Anderson Hoagland & Co. Invests $618,000 in Verra Mobility Corp (NASDAQ:VRRM)
Anderson Hoagland & Co. acquired a new position in shares of Verra Mobility Corp (NASDAQ:VRRM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 44,230 shares of the company’s stock, valued at approximately $618,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Cortina Asset Management LLC bought a new stake in shares of Verra Mobility in the 2nd quarter worth approximately $8,142,000. FMR LLC grew its stake in Verra Mobility by 15.9% in the first quarter. FMR LLC now owns 8,587,585 shares of the company’s stock valued at $102,192,000 after purchasing an additional 1,176,434 shares during the last quarter. Adirondack Research & Management Inc. purchased a new position in Verra Mobility in the first quarter valued at about $711,000. Marshall Wace North America L.P. purchased a new position in Verra Mobility in the first quarter valued at about $90,000. Finally, Marshall Wace LLP grew its stake in Verra Mobility by 2.3% in the first quarter. Marshall Wace LLP now owns 1,299,494 shares of the company’s stock valued at $15,464,000 after purchasing an additional 29,169 shares during the last quarter. Institutional investors own 42.46% of the company’s stock.
Shares of VRRM traded up $0.04 during midday trading on Tuesday, reaching $13.83. 642,783 shares of the company were exchanged, compared to its average volume of 821,706. The company’s 50-day moving average is $13.10. The stock has a market capitalization of $2.19 billion, a P/E ratio of -20.64 and a beta of 0.40. Verra Mobility Corp has a 1-year low of $9.00 and a 1-year high of $15.07. The company has a debt-to-equity ratio of 2.82, a quick ratio of 2.44 and a current ratio of 2.44.
VRRM has been the subject of several research analyst reports. William Blair initiated coverage on Verra Mobility in a research note on Wednesday, April 24th. They set an “outperform” rating and a $13.08 target price for the company. Bank of America reduced their price target on ManpowerGroup from $100.00 to $96.00 and set a “neutral” rating on the stock in a research report on Monday. BTIG Research began coverage on Verra Mobility in a research report on Wednesday, March 27th. They issued a “buy” rating and a $15.00 price target on the stock. Zacks Investment Research raised Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Friday. Finally, ValuEngine lowered Zogenix from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $14.90.
In other news, Director Platinum Equity Llc sold 15,000,000 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $12.13, for a total transaction of $181,950,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.72% of the company’s stock.
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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