Verra Mobility Co. (NASDAQ:VRRM) Sees Significant Increase in Short Interest

Verra Mobility Co. (NASDAQ:VRRM) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 2,820,000 shares, a growth of 77.4% from the February 28th total of 1,590,000 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average daily volume of 1,180,000 shares, the short-interest ratio is currently 2.4 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VRRM. Natixis Advisors LLC grew its holdings in Verra Mobility by 61.9% during the 3rd quarter. Natixis Advisors LLC now owns 19,059 shares of the company’s stock worth $530,000 after acquiring an additional 7,285 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Verra Mobility during the third quarter worth $924,000. Charles Schwab Investment Management Inc. grew its stake in shares of Verra Mobility by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,661 shares of the company’s stock worth $47,824,000 after purchasing an additional 37,131 shares during the last quarter. Citigroup Inc. increased its holdings in Verra Mobility by 73.0% in the third quarter. Citigroup Inc. now owns 222,910 shares of the company’s stock valued at $6,199,000 after purchasing an additional 94,073 shares during the period. Finally, Quantbot Technologies LP bought a new position in Verra Mobility during the 3rd quarter worth $1,719,000.

Wall Street Analyst Weigh In

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

Verra Mobility Price Performance

Verra Mobility stock opened at $20.19 on Monday. The stock has a 50-day moving average price of $24.03 and a two-hundred day moving average price of $24.74. Verra Mobility has a 12 month low of $19.51 and a 12 month high of $31.03. The company has a market capitalization of $3.22 billion, a PE ratio of 33.65, a P/E/G 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.

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.