Verra Mobility gains on $125 mln buyback plan

Verra Mobility

10/05/2022 15:59

** Smart mobility tech co's  VRRM.O  shares up 8.4% at
$13.85
    ** Stock sees biggest intraday pct gain since Nov. 9, 2020
    ** VRRM announces $125 mln worth of share repurchase that
will last for the next 12 months  urn:newsml:reuters.com:*:nPncck8JDa
    ** Buyback made possible by strong free cash flow
generation, CEO David Roberts says, adding that co will still
have plenty of capital for M&A opportunities
    ** YTD, VRRM has lost over 17%
    

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))