Verra Mobility (NASDAQ:VRRM) Rating Increased to Hold at Zacks Investment Research

Verra Mobility (NASDAQ:VRRM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Verra Mobility Corporation designs and develops mobility software. The Company offers speed, bus lane, railroad crossing, and school bus top arm enforcement and enforcement ticketing, as well as crash reports and video-enabled crime data analysis solutions. Verra Mobility Corporation, formerly known as Gores Holdings II Inc., is based in CA, United States. “

Several other research analysts have also recently issued reports on VRRM. ValuEngine cut shares of Verra Mobility from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Bank of America upgraded shares of Verra Mobility from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Monday, September 30th. Finally, Morgan Stanley started coverage on shares of Verra Mobility in a research report on Monday, October 28th. They set an “overweight” rating and a $18.50 price target for the company. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $15.76.

Shares of VRRM traded down $0.04 during trading hours on Tuesday, hitting $14.74. The company had a trading volume of 151,275 shares, compared to its average volume of 1,757,987. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -21.99 and a beta of 0.41. The firm has a fifty day moving average price of $14.54 and a 200-day moving average price of $13.95. Verra Mobility has a 52-week low of $9.00 and a 52-week high of $15.35. The company has a debt-to-equity ratio of 2.62, a quick ratio of 3.19 and a current ratio of 3.19.

In related news, Director Platinum Equity Llc sold 17,250,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $14.10, for a total transaction of $243,225,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.72% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its stake in shares of Verra Mobility by 317.8% in the third quarter. Tower Research Capital LLC TRC now owns 1,905 shares of the company’s stock worth $27,000 after acquiring an additional 1,449 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Verra Mobility by 48.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,840 shares of the company’s stock worth $98,000 after purchasing an additional 2,239 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of Verra Mobility by 10.3% in the third quarter. Voya Investment Management LLC now owns 40,896 shares of the company’s stock worth $587,000 after purchasing an additional 3,833 shares during the last quarter. US Bancorp DE bought a new stake in shares of Verra Mobility in the second quarter worth about $69,000. Finally, United Services Automobile Association lifted its position in shares of Verra Mobility by 51.1% in the second quarter. United Services Automobile Association now owns 17,357 shares of the company’s stock worth $227,000 after buying an additional 5,868 shares in the last quarter. Institutional investors own 69.01% of the company’s stock.

Verra Mobility Company Profile

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Canada, and Europe. It operates through two segments, Government Solutions and Commercial Services. The Government Solutions segment offers automated safety solutions, including services and technologies that enable photo enforcement through road safety camera programs related to red light, speed, school bus, and city bus lanes.

See Also: Systematic Risk and Investors

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Analyst Recommendations for Verra Mobility (NASDAQ:VRRM)

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