Douglas Lane & Associates LLC Acquires 124,711 Shares of Mobility Global, Inc. $MBGL

Key Points

• Douglas Lane & Associates acquired 124,711 shares of Mobility Global worth approximately $2.14 million during the third quarter. Several other institutional investors also initiated positions, including Fenimore Asset Management with a stake valued at roughly $10.44 million.
• Analyst sentiment is broadly neutral, with a consensus “Hold” rating and a $22.20 price target. Recent targets range from $19 to $23, compared with the stock’s Friday opening price of $18.22.
• Mobility Global reported quarterly EPS of $0.18 on $468 million in revenue and pays a $0.06 quarterly dividend, equivalent to a 1.3% yield. Director Mark Peek also purchased 15,000 shares, while insiders bought 50,000 shares worth approximately $981,000 over the past 90 days.

Douglas Lane & Associates LLC bought a new position in shares of Mobility Global, Inc. (NYSE:MBGL - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 124,711 shares of the company's stock, valued at approximately $2,139,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC acquired a new position in shares of Mobility Global in the 3rd quarter valued at about $121,000. Farther Finance Advisors LLC acquired a new stake in shares of Mobility Global during the 3rd quarter valued at about $202,000. Fenimore Asset Management Inc purchased a new position in shares of Mobility Global in the 3rd quarter valued at about $10,435,000. YHB Investment Advisors Inc. acquired a new stake in Mobility Global in the third quarter valued at approximately $343,000. Finally, Applied Capital LLC FL purchased a new stake in shares of Mobility Global in the third quarter valued at approximately $1,009,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Evercore started coverage on shares of Mobility Global in a research note on Wednesday, September 9th. They issued an "in-line" rating and a $22.00 price target on the stock. Wall Street Zen upgraded shares of Mobility Global to a "hold" rating in a report on Saturday, July 18th. Royal Bank Of Canada began coverage on Mobility Global in a research report on Thursday, July 2nd. They set a "sector perform" rating and a $23.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of Mobility Global from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, August 10th. Finally, Morgan Stanley began coverage on shares of Mobility Global in a research report on Friday. They set an "equal weight" rating and a $19.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $22.20.

Mobility Global Stock Up 0.8%

NYSE MBGL opened at $18.22 on Friday. Mobility Global, Inc. has a 52-week low of $16.95 and a 52-week high of $26.00. The business's 50-day moving average is $19.53. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market capitalization of $5.39 billion and a price-to-earnings ratio of 101.21.

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

Mobility Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Thursday, August 27th. Mobility Global's dividend payout ratio (DPR) is presently 133.33%.

Insider Buying and Selling at Mobility Global

In other news, Director Mark Peek acquired 15,000 shares of Mobility Global stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $19.87 per share, with a total value of $298,050.00. Following the completion of the acquisition, the director owned 50,000 shares in the company, valued at $993,500. This trade represents a 42.86% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders purchased 50,000 shares of company stock valued at $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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