Verra Mobility (NASDAQ:VRRM) Stock Price Up 12.6% – Still a Buy?

Verra Mobility Co. (NASDAQ:VRRM)’s stock price traded up 12.6% on Monday . The company traded as high as $22.83 and last traded at $22.74. 2,146,305 shares were traded during mid-day trading, an increase of 93% from the average session volume of 1,114,054 shares. The stock had previously closed at $20.19.

Wall Street Analyst Weigh In

Separately, Morgan Stanley lowered their price target on shares of Verra Mobility from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Thursday.

Verra Mobility Stock Performance

The business’s 50 day simple moving average is $24.03 and its two-hundred day simple moving average is $24.74. The firm has a market capitalization of $3.59 billion, a P/E ratio of 37.52, a price-to-earnings-growth ratio of 2.18 and a beta of 1.30. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13.

Hedge Funds Weigh In On Verra Mobility

A number of hedge funds have recently added to or reduced their stakes in VRRM. Smartleaf Asset Management LLC raised its position in Verra Mobility by 245.1% in the 4th 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 purchased a new stake in Verra Mobility in the fourth quarter worth approximately $74,000. Aster Capital Management DIFC Ltd raised its stake in Verra Mobility by 585.1% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company’s stock valued at $114,000 after buying an additional 4,031 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Verra Mobility during the 4th quarter valued at $129,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Verra Mobility by 6.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company’s stock worth $154,000 after acquiring an additional 409 shares during the period.

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.