Verra Mobility Co. (NASDAQ:VRRM) Short Interest Up 226.3% in December

Verra Mobility Co. (NASDAQ:VRRM) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 5,450,000 shares, an increase of 226.3% from the November 30th total of 1,670,000 shares. Based on an average trading volume of 1,150,000 shares, the days-to-cover ratio is presently 4.7 days.

Hedge Funds Weigh In On Verra Mobility

A number of large investors have recently bought and sold shares of VRRM. Wellington Management Group LLP increased its holdings in shares of Verra Mobility by 13.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,065,795 shares of the company’s stock worth $224,310,000 after buying an additional 941,127 shares during the last quarter. JPMorgan Chase & Co. grew its position in Verra Mobility by 0.6% during the third quarter. JPMorgan Chase & Co. now owns 6,463,246 shares of the company’s stock valued at $179,743,000 after acquiring an additional 36,585 shares during the period. State Street Corp increased its stake in Verra Mobility by 6.0% during the third quarter. State Street Corp now owns 6,301,131 shares of the company’s stock worth $175,234,000 after acquiring an additional 357,078 shares during the last quarter. Handelsbanken Fonder AB increased its stake in Verra Mobility by 7.0% during the third quarter. Handelsbanken Fonder AB now owns 4,015,800 shares of the company’s stock worth $111,679,000 after acquiring an additional 261,500 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Verra Mobility by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,904,750 shares of the company’s stock valued at $108,612,000 after purchasing an additional 17,688 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VRRM. Morgan Stanley reduced their price objective on Verra Mobility from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Verra Mobility from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Robert W. Baird cut their price objective on shares of Verra Mobility from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Friday, November 1st.

Verra Mobility Price Performance

Shares of NASDAQ:VRRM opened at $24.07 on Friday. The company has a market cap of $3.97 billion, a P/E ratio of 40.12, a P/E/G ratio of 2.12 and a beta of 1.23. The business has a fifty day simple moving average of $24.13 and a 200-day simple moving average of $26.48. Verra Mobility has a 52 week low of $20.26 and a 52 week high of $31.03. The company has a quick ratio of 2.52, a current ratio of 2.61 and a debt-to-equity ratio of 2.13.

Verra Mobility (NASDAQ:VRRM) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $225.55 million during the quarter, compared to the consensus estimate of $226.65 million. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 EPS. Equities research analysts forecast that Verra Mobility will post 1.08 EPS for the current year.

About Verra Mobility

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.