Markel Group Inc. Makes New $2.02 Million Investment in Mobility Global, Inc. $MBGL

Key Points

• Markel Group acquired a new 117,690-share stake in Mobility Global during the third quarter, valued at approximately $2.02 million. Several other institutional investors also established new positions.
• Analysts have a consensus “Hold” rating and a $22.20 average price target; the stock opened at $19.34 in the latest session cited.
• Mobility Global declared a quarterly dividend of $0.06 per share, equivalent to a 1.2% annual yield. Company insiders also bought 50,000 shares worth about $980,550 over the prior 90 days.

Markel Group Inc. acquired a new stake in Mobility Global, Inc. (NYSE:MBGL - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 117,690 shares of the company's stock, valued at approximately $2,018,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in shares of Mobility Global during the third quarter worth $29,554,000. Ninety One UK Ltd bought a new position in Mobility Global in the third quarter worth about $15,245,000. Fenimore Asset Management Inc bought a new position in Mobility Global in the third quarter worth about $10,435,000. Tidal Investments LLC purchased a new stake in shares of Mobility Global during the second quarter valued at about $11,253,000. Finally, Douglas Lane & Associates LLC purchased a new stake in shares of Mobility Global during the third quarter valued at about $2,139,000.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MBGL. Morgan Stanley started coverage on shares of Mobility Global in a report on Friday, October 9th. They issued an "equal weight" rating and a $19.00 price target on the stock. Wall Street Zen upgraded shares of Mobility Global to a "hold" rating in a research note on Saturday, July 18th. Citigroup initiated coverage on shares of Mobility Global in a research note on Tuesday, August 11th. They set a "neutral" rating and a $23.00 price objective for the company. Wells Fargo & Company decreased their target price 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. Finally, Evercore started coverage on shares of Mobility Global in a research report on Wednesday, September 9th. They set an "in-line" rating and a $22.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Mobility Global has a consensus rating of "Hold" and a consensus target price of $22.20.

Mobility Global Price Performance

Mobility Global stock opened at $19.34 on Wednesday. Mobility Global, Inc. has a 1-year low of $16.95 and a 1-year high of $26.00. The stock has a fifty day simple moving average of $19.02. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.20.

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

Mobility Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, November 30th will be issued a $0.06 dividend. 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 (DPR) is currently 133.33%.

Insider Buying and Selling at Mobility Global

In other Mobility Global news, Director Mark Peek purchased 15,000 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were acquired at an average price of $19.87 per share, for a total transaction of $298,050.00. Following the completion of the purchase, the director 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 filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 50,000 shares of company stock worth $980,550 in the last 90 days.

Mobility Global Company 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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