Ninety One UK Ltd Purchases 888,914 Shares of Mobility Global, Inc. $MBGL

Key Points

• Ninety One UK Ltd. initiated a position of 888,914 Mobility Global shares worth approximately $15.2 million, representing 0.30% of the company. Several other institutional investors also established new positions.
• Mobility Global reported quarterly EPS of $0.18 on revenue of $468 million. The company pays a quarterly dividend of $0.06 per share, equivalent to a 1.3% yield, though its 133.33% payout ratio exceeds earnings.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $22.20 price target versus the stock’s reported $18.71 price. An insider also bought 25,000 shares, while insiders purchased 50,000 shares in total over the past three months.

Ninety One UK Ltd purchased a new position in shares of Mobility Global, Inc. (NYSE:MBGL - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 888,914 shares of the company's stock, valued at approximately $15,245,000. Ninety One UK Ltd owned 0.30% of Mobility Global at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Trust Services Inc. acquired a new stake in shares of Mobility Global during the 3rd quarter worth about $25,000. CX Institutional purchased a new stake in Mobility Global in the 3rd quarter valued at about $30,000. Advisors Preferred LLC acquired a new position in Mobility Global in the second quarter valued at about $36,000. Ashurst Perkins Coie Trust Co acquired a new position in Mobility Global in the third quarter valued at about $38,000. Finally, Eastern Bank acquired a new position in Mobility Global in the third quarter valued at about $55,000.

Mobility Global Stock Performance

MBGL opened at $18.71 on Friday. Mobility Global, Inc. has a 52 week low of $16.95 and a 52 week high of $26.00. The stock's fifty day moving average price is $19.30. 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 issued its quarterly earnings data on Friday, August 7th. The company reported $0.18 earnings per share for the quarter. The firm had revenue of $468.00 million during the quarter. On average, equities analysts forecast that Mobility Global, Inc. will post 1.52 EPS for the current year.

Mobility Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Thursday, August 27th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, August 27th. This represents a $0.24 annualized dividend and a yield of 1.3%. Mobility Global's dividend payout ratio is presently 133.33%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MBGL. Citigroup assumed coverage on shares of Mobility Global in a research note on Tuesday, August 11th. They set a "neutral" rating and a $23.00 target price for the company. Wolfe Research raised shares of Mobility Global to a "strong-buy" rating in a research note on Monday, July 20th. Wall Street Zen raised shares of Mobility Global to a "hold" rating in a research note on Saturday, July 18th. Robert W. Baird decreased their price objective on shares of Mobility Global from $23.00 to $22.00 and set a "neutral" rating on the stock in a report on Monday, August 10th. Finally, 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 objective on the stock. One 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 stock presently has a consensus rating of "Hold" and a consensus price target of $22.20.

Insider Buying and Selling

In other news, Director Mark Peek bought 25,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was bought at an average cost of $19.50 per share, for a total transaction of $487,500.00. Following the acquisition, the director directly owned 35,000 shares of the company's stock, valued at $682,500. The trade was a 250.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders bought 50,000 shares of company stock worth $980,550.

About Mobility Global

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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