Verra Mobility Co. (NASDAQ:VRRM) Short Interest Up 18.8% in March

Verra Mobility Co. (NASDAQ:VRRM) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 3,350,000 shares, a growth of 18.8% from the March 15th total of 2,820,000 shares. Based on an average daily volume of 1,280,000 shares, the days-to-cover ratio is currently 2.6 days. Currently, 2.1% of the company’s shares are sold short.

Verra Mobility Stock Performance

Shares of Verra Mobility stock opened at $21.31 on Monday. The business has a fifty day simple moving average of $22.59 and a two-hundred day simple moving average of $24.11. The firm has a market capitalization of $3.40 billion, a P/E ratio of 35.52, a P/E/G ratio of 2.18 and a beta of 0.91. The company has a current ratio of 2.61, a quick ratio of 2.52 and a debt-to-equity ratio of 2.13. Verra Mobility has a 12 month low of $19.51 and a 12 month high of $31.03.

Institutional Trading of Verra Mobility

Several hedge funds and other institutional investors have recently made changes to their positions in VRRM. Vanguard Group Inc. increased its holdings in shares of Verra Mobility by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 17,612,101 shares of the company’s stock valued at $425,861,000 after acquiring an additional 159,348 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Verra Mobility by 10.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,111,775 shares of the company’s stock worth $220,323,000 after purchasing an additional 837,648 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Verra Mobility by 0.6% during the third quarter. JPMorgan Chase & Co. now owns 6,463,246 shares of the company’s stock valued at $179,743,000 after buying an additional 36,585 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in Verra Mobility by 28.7% in the 4th quarter. Westwood Holdings Group Inc. now owns 4,460,793 shares of the company’s stock worth $107,862,000 after buying an additional 994,775 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Verra Mobility by 5.0% during the 4th quarter. Handelsbanken Fonder AB now owns 4,215,800 shares of the company’s stock valued at $101,938,000 after acquiring an additional 200,000 shares during the period.

Analyst Ratings Changes

Separately, Morgan Stanley cut their target price on shares of Verra Mobility from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th.

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.