381,251 Shares in Verra Mobility Co. (NASDAQ:VRRM) Bought by Summit Creek Advisors LLC

Summit Creek Advisors LLC purchased a new stake in Verra Mobility Co. (NASDAQ:VRRM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 381,251 shares of the company’s stock, valued at approximately $10,370,000. Summit Creek Advisors LLC owned 0.23% of Verra Mobility at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of VRRM. Allspring Global Investments Holdings LLC bought a new stake in shares of Verra Mobility in the first quarter valued at about $26,000. Montag A & Associates Inc. acquired a new position in Verra Mobility in the 4th quarter valued at approximately $60,000. Picton Mahoney Asset Management bought a new stake in shares of Verra Mobility in the 1st quarter worth approximately $74,000. Quadrant Capital Group LLC grew its holdings in shares of Verra Mobility by 99.5% during the 4th quarter. Quadrant Capital Group LLC now owns 3,081 shares of the company’s stock worth $71,000 after purchasing an additional 1,537 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Verra Mobility by 713.5% during the second quarter. Fifth Third Bancorp now owns 3,124 shares of the company’s stock valued at $85,000 after purchasing an additional 2,740 shares during the period.

Analyst Ratings Changes

Several brokerages recently commented on VRRM. Deutsche Bank Aktiengesellschaft raised their target price on Verra Mobility from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Morgan Stanley increased their price objective on shares of Verra Mobility from $22.00 to $27.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 6th.

Verra Mobility Trading Down 0.6 %

VRRM stock opened at $26.79 on Friday. Verra Mobility Co. has a 1-year low of $17.42 and a 1-year high of $31.03. The company has a current ratio of 2.57, a quick ratio of 2.47 and a debt-to-equity ratio of 2.36. The business’s 50 day moving average is $28.32 and its 200-day moving average is $26.11. The firm has a market cap of $4.46 billion, a P/E ratio of 53.58, a P/E/G ratio of 1.81 and a beta of 1.27.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. Verra Mobility had a return on equity of 39.89% and a net margin of 11.34%. The business had revenue of $222.43 million for the quarter, compared to analyst estimates of $220.32 million. During the same quarter in the previous year, the firm earned $0.27 EPS. Verra Mobility’s quarterly revenue was up 8.8% on a year-over-year basis. Equities analysts anticipate that Verra Mobility Co. will post 1.07 earnings per share for the current fiscal year.

Insider Activity

In related 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 completion of the sale, the executive vice president now owns 7,673 shares in the company, valued at approximately $200,572.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Jonathan Baldwin sold 9,758 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was 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 approximately $200,572.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John H. Rexford sold 9,005 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $26.37, for a total value of $237,461.85. Following the sale, the director now directly owns 41,275 shares of the company’s stock, valued at $1,088,421.75. The disclosure for this sale can be found here. 0.96% of the stock is owned by corporate insiders.

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.