Cullinan Associates Inc. Purchases New Holdings in Mobility Global, Inc. $MBGL

Key Points

• Cullinan Associates bought 58,400 Mobility Global shares in the third quarter, worth about $1.0 million. Several other institutional investors also opened positions, including Tidal Investments, which acquired a stake valued at $11.3 million.
• Mobility Global reported quarterly earnings of $0.18 per share on $468 million in revenue and declared a quarterly dividend of $0.06 per share, equivalent to a 1.2% annual yield.
• Analyst sentiment is mostly neutral: the consensus rating is Hold, with an average price target of $22.20. Shares opened at $19.61, within a 52-week range of $16.95 to $26.00.

Cullinan Associates Inc. purchased 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 disclosure with the Securities & Exchange Commission. The firm purchased 58,400 shares of the company's stock, valued at approximately $1,002,000.

A number of other large investors also recently bought and sold shares of MBGL. Tidal Investments LLC acquired a new position in Mobility Global in the second quarter valued at $11,253,000. Douglas Lane & Associates LLC purchased a new stake in Mobility Global during the third quarter valued at about $2,139,000. Markel Group Inc. acquired a new stake in Mobility Global during the third quarter worth about $2,018,000. Ninety One North America Inc. acquired a new stake in Mobility Global during the third quarter worth about $1,117,000. Finally, D.A. Davidson & CO. acquired a new stake in Mobility Global during the third quarter worth about $1,342,000.

Mobility Global Stock Down 1.3%

Shares of NYSE:MBGL opened at $19.61 on Friday. The firm has a market capitalization of $5.80 billion and a P/E ratio of 108.94. The firm has a 50 day moving average price of $18.98. Mobility Global, Inc. 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 current ratio of 1.88 and a quick ratio of 1.88.

Mobility Global (NYSE:MBGL - Get Free Report) last posted its earnings results on Friday, August 7th. The company reported $0.18 EPS for the quarter. The firm had revenue of $468.00 million for the quarter. On average, equities analysts anticipate that Mobility Global, Inc. will post 1.52 earnings per share for the current year.

Mobility Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Monday, November 30th will be issued a dividend of $0.06 per share. 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 (DPR) is presently 133.33%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MBGL. Wall Street Zen upgraded Mobility Global to a "hold" rating in a report on Saturday, July 18th. Robert W. Baird decreased their target price on Mobility Global from $23.00 to $22.00 and set a "neutral" rating for the company in a report on Monday, August 10th. Zacks Research raised shares of Mobility Global to a "hold" rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. started coverage on shares of Mobility Global in a research report on Monday, September 28th. They set a "neutral" rating and a $21.00 target price for the company. Finally, Wolfe Research upgraded shares of Mobility Global to a "strong-buy" rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $22.20.

Insiders Place Their Bets

In other news, Director Mark Peek purchased 15,000 shares of the company's stock in a transaction that occurred 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. This represents a 42.86% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have acquired 50,000 shares of company stock worth $980,550.

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.

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