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 after an insider bought additional shares in the company. 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 trading hands.

Specifically, Director Nechemia Jacob Peres purchased 25,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was bought at an average price of $14.70 per share, for a total transaction of $367,500.00. Following the transaction, the director directly owned 30,434 shares in the company, valued at $447,379.80. This represents a 460.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Guggenheim lowered their price target on shares of Via Transportation from $58.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. The Goldman Sachs Group reiterated a “buy” rating and set a $24.00 price target on shares of Via Transportation in a research report on Wednesday, May 13th. Wells Fargo & Company lowered their price target on shares of Via Transportation from $36.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price target on shares of Via Transportation in a research report on Monday, March 2nd. Finally, Weiss Ratings upgraded shares of Via Transportation from a “sell (e+)” rating to a “sell (d)” rating in a research report on Wednesday, May 13th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.10.

Trending Headlines about 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 Stock Up 5.8%

The stock has a market cap of $1.27 billion and a price-to-earnings ratio of -16.77. The stock’s fifty day moving average is $15.59 and its 200-day moving average is $20.89.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in Via Transportation during the third quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Via Transportation during the fourth quarter valued at approximately $34,000. Assetmark Inc. acquired a new position in Via Transportation during the third quarter valued at approximately $36,000. Essential Partners LLC acquired a new position in Via Transportation during the first quarter valued at approximately $40,000. Finally, Strs Ohio acquired a new position in Via Transportation during the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 74.40% of the company’s stock.

About Via Transportation

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.