Verra Mobility (NASDAQ:VRRM) Stock Price Down 10.8% – Here’s What Happened

Verra Mobility Co. (NASDAQ:VRRM)’s stock price dropped 10.8% on Friday . The stock traded as low as $23.40 and last traded at $23.15. Approximately 219,799 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 1,046,220 shares. The stock had previously closed at $25.95.

Verra Mobility Stock Down 11.8 %

The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13. The business’s 50-day simple moving average is $25.44 and its 200-day simple moving average is $25.64. The company has a market capitalization of $3.77 billion, a PE ratio of 38.15, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in VRRM. First Horizon Advisors Inc. grew its position in Verra Mobility by 192.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,133 shares of the company’s stock worth $32,000 after purchasing an additional 745 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Verra Mobility by 245.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company’s stock worth $56,000 after buying an additional 1,640 shares during the last quarter. Avanza Fonder AB acquired a new stake in Verra Mobility during the fourth quarter worth about $74,000. US Bancorp DE grew its holdings in Verra Mobility by 10.3% during the third quarter. US Bancorp DE now owns 4,478 shares of the company’s stock worth $125,000 after acquiring an additional 418 shares during the period. Finally, Aster Capital Management DIFC Ltd lifted its holdings in Verra Mobility by 585.1% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company’s stock valued at $114,000 after acquiring an additional 4,031 shares during the period.

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.