Scopia Capital Management LP Has $87.78 Million Stake in Verra Mobility Co. (NASDAQ:VRRM)

Scopia Capital Management LP cut its holdings in shares of Verra Mobility Co. (NASDAQ:VRRM) by 15.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,485,446 shares of the company’s stock after selling 1,203,703 shares during the quarter. Verra Mobility comprises 10.9% of Scopia Capital Management LP’s investment portfolio, making the stock its 3rd largest holding. Scopia Capital Management LP owned approximately 4.00% of Verra Mobility worth $87,781,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fairview Capital Investment Management LLC lifted its holdings in shares of Verra Mobility by 0.6% during the first quarter. Fairview Capital Investment Management LLC now owns 8,275,800 shares of the company’s stock worth $112,012,000 after buying an additional 52,900 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Verra Mobility by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 895,034 shares of the company’s stock worth $12,012,000 after buying an additional 17,478 shares during the last quarter. Barclays PLC lifted its holdings in shares of Verra Mobility by 72.3% during the first quarter. Barclays PLC now owns 140,610 shares of the company’s stock worth $1,902,000 after buying an additional 58,991 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Verra Mobility by 149.9% during the first quarter. Renaissance Technologies LLC now owns 501,700 shares of the company’s stock worth $6,791,000 after buying an additional 300,900 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Verra Mobility by 78.5% during the first quarter. SG Americas Securities LLC now owns 24,626 shares of the company’s stock worth $333,000 after buying an additional 10,832 shares during the last quarter. Institutional investors own 92.42% of the company’s stock.

VRRM has been the subject of a number of recent research reports. Morgan Stanley upped their target price on Verra Mobility from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 6th. Credit Suisse Group upped their target price on Verra Mobility from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, May 18th. Finally, Zacks Investment Research lowered Verra Mobility from a “buy” rating to a “hold” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Verra Mobility currently has an average rating of “Buy” and a consensus price target of $16.20.

Shares of VRRM stock traded down $0.27 during trading hours on Thursday, hitting $15.06. 7,267 shares of the company’s stock were exchanged, compared to its average volume of 490,860. The company has a 50-day moving average price of $14.96. The company has a current ratio of 6.86, a quick ratio of 6.86 and a debt-to-equity ratio of 3.13. The firm has a market cap of $2.44 billion, a PE ratio of 53.39 and a beta of 1.51. Verra Mobility Co. has a 52 week low of $9.14 and a 52 week high of $15.94.

Verra Mobility (NASDAQ:VRRM) last announced its earnings results on Monday, May 17th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $89.86 million for the quarter, compared to analysts’ expectations of $92.24 million. Verra Mobility had a positive return on equity of 14.28% and a negative net margin of 5.19%. As a group, research analysts expect that Verra Mobility Co. will post 0.64 earnings per share for the current year.

Verra Mobility Profile

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, which detects and process traffic violations related to red light, speed, school bus, and city bus lanes.

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Institutional Ownership by Quarter for Verra Mobility (NASDAQ:VRRM)

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