Verra Mobility (NASDAQ:VRRM) Shares Down 9.8% – Here’s Why

Verra Mobility Corp (NASDAQ:VRRM) shares were down 9.8% during mid-day trading on Monday . The company traded as low as $17.08 and last traded at $17.4110. Approximately 1,428,697 shares changed hands during mid-day trading, an increase of 21% from the average daily volume of 1,179,197 shares. The stock had previously closed at $19.30.

Analysts Set New Price Targets

VRRM has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Verra Mobility from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Verra Mobility in a research note on Monday, December 29th. JPMorgan Chase & Co. initiated coverage on shares of Verra Mobility in a research report on Monday, January 26th. They issued a “neutral” rating and a $25.00 price objective on the stock. Finally, UBS Group raised their price objective on shares of Verra Mobility from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $27.25.

Verra Mobility Stock Up 3.9%

The company’s 50 day moving average is $21.72 and its 200 day moving average is $23.24. The company has a market cap of $3.00 billion, a PE ratio of 58.72, a P/E/G ratio of 2.86 and a beta of 0.59. The company has a current ratio of 2.45, a quick ratio of 2.35 and a debt-to-equity ratio of 2.55.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Rothschild Investment LLC lifted its holdings in shares of Verra Mobility by 238.3% in the 3rd quarter. Rothschild Investment LLC now owns 1,167 shares of the company’s stock worth $29,000 after buying an additional 822 shares during the period. Salomon & Ludwin LLC raised its holdings in shares of Verra Mobility by 100.7% in the fourth quarter. Salomon & Ludwin LLC now owns 1,497 shares of the company’s stock valued at $34,000 after acquiring an additional 751 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Verra Mobility by 46.6% in the second quarter. Farther Finance Advisors LLC now owns 1,447 shares of the company’s stock worth $37,000 after acquiring an additional 460 shares during the period. CWM LLC grew its holdings in Verra Mobility by 112.2% during the 2nd quarter. CWM LLC now owns 1,509 shares of the company’s stock worth $38,000 after acquiring an additional 798 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Verra Mobility by 439.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the company’s stock worth $38,000 after acquiring an additional 1,217 shares in the last quarter.

About Verra Mobility

Verra Mobility, traded on the Nasdaq under the ticker VRRM, is a leading provider of smart mobility solutions designed to improve safety, efficiency and compliance for transportation authorities and commercial fleets. The company develops and operates automated traffic enforcement systems, toll and violation management platforms, and connected-vehicle services. Through its technology offerings, Verra Mobility helps public agencies enhance road safety, reduce congestion and streamline revenue collection for tolling and parking.

Verra Mobility’s core products include red-light and speed-camera enforcement programs, license plate recognition systems, and cloud-based violation processing software.