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Verra Mobility Corporation (NASDAQ:VRRM) Is 32.02% Above Its 52-Week Low, But How Long Will It Remain So?

In last trading session, Verra Mobility Corporation (NASDAQ:VRRM) saw 9.07 million shares changing hands with its beta currently measuring 1.23. Company’s recent per share price level of $18.77 trading at $0.07 or 0.37% at ring of the bell on the day assigns it a market valuation of $3.18B. That closing price of VRRM’s stock is at a discount of -14.76% from its 52-week high price of $21.54 and is indicating a premium of 32.02% from its 52-week low price of $12.76. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.03 million shares which gives us an average trading volume of 1.37 million if we extend that period to 3-months.

Verra Mobility Corporation (NASDAQ:VRRM) trade information

Upright in the green during last session for gaining 0.37%, in the last five days VRRM remained trading in the green while hitting it’s week-highest on Friday, 09/15/23 when the stock touched $18.77 price level, adding 1.42% to its value on the day. Verra Mobility Corporation’s shares saw a change of 35.72% in year-to-date performance and have moved 6.29% in past 5-day. Verra Mobility Corporation (NASDAQ:VRRM) showed a performance of -2.54% in past 30-days. Number of shares sold short was 3.86 million shares which calculate 2.29 days to cover the short interests.

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Wall Street analysts have assigned a consensus price target of $23.33 to the stock, which implies a rise of 19.55% to its current value. Analysts have been projecting $18.00 as a low price target for the stock while placing it at a high target of $26.00. It follows that stock’s current price would drop -38.52% in reaching the projected high whereas dropping to the targeted low would mean a gain of 4.1% for stock’s current value.

Verra Mobility Corporation (VRRM) estimates and forecasts

Statistics highlight that Verra Mobility Corporation is scoring comparatively lower than the scores of other players of the relevant industry. The company added 8.81% of value to its shares in past 6 months, showing an annual growth rate of 4.90% while that of industry is 13.10. Apart from that, the company came raising its revenue forecast for fiscal year 2023. This year revenue growth is estimated to rise 8.70% from the last financial year’s standing.

6 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $208.97 million for the same. And 6 analysts are in estimates of company making revenue of $200.74 million in the next quarter that will end on Dec 2023. Company posted $197.42 million and $186.07 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 5.90% while estimating it to be 7.90% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 81.50% during past 5 years. In 2023, company’s earnings growth rate is likely to be around 129.80% while estimates for its earnings growth in next 5 years are of 10.19%.

VRRM Dividends

Verra Mobility Corporation is more likely to be releasing its next quarterly report in October and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Verra Mobility Corporation (NASDAQ:VRRM)’s Major holders

Insiders are in possession of 0.80% of company’s total shares while institution are holding 119.69 percent of that, with stock having share float percentage of 120.65%. Investors also watch the number of corporate investors in a company very closely, which is 119.69% institutions for Verra Mobility Corporation that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at VRRM for having 21.18 million shares of worth $397.59 million. And as of Jun 29, 2023, it was holding 12.48% of the company’s outstanding shares.

The second largest institutional holder is Vanguard Group Inc, which was holding about 14.96 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 8.82% of outstanding shares, having a total worth of $280.84 million.

On the other hand, iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Aug 30, 2023, the former fund manager was holding 9.86 million shares of worth $185.15 million or 5.81% of the total outstanding shares. The later fund manager was in possession of 4.3 million shares on Jun 29, 2023, making its stake of worth around $80.69 million in the company or a holder of 2.53% of company’s stock.

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