Via Transportation (NYSE:VIA) Releases Earnings Results, Beats Estimates By $0.04 EPS

Via Transportation (NYSE:VIA) issued its quarterly earnings data on Monday. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04, Zacks reports. The business had revenue of $143.53 million for the quarter. Via Transportation had a negative return on equity of 12.33% and a negative net margin of 20.04%.

Via Transportation Stock Performance

Shares of NYSE:VIA opened at $37.86 on Monday. Via Transportation has a fifty-two week low of $12.95 and a fifty-two week high of $52.51. The company’s 50-day moving average is $31.16 and its 200 day moving average is $21.45. The company has a market capitalization of $3.09 billion, a P/E ratio of -33.21 and a beta of 0.90.

Insider Buying and Selling

In other news, Director Nechemia Peres acquired 10,080 shares of Via Transportation stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average cost of $24.74 per share, for a total transaction of $249,379.20. Following the transaction, the director owned 40,514 shares of the company’s stock, valued at $1,002,316.36. This trade represents a 33.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 39.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Via Transportation

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP grew its position in Via Transportation by 0.3% in the 2nd quarter. Wellington Management Group LLP now owns 2,486,601 shares of the company’s stock worth $45,107,000 after purchasing an additional 6,395 shares during the period. Principal Financial Group Inc. raised its stake in Via Transportation by 39.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,086,438 shares of the company’s stock valued at $16,297,000 after buying an additional 308,283 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Via Transportation by 41.9% during the 1st quarter. Janus Henderson Group PLC now owns 854,589 shares of the company’s stock valued at $12,819,000 after buying an additional 252,381 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Via Transportation by 222.4% during the 1st quarter. Renaissance Technologies LLC now owns 329,500 shares of the company’s stock valued at $4,942,000 after buying an additional 227,300 shares during the period. Finally, Robeco Schweiz AG purchased a new position in shares of Via Transportation in the 3rd quarter worth $7,674,000. 74.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VIA. Oppenheimer boosted their target price on shares of Via Transportation from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Citigroup reaffirmed a “market outperform” rating on shares of Via Transportation in a research note on Monday, September 14th. Weiss Ratings lowered Via Transportation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $35.00 price objective on shares of Via Transportation in a research note on Wednesday, October 7th. Finally, Morgan Stanley boosted their price objective on Via Transportation from $24.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, September 21st. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.75.

About Via Transportation

Via Transportation, Inc (NYSE: VIA) is a transportation technology company that provides software and services for public transit agencies, corporations, universities, schools and other organizations. Its platform is designed to help manage on-demand and fixed-route transportation, including shared rides, paratransit, microtransit and shuttle services.

The company’s technology supports functions such as vehicle and driver management, routing, scheduling, rider booking, payments, customer communications and performance analysis.