Via Transportation (NYSE:VIA) Shares Gap Up After Insider Buying Activity

Via Transportation Inc. (NYSE:VIA)’s share price gapped up prior to trading on Friday following insider buying activity. The stock had previously closed at $14.76, but opened at $15.40. Via Transportation shares last traded at $15.8150, with a volume of 145,970 shares changing hands.

Specifically, Director Nechemia Jacob Peres purchased 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $14.70 per share, with a total value of $367,500.00. Following the acquisition, the director directly owned 30,434 shares of the company’s stock, valued at approximately $447,379.80. This trade represents a 460.07% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VIA. Needham & Company LLC reissued a “buy” rating and set a $55.00 price target on shares of Via Transportation in a report on Monday, March 2nd. Raymond James Financial set a $19.00 price target on shares of Via Transportation in a report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft set a $25.00 price target on shares of Via Transportation in a report on Wednesday, May 13th. Morgan Stanley reissued an “overweight” rating and set a $24.00 price target on shares of Via Transportation in a report on Tuesday, May 12th. Finally, Weiss Ratings raised shares of Via Transportation from a “sell (e+)” rating to a “sell (d)” rating in a report on Wednesday, May 13th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.10.

Key Headlines Impacting Via Transportation

Here are the key news stories impacting Via Transportation this week:

• Neutral Sentiment: Director Nechemia Jacob Peres bought 25,000 shares at $14.70, boosting his stake materially. Insider buying can signal confidence, but it has not offset the negative legal overhang. Article Title
• Negative Sentiment: Berger Montague PC announced a class action investigation on behalf of Via investors, adding to the growing list of lawsuits and reinforcing concerns about potential liability and further downside for VIA. Article Title

Via Transportation Price Performance

The company has a market capitalization of $1.27 billion and a P/E ratio of -16.77. The stock’s 50 day simple moving average is $15.59 and its two-hundred day simple moving average is $20.89.

Hedge Funds Weigh In On Via Transportation

A number of institutional investors have recently modified their holdings of VIA. Assetmark Inc. bought a new position in shares of Via Transportation in the third quarter worth about $36,000. TimesSquare Capital Management LLC bought a new position in shares of Via Transportation in the third quarter worth about $716,000. PNC Financial Services Group Inc. bought a new position in shares of Via Transportation in the third quarter worth about $60,000. Vanguard Group Inc. bought a new position in shares of Via Transportation in the third quarter worth about $39,965,000. Finally, Readystate Asset Management LP bought a new position in shares of Via Transportation in the third quarter worth about $481,000. 74.40% of the stock is owned by institutional investors.

Via Transportation Company Profile

Via transforms antiquated and siloed public transportation systems into smart, data-driven, and efficient digital networks. We are addressing a striking gap in the $545 billion global public transportation market. While billions of people across the globe rely on public transportation, this critical form of mobility has yet to meaningfully benefit from recent advances in technology. Buses still follow fixed routes and schedules planned years, if not decades ago, regardless of actual demand for their service.