Verra Mobility Co. (NASDAQ:VRRM) Short Interest Up 77.4% in March

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

Wall Street Analysts Forecast Growth

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

Verra Mobility Trading Down 2.9 %

Shares of VRRM stock opened at $20.19 on Friday. The company has a market capitalization of $3.22 billion, a P/E ratio of 33.65, a P/E/G ratio of 2.18 and a beta of 1.30. Verra Mobility has a 12-month low of $19.51 and a 12-month high of $31.03. The company has a quick ratio of 2.52, a current ratio of 2.61 and a debt-to-equity ratio of 2.13. The firm has a 50-day moving average price of $24.03 and a 200 day moving average price of $24.77.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in Verra Mobility by 245.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,309 shares of the company’s stock worth $56,000 after acquiring an additional 1,640 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of Verra Mobility during the fourth quarter worth $74,000. Aster Capital Management DIFC Ltd increased its stake in shares of Verra Mobility by 585.1% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 4,720 shares of the company’s stock valued at $114,000 after buying an additional 4,031 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Verra Mobility in the fourth quarter valued at about $129,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Verra Mobility by 6.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,381 shares of the company’s stock worth $154,000 after purchasing an additional 409 shares in the last quarter.

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.