating of “Reduce” and an average price target of $7.00.

Verra Mobility Stock Up 2.1%

The company has a current ratio of 2.06, a quick ratio of 1.96 and a debt-to-equity ratio of 4.58. The firm has a market cap of $528.89 million, a price-to-earnings ratio of 13.39 and a beta of 0.38. The stock has a 50-day moving average of $4.38 and a 200-day moving average of $8.70.

Verra Mobility (NASDAQ:VRRM) last posted its earnings results on Wednesday, August 5th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.33 by $0.05. Verra Mobility had a net margin of 4.40% and a return on equity of 64.39%. The firm had revenue of $263.59 million during the quarter, compared to analysts’ expectations of $254.81 million. During the same quarter in the prior year, the firm earned $0.34 EPS. Verra Mobility’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts forecast that Verra Mobility Corp will post 1.11 EPS for the current fiscal year.

Institutional Trading of Verra Mobility

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Verra Mobility in the fourth quarter valued at approximately $68,608,000. River Road Asset Management LLC lifted its position in Verra Mobility by 441.6% in the fourth quarter. River Road Asset Management LLC now owns 2,984,760 shares of the company’s stock worth $66,888,000 after purchasing an additional 2,433,610 shares during the period. Bank of America Corp DE lifted its position in Verra Mobility by 34.4% in the first quarter. Bank of America Corp DE now owns 1,576,119 shares of the company’s stock worth $22,523,000 after purchasing an additional 403,638 shares during the period. Sei Investments Co. boosted its stake in Verra Mobility by 10.6% during the 1st quarter. Sei Investments Co. now owns 1,213,838 shares of the company’s stock valued at $17,346,000 after purchasing an additional 115,968 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its stake in Verra Mobility by 1.7% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,147,170 shares of the company’s stock valued at $16,393,000 after purchasing an additional 19,610 shares in the last quarter.

About Verra Mobility

Verra Mobility Corp. (NASDAQ:VRRM) is a technology company that provides smart mobility and transportation safety solutions to government agencies, commercial fleets, rental car companies and parking operators. Its platform is designed to help organizations manage vehicles, roadways, parking operations and transportation-related compliance.

Through its Government Solutions business, Verra Mobility provides automated traffic-enforcement systems and related services, including red-light, speed and school-zone enforcement, school-bus stop-arm safety programs, toll and violation processing, and other camera-based roadway safety technologies.