Cornerstone Investment Partners LLC Takes Position in Verra Mobility Co. (NASDAQ:VRRM)

Cornerstone Investment Partners LLC purchased a new stake in shares of Verra Mobility Co. (NASDAQ:VRRM) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 11,143 shares of the company’s stock, valued at approximately $257,000.

Other institutional investors have also recently made changes to their positions in the company. Carmel Capital Partners LLC purchased a new stake in Verra Mobility in the third quarter worth approximately $27,000. Amundi purchased a new stake in Verra Mobility in the fourth quarter worth approximately $43,000. Pacer Advisors Inc. boosted its holdings in Verra Mobility by 98.0% in the fourth quarter. Pacer Advisors Inc. now owns 1,905 shares of the company’s stock worth $44,000 after purchasing an additional 943 shares during the last quarter. Ronald Blue Trust Inc. boosted its holdings in Verra Mobility by 25.2% in the third quarter. Ronald Blue Trust Inc. now owns 2,913 shares of the company’s stock worth $57,000 after purchasing an additional 587 shares during the last quarter. Finally, Assetmark Inc. purchased a new stake in Verra Mobility in the third quarter worth approximately $58,000.

Insider Buying and Selling

In related news, Director John H. Rexford sold 10,000 shares of Verra Mobility stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $22.82, for a total transaction of $228,200.00. Following the completion of the transaction, the director now directly owns 41,275 shares of the company’s stock, valued at approximately $941,895.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director John H. Rexford sold 10,000 shares of Verra Mobility stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $22.82, for a total transaction of $228,200.00. Following the completion of the sale, the director now owns 41,275 shares in the company, valued at approximately $941,895.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan Keyser sold 7,789 shares of Verra Mobility stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $22.41, for a total transaction of $174,551.49. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Morgan Stanley raised their target price on shares of Verra Mobility from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 27th.

Verra Mobility Stock Performance

VRRM traded down $0.02 during trading on Friday, hitting $23.42. The company’s stock had a trading volume of 174,395 shares, compared to its average volume of 1,054,353. The company has a quick ratio of 1.96, a current ratio of 2.05 and a debt-to-equity ratio of 2.44. Verra Mobility Co. has a one year low of $16.22 and a one year high of $25.57. The firm has a market cap of $3.89 billion, a PE ratio of 65.11, a P/E/G ratio of 1.78 and a beta of 1.17. The business’s 50 day simple moving average is $23.38 and its 200-day simple moving average is $21.92.

Verra Mobility (NASDAQ:VRRM) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.02). Verra Mobility had a return on equity of 41.86% and a net margin of 6.98%. The business had revenue of $211.01 million during the quarter, compared to the consensus estimate of $201.76 million. As a group, sell-side analysts predict that Verra Mobility Co. will post 1.07 EPS for the current fiscal year.

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.