Connor Clark & Lunn Investment Management Ltd. Decreases Stock Holdings in Verra Mobility Co. (NASDAQ:VRRM)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Verra Mobility Co. (NASDAQ:VRRM) by 75.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,322 shares of the company’s stock after selling 124,307 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Verra Mobility were worth $1,149,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in VRRM. Dimensional Fund Advisors LP raised its stake in Verra Mobility by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,180,519 shares of the company’s stock valued at $86,512,000 after buying an additional 193,686 shares during the last quarter. Swedbank AB acquired a new position in shares of Verra Mobility in the first quarter valued at about $26,218,000. SG Americas Securities LLC increased its holdings in shares of Verra Mobility by 459.0% in the second quarter. SG Americas Securities LLC now owns 27,139 shares of the company’s stock valued at $738,000 after purchasing an additional 22,284 shares during the period. Braun Stacey Associates Inc. increased its holdings in shares of Verra Mobility by 148.0% in the third quarter. Braun Stacey Associates Inc. now owns 439,904 shares of the company’s stock valued at $12,234,000 after purchasing an additional 262,509 shares during the period. Finally, Bradley Foster & Sargent Inc. CT increased its holdings in shares of Verra Mobility by 28.9% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 58,918 shares of the company’s stock valued at $1,603,000 after purchasing an additional 13,201 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VRRM. Deutsche Bank Aktiengesellschaft cut their price objective on Verra Mobility from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Morgan Stanley cut their price objective on Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. Finally, Robert W. Baird dropped their target price on Verra Mobility from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Friday, November 1st.

Verra Mobility Stock Performance

NASDAQ VRRM opened at $23.57 on Thursday. The company has a market cap of $3.88 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 2.14 and a beta of 1.27. The stock’s 50 day simple moving average is $25.74 and its 200-day simple moving average is $26.96. Verra Mobility Co. has a 1-year low of $19.67 and a 1-year high of $31.03. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.61 and a quick ratio of 2.52.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Verra Mobility had a return on equity of 38.97% and a net margin of 11.64%. The firm had revenue of $225.55 million for the quarter, compared to the consensus estimate of $226.65 million. During the same quarter last year, the business posted $0.27 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Verra Mobility Co. will post 1.08 EPS for the current fiscal year.

Verra Mobility 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.