Verra Mobility (NASDAQ:VRRM) Trading 12.6% Higher – Here’s Why

Verra Mobility Co. (NASDAQ:VRRM)’s stock price rose 12.6% during trading on Monday . The company traded as high as $22.83 and last traded at $22.74. Approximately 2,146,305 shares changed hands during mid-day trading, an increase of 93% from the average daily volume of 1,114,054 shares. The stock had previously closed at $20.19.

Analyst Ratings Changes

Separately, Morgan Stanley decreased their target price on shares of Verra Mobility from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th.

Verra Mobility Stock Performance

The company has a debt-to-equity ratio of 2.13, a quick ratio of 2.52 and a current ratio of 2.61. The stock has a market cap of $3.72 billion, a P/E ratio of 38.85, a P/E/G ratio of 2.18 and a beta of 1.30. The business’s 50-day moving average price is $23.91 and its 200-day moving average price is $24.68.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Armis Advisers LLC bought a new stake in Verra Mobility during the 4th quarter worth approximately $307,000. Public Employees Retirement System of Ohio increased its stake in Verra Mobility by 14.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 262,479 shares of the company’s stock worth $6,347,000 after buying an additional 32,627 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Verra Mobility by 25.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,064,618 shares of the company’s stock valued at $49,922,000 after acquiring an additional 421,377 shares during the period. Sovereign s Capital Management LLC purchased a new position in shares of Verra Mobility in the fourth quarter valued at about $1,186,000. Finally, Westwood Holdings Group Inc. boosted its stake in shares of Verra Mobility by 28.7% in the fourth quarter. Westwood Holdings Group Inc. now owns 4,460,793 shares of the company’s stock worth $107,862,000 after acquiring an additional 994,775 shares during the period.

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.