Kornitzer Capital Management Inc. KS Cuts Stake in Verra Mobility Co. (NASDAQ:VRRM)

Kornitzer Capital Management Inc. KS cut its holdings in shares of Verra Mobility Co. (NASDAQ:VRRM) by 27.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,275 shares of the company’s stock after selling 24,182 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Verra Mobility were worth $1,815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VRRM. Allspring Global Investments Holdings LLC acquired a new stake in shares of Verra Mobility in the first quarter valued at $26,000. Quest Partners LLC increased its holdings in Verra Mobility by 1,732.7% during the 2nd quarter. Quest Partners LLC now owns 1,008 shares of the company’s stock worth $27,000 after purchasing an additional 953 shares during the period. Signaturefd LLC raised its position in Verra Mobility by 112.4% in the 3rd quarter. Signaturefd LLC now owns 1,060 shares of the company’s stock valued at $29,000 after purchasing an additional 561 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Verra Mobility in the 1st quarter valued at about $74,000. Finally, Montag A & Associates Inc. increased its stake in shares of Verra Mobility by 17.1% during the first quarter. Montag A & Associates Inc. now owns 3,045 shares of the company’s stock worth $76,000 after buying an additional 445 shares during the period.

Wall Street Analysts Forecast Growth

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

Verra Mobility Stock Up 0.8 %

VRRM stock opened at $23.44 on Friday. The company’s 50 day moving average is $26.60 and its two-hundred day moving average is $27.09. Verra Mobility Co. has a twelve month low of $18.76 and a twelve month high of $31.03. 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 stock has a market cap of $3.86 billion, a P/E ratio of 39.07, a PEG ratio of 1.49 and a beta of 1.27.

Verra Mobility (NASDAQ:VRRM) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. Verra Mobility had a net margin of 11.64% and a return on equity of 38.97%. The firm had revenue of $225.55 million during the quarter, compared to analysts’ expectations of $226.65 million. During the same period in the previous year, the company earned $0.27 earnings per share. Verra Mobility’s quarterly revenue was up 7.4% compared to the same quarter last year. Research analysts expect that Verra Mobility Co. will post 1.07 earnings per share for the current fiscal year.

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.