Verra Mobility (NASDAQ:VRRM) Trading Down 10.8% – Time to Sell?

Verra Mobility Co. (NASDAQ:VRRM)’s share price traded down 10.8% on Friday . The stock traded as low as $23.40 and last traded at $23.15. 219,799 shares were traded during mid-day trading, a decline of 79% from the average session volume of 1,046,220 shares. The stock had previously closed at $25.95.

Analysts Set New Price Targets

Several research firms have issued reports on VRRM. Robert W. Baird reduced their price objective on Verra Mobility from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft dropped their target price on Verra Mobility from $31.00 to $29.00 and set a “buy” rating for the company in a report on Friday, November 1st.

Verra Mobility Stock Performance

The business’s fifty day simple moving average is $25.46 and its 200-day simple moving average is $25.67. The firm has a market cap of $3.77 billion, a P/E ratio of 38.15, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13.

Hedge Funds Weigh In On Verra Mobility

A number of hedge funds and other institutional investors have recently made changes to their positions in VRRM. Armis Advisers LLC bought a new position in Verra Mobility in the 4th quarter worth $307,000. Public Employees Retirement System of Ohio lifted its holdings in Verra Mobility by 14.2% in the fourth 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Verra Mobility by 25.6% during the 4th 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 in the last quarter. Sovereign s Capital Management LLC purchased a new position in shares of Verra Mobility during the 4th quarter worth approximately $1,186,000. Finally, Westwood Holdings Group Inc. raised its position in shares of Verra Mobility by 28.7% in the 4th 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 in the last quarter.

Verra Mobility Company Profile

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.