Lazard Asset Management LLC Boosts Stake in Verra Mobility Co. (NASDAQ:VRRM)

Lazard Asset Management LLC grew its stake in Verra Mobility Co. (NASDAQ:VRRM) by 244.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,309,245 shares of the company’s stock after purchasing an additional 928,597 shares during the quarter. Lazard Asset Management LLC owned approximately 0.79% of Verra Mobility worth $32,691,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new position in Verra Mobility in the 1st quarter worth about $26,000. Pacer Advisors Inc. raised its holdings in shares of Verra Mobility by 98.0% during the 4th quarter. Pacer Advisors Inc. now owns 1,905 shares of the company’s stock valued at $44,000 after purchasing an additional 943 shares in the last quarter. Montag A & Associates Inc. bought a new position in shares of Verra Mobility during the 4th quarter valued at $60,000. GAMMA Investing LLC acquired a new position in Verra Mobility in the 4th quarter valued at $65,000. Finally, Quadrant Capital Group LLC grew its stake in Verra Mobility by 99.5% in the 4th quarter. Quadrant Capital Group LLC now owns 3,081 shares of the company’s stock valued at $71,000 after buying an additional 1,537 shares during the last quarter.

Verra Mobility Price Performance

Shares of NASDAQ:VRRM traded up $0.39 during midday trading on Friday, reaching $30.39. 838,256 shares of the company’s stock were exchanged, compared to its average volume of 1,255,944. The company’s 50 day simple moving average is $27.61 and its two-hundred day simple moving average is $25.08. The firm has a market capitalization of $5.06 billion, a PE ratio of 60.78, a price-to-earnings-growth ratio of 2.05 and a beta of 1.27. Verra Mobility Co. has a 12 month low of $17.04 and a 12 month high of $31.03. The company has a debt-to-equity ratio of 2.31, a quick ratio of 2.64 and a current ratio of 2.75.

Verra Mobility (NASDAQ:VRRM) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $209.73 million during the quarter, compared to analysts’ expectations of $202.78 million. Verra Mobility had a net margin of 9.77% and a return on equity of 37.87%. Equities research analysts expect that Verra Mobility Co. will post 1.09 earnings per share for the current fiscal year.

Insider Activity at Verra Mobility

In other Verra Mobility news, EVP Jonathan Baldwin sold 9,758 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $26.14, for a total transaction of $255,074.12. Following the sale, the executive vice president now directly owns 7,673 shares in the company, valued at $200,572.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Jonathan Baldwin sold 9,758 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $26.14, for a total value of $255,074.12. Following the completion of the transaction, the executive vice president now owns 7,673 shares of the company’s stock, valued at $200,572.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael P. Huerta sold 8,690 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $26.50, for a total transaction of $230,285.00. Following the completion of the transaction, the director now directly owns 18,025 shares of the company’s stock, valued at approximately $477,662.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,993 shares of company stock worth $736,974. Corporate insiders own 0.96% of the company’s stock.

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.