Verra Mobility (NASDAQ:VRRM) Stock Price Up 12.6% – Here’s What Happened

Verra Mobility Co. (NASDAQ:VRRM) shares rose 12.6% on Monday . The company traded as high as $22.83 and last traded at $22.74. Approximately 2,146,305 shares were traded 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 Upgrades and Downgrades

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

Verra Mobility Stock Performance

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

Institutional Investors Weigh In On Verra Mobility

Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its position in Verra Mobility by 6.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company’s stock valued at $154,000 after purchasing an additional 409 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Verra Mobility by 2.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 18,308 shares of the company’s stock worth $443,000 after acquiring an additional 448 shares during the last quarter. Tealwood Asset Management Inc. lifted its position in Verra Mobility by 1.4% in the 4th quarter. Tealwood Asset Management Inc. now owns 44,230 shares of the company’s stock valued at $1,069,000 after acquiring an additional 592 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Verra Mobility by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 28,645 shares of the company’s stock valued at $693,000 after purchasing an additional 725 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its holdings in shares of Verra Mobility by 3.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 27,813 shares of the company’s stock worth $774,000 after purchasing an additional 844 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.