Mobility Global, Inc. (NYSE:MBGL) Stock Has Consensus Target Price of $22.20

Key Points

• Analyst consensus is “Hold”: Nine of 12 analysts rate Mobility Global a hold, and the average 12-month price target is $22.20.
• Buying activity has picked up: Company insiders purchased 50,000 shares worth about $980,550 over 90 days, while several institutional investors disclosed new stakes in the third quarter.
• Mobility Global reported quarterly earnings of $0.18 per share on $468 million in revenue and declared a $0.06 quarterly dividend, equivalent to a 1.2% yield. Its dividend payout ratio is 133.33%.

Mobility Global, Inc. (NYSE:MBGL - Get Free Report) has been assigned an average recommendation of "Hold" from the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $22.20.

Several equities research analysts have weighed in on MBGL shares. Wells Fargo & Company dropped their target price on Mobility Global from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Mobility Global from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, October 22nd. Wolfe Research upgraded shares of Mobility Global to a "strong-buy" rating in a research report on Monday, July 20th. Morgan Stanley assumed coverage on shares of Mobility Global in a research note on Friday, October 9th. They issued an "equal weight" rating and a $19.00 price target on the stock. Finally, JPMorgan Chase & Co. initiated coverage on Mobility Global in a report on Monday, September 28th. They set a "neutral" rating and a $21.00 price target on the stock.

Insider Buying and Selling

In other Mobility Global news, Director Mark Peek bought 15,000 shares of the business's stock in a transaction on Thursday, August 13th. The shares were purchased at an average price of $19.87 per share, with a total value of $298,050.00. Following the purchase, the director directly owned 50,000 shares of the company's stock, valued at approximately $993,500. The trade was a 42.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders purchased 50,000 shares of company stock valued at $980,550.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. William Blair Investment Management LLC bought a new stake in shares of Mobility Global during the 3rd quarter worth about $90,742,000. Mawer Investment Management Ltd. acquired a new stake in shares of Mobility Global in the 3rd quarter worth approximately $63,568,000. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in shares of Mobility Global in the third quarter valued at approximately $29,554,000. Ninety One UK Ltd bought a new position in shares of Mobility Global in the third quarter valued at approximately $15,245,000. Finally, PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in shares of Mobility Global in the third quarter valued at approximately $12,541,000.

Mobility Global Stock Down 0.2%

Shares of MBGL stock opened at $19.61 on Monday. The firm has a market capitalization of $5.80 billion and a P/E ratio of 108.94. The company has a 50 day moving average of $18.98. Mobility Global has a 52 week low of $16.95 and a 52 week high of $26.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.88 and a current ratio of 1.88.

Mobility Global (NYSE:MBGL - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.18 earnings per share for the quarter. The company had revenue of $468.00 million for the quarter. Analysts expect that Mobility Global will post 1.52 EPS for the current fiscal year.

Mobility Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Monday, November 30th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, November 30th. Mobility Global's dividend payout ratio is 133.33%.

Mobility Global Company Profile

Mobility Global is a blank-check company formed to pursue a merger, acquisition, share exchange or similar business combination with an operating business. It does not have established products or services of its own.

The company's stated focus is the mobility sector, which may include businesses involved in transportation, automotive services, logistics and related technologies. Its activities are centered on identifying and completing a suitable business combination.

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