D.A. Davidson & CO. Makes New Investment in Mobility Global, Inc. $MBGL

Key Points

• D.A. Davidson opened a position of 78,244 Mobility Global shares in the third quarter, valued at approximately $1.34 million. Several other institutional investors also established new stakes.
• Analysts have a consensus “Hold” rating and an average price target of $22.20; shares opened at $19.81.
• Insiders bought 50,000 shares worth about $980,550 over the past 90 days. Mobility Global also declared a quarterly dividend of $0.06 per share, a 1.2% yield.

D.A. Davidson & CO. acquired a new stake in shares of Mobility Global, Inc. (NYSE:MBGL - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 78,244 shares of the company's stock, valued at approximately $1,342,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of Mobility Global in the 3rd quarter valued at $29,554,000. Ninety One UK Ltd acquired a new position in Mobility Global during the 3rd quarter worth $15,245,000. Fenimore Asset Management Inc acquired a new stake in Mobility Global during the third quarter valued at approximately $10,435,000. Tidal Investments LLC bought a new position in Mobility Global during the second quarter worth $11,253,000. Finally, Douglas Lane & Associates LLC bought a new stake in shares of Mobility Global during the 3rd quarter valued at about $2,139,000.

Mobility Global Price Performance

Shares of NYSE:MBGL opened at $19.81 on Thursday. The firm's fifty day moving average price is $19.01. 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, Inc. has a 12-month low of $16.95 and a 12-month high of $26.00.

Mobility Global (NYSE:MBGL - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.18 EPS for the quarter. The business had revenue of $468.00 million for the quarter. On average, equities research analysts forecast that Mobility Global, Inc. will post 1.52 EPS for the current fiscal year.

Mobility Global Dividend Announcement

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

Analyst Upgrades and Downgrades

MBGL has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price objective on shares of Mobility Global from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, August 10th. Morgan Stanley initiated coverage on Mobility Global in a research report on Friday, October 9th. They issued an "equal weight" rating and a $19.00 target price on the stock. Bank of America initiated coverage on Mobility Global in a research note on Friday, August 21st. They set a "neutral" rating and a $23.00 target price on the stock. JPMorgan Chase & Co. began coverage on Mobility Global in a report on Monday, September 28th. They set a "neutral" rating and a $21.00 target price on the stock. Finally, Robert W. Baird cut their price objective on Mobility Global from $23.00 to $22.00 and set a "neutral" rating for the company in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $22.20.

Insiders Place Their Bets

In related news, Director Mark Peek purchased 25,000 shares of Mobility Global stock in a transaction on Wednesday, August 12th. The stock was bought at an average price of $19.50 per share, with a total value of $487,500.00. Following the completion of the transaction, the director directly owned 35,000 shares of the company's stock, valued at approximately $682,500. This represents a 250.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 50,000 shares of company stock worth $980,550 in the last 90 days.

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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