Morgan Stanley Has Lowered Expectations for Verra Mobility (NASDAQ:VRRM) Stock Price

Verra Mobility (NASDAQ:VRRM) had its target price decreased by Morgan Stanley from $25.00 to $23.00 in a research note issued to investors on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Verra Mobility Stock Down 2.9 %

VRRM opened at $20.19 on Thursday. The business has a 50 day moving average of $24.03 and a 200-day moving average of $24.75. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 33.65, a P/E/G ratio of 2.18 and a beta of 1.30. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13. Verra Mobility has a 1-year low of $19.51 and a 1-year high of $31.03.

Institutional Trading of Verra Mobility

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its position in shares of Verra Mobility by 6.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company’s stock valued at $154,000 after buying an additional 409 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Verra Mobility by 2.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 18,308 shares of the company’s stock valued at $443,000 after acquiring an additional 448 shares in the last quarter. Tealwood Asset Management Inc. lifted its position in shares of Verra Mobility by 1.4% in the 4th quarter. Tealwood Asset Management Inc. now owns 44,230 shares of the company’s stock worth $1,069,000 after acquiring an additional 592 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Verra Mobility by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 28,645 shares of the company’s stock worth $693,000 after acquiring an additional 725 shares during the period. Finally, Integrated Wealth Concepts LLC grew its holdings in shares of Verra Mobility by 3.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 27,813 shares of the company’s stock worth $774,000 after purchasing an additional 844 shares in the last quarter.

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.