Oregon Public Employees Retirement Fund Acquires 66,146 Shares of Mobility Global, Inc. $MBGL

Key Points

• Oregon Public Employees Retirement Fund opened a position in Mobility Global, acquiring 66,146 shares worth approximately $1.13 million in the third quarter.
• Analyst sentiment is mixed but averages to a “Hold” consensus, with a $22.20 average price target; ratings include one Strong Buy, one Buy, nine Holds, and one Sell.
• Mobility Global announced a quarterly dividend of $0.06 per share, equal to a 1.2% annualized yield. Its reported payout ratio is 133.33%.

Oregon Public Employees Retirement Fund acquired a new stake in Mobility Global, Inc. (NYSE:MBGL - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 66,146 shares of the company's stock, valued at approximately $1,134,000.

A number of other large investors also recently bought and sold shares of MBGL. Wealth Enhancement Trust Services Inc. purchased a new stake in shares of Mobility Global in the third quarter valued at about $25,000. Sterling Capital Management LLC acquired a new position in shares of Mobility Global during the third quarter worth about $26,000. SBI Securities Co. Ltd. purchased a new position in Mobility Global during the third quarter worth about $28,000. CX Institutional purchased a new position in Mobility Global during the third quarter worth about $30,000. Finally, Advisors Preferred LLC purchased a new position in Mobility Global during the second quarter worth about $36,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wolfe Research upgraded shares of Mobility Global to a "strong-buy" rating in a research report on Monday, July 20th. Wall Street Zen upgraded Mobility Global to a "hold" rating in a research report on Saturday, July 18th. Wells Fargo & Company cut their target price on Mobility Global from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, August 10th. Citigroup initiated coverage on Mobility Global in a research note on Tuesday, August 11th. They set a "neutral" rating and a $23.00 target price for the company. Finally, Evercore initiated coverage on Mobility Global in a report on Wednesday, September 9th. They issued an "in-line" rating and a $22.00 price target for the company. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Mobility Global has a consensus rating of "Hold" and an average target price of $22.20.

Mobility Global Stock Performance

Shares of NYSE MBGL opened at $19.61 on Monday. 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, Inc. has a one year low of $16.95 and a one year high of $26.00. The stock has a market cap of $5.80 billion and a price-to-earnings ratio of 108.94. The stock's fifty day moving average is $18.98.

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

Mobility Global Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.2%. Mobility Global's payout ratio is currently 133.33%.

Insiders Place Their Bets

In related news, Director Mark Peek bought 25,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $19.50 per share, for a total transaction of $487,500.00. Following the completion of the transaction, the director owned 35,000 shares of the company's stock, valued at $682,500. This represents a 250.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 50,000 shares of company stock worth $980,550 in the last quarter.

Mobility Global Company Profile

Mobility Global is a blank-check company formed to pursue a merger, acquisition, share exchange or similar business combination with an operating business. It does not have established products or services of its own.

The company's stated focus is the mobility sector, which may include businesses involved in transportation, automotive services, logistics and related technologies. Its activities are centered on identifying and completing a suitable business combination.

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