Wellington Management Group LLP Sells 3,599,426 Shares of Verra Mobility Corp $VRRM

Wellington Management Group LLP lessened its position in Verra Mobility Corp (NASDAQ:VRRM) by 65.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,870,489 shares of the company’s stock after selling 3,599,426 shares during the quarter. Wellington Management Group LLP owned approximately 1.23% of Verra Mobility worth $7,950,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VRRM. Handelsbanken Fonder AB raised its holdings in Verra Mobility by 24.1% in the second quarter. Handelsbanken Fonder AB now owns 60,200 shares of the company’s stock worth $256,000 after purchasing an additional 11,700 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new stake in shares of Verra Mobility during the 2nd quarter valued at $87,000. 180 Wealth Advisors LLC grew its position in shares of Verra Mobility by 1,176.8% in the 2nd quarter. 180 Wealth Advisors LLC now owns 129,275 shares of the company’s stock worth $549,000 after buying an additional 119,150 shares during the period. GAMMA Investing LLC grew its position in shares of Verra Mobility by 34.1% in the 2nd quarter. GAMMA Investing LLC now owns 11,142 shares of the company’s stock worth $47,000 after buying an additional 2,832 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Verra Mobility by 190.4% in the 2nd quarter. Versant Capital Management Inc now owns 10,378 shares of the company’s stock worth $44,000 after acquiring an additional 6,804 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VRRM. Morgan Stanley set a $5.00 price objective on shares of Verra Mobility in a report on Thursday, August 6th. Robert W. Baird dropped their price target on Verra Mobility from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. Weiss Ratings downgraded Verra Mobility from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, June 17th. Northcoast Research reaffirmed a “neutral” rating on shares of Verra Mobility in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. upgraded Verra Mobility from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $5.00 to $6.00 in a research note on Monday, July 13th. Nine analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $7.00.

Verra Mobility Trading Down 3.9%

Shares of NASDAQ VRRM opened at $3.91 on Wednesday. The firm’s 50 day moving average price is $4.48 and its 200-day moving average price is $9.44. The company has a market cap of $594.24 million, a PE ratio of 15.04 and a beta of 0.38. Verra Mobility Corp has a 52-week low of $3.40 and a 52-week high of $25.45. The company has a debt-to-equity ratio of 4.58, a quick ratio of 1.96 and a current ratio of 2.06.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. Verra Mobility had a net margin of 4.40% and a return on equity of 64.39%. The company had revenue of $263.59 million during the quarter, compared to the consensus estimate of $254.81 million. During the same quarter last year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts expect that Verra Mobility Corp will post 1.11 EPS for the current fiscal year.

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.