Applied Capital LLC FL Purchases New Position in Mobility Global, Inc. $MBGL

Key Points

• Applied Capital LLC FL acquired 58,833 Mobility Global shares during the third quarter, valued at approximately $1.0 million. Several other institutional investors also initiated positions, including Tidal Investments, which purchased a stake worth about $11.3 million.
• Analyst sentiment remains mixed: the stock has an average rating of “Hold” and an average price target of $22.56, compared with its reported opening price of $17.37.
• Mobility Global reported quarterly EPS of $0.18 on revenue of $468 million and declared a $0.06 quarterly dividend, equating to a 1.4% annualized yield. Insiders purchased 50,000 shares worth approximately $980,550 over the prior three months.

Applied Capital LLC FL acquired a new position in shares of Mobility Global, Inc. (NYSE:MBGL - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 58,833 shares of the company's stock, valued at approximately $1,009,000.

Several other large investors have also modified their holdings of MBGL. Wealth Enhancement Trust Services Inc. purchased a new position in Mobility Global during the 3rd quarter worth approximately $25,000. Eastern Bank purchased a new stake in Mobility Global in the third quarter valued at approximately $55,000. MassMutual Private Wealth & Trust FSB purchased a new stake in Mobility Global in the third quarter valued at approximately $99,000. CX Institutional purchased a new position in shares of Mobility Global during the third quarter worth approximately $30,000. Finally, Tidal Investments LLC acquired a new position in shares of Mobility Global in the 2nd quarter valued at $11,253,000.

Wall Street Analysts Forecast Growth

MBGL has been the subject of several research reports. Wells Fargo & Company reduced their price target on shares of Mobility Global from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, August 10th. JPMorgan Chase & Co. assumed coverage on shares of Mobility Global in a research report on Monday, September 28th. They set a "neutral" rating and a $21.00 price objective on the stock. UBS Group set a $23.00 price objective on shares of Mobility Global in a research note on Thursday, July 2nd. Wolfe Research raised shares of Mobility Global to a "strong-buy" rating in a report on Monday, July 20th. Finally, Bank of America started coverage on shares of Mobility Global in a research note on Friday, August 21st. They set a "neutral" rating and a $23.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $22.56.

Insider Buying and Selling at Mobility Global

In other news, Director Mark Peek purchased 25,000 shares of the business's stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average price of $19.50 per share, with a total value of $487,500.00. Following the purchase, the director directly owned 35,000 shares of the company's stock, valued at $682,500. This represents a 250.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders acquired a total of 50,000 shares of company stock valued at $980,550 in the last three months.

Mobility Global Stock Down 1.4%

Shares of NYSE:MBGL opened at $17.37 on Thursday. The stock has a market capitalization of $5.14 billion and a P/E ratio of 96.51. The company has a 50-day moving average price of $19.62. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.20. Mobility Global, Inc. has a fifty-two week low of $16.95 and a fifty-two week high of $26.00.

Mobility Global (NYSE:MBGL - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.18 earnings per share (EPS) for the quarter. The firm had revenue of $468.00 million for the quarter. On average, research analysts forecast that Mobility Global, Inc. will post 1.56 EPS for the current year.

Mobility Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th were given a $0.06 dividend. The ex-dividend date was Thursday, August 27th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. Mobility Global's dividend payout ratio (DPR) is currently 133.33%.

Mobility Global Profile

Mobility Global Inc providing critical data and analytics across the full vehicle lifecycle. Its portfolio of trusted brands and products includes CARFAX, automotiveMastermind, Polk Automotive Solutions and Market Scan, supporting automotive manufacturers, suppliers, dealer groups, media, financial institutions and consumers. Mobility Global Inc is based in NEW YORK.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.