Geode Capital Management LLC Purchases 92,110 Shares of Mobile Infrastructure Co. (NASDAQ:BEEP)

Geode Capital Management LLC raised its stake in shares of Mobile Infrastructure Co. (NASDAQ:BEEP - Free Report) by 32.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 375,584 shares of the company's stock after buying an additional 92,110 shares during the quarter. Geode Capital Management LLC owned about 0.90% of Mobile Infrastructure worth $1,691,000 at the end of the most recent reporting period.

Separately, Charles Schwab Investment Management Inc. purchased a new position in shares of Mobile Infrastructure in the 4th quarter worth about $101,000. 84.30% of the stock is currently owned by institutional investors and hedge funds.

Mobile Infrastructure Stock Down 1.2 %

BEEP traded down $0.05 on Monday, hitting $3.95. The company had a trading volume of 3,347 shares, compared to its average volume of 65,984. Mobile Infrastructure Co. has a 52-week low of $2.48 and a 52-week high of $4.86. The firm has a market capitalization of $167.72 million, a P/E ratio of -4.39 and a beta of 0.50. The stock has a fifty day simple moving average of $3.98 and a 200-day simple moving average of $3.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.10 and a quick ratio of 0.10.

Mobile Infrastructure (NASDAQ:BEEP - Get Free Report) last issued its quarterly earnings results on Monday, March 10th. The company reported ($0.03) earnings per share (EPS) for the quarter. Mobile Infrastructure had a negative return on equity of 4.36% and a negative net margin of 24.59%. During the same quarter in the prior year, the business earned ($0.34) earnings per share. As a group, equities analysts expect that Mobile Infrastructure Co. will post -0.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BEEP. Maxim Group started coverage on shares of Mobile Infrastructure in a research report on Friday, February 21st. They issued a "buy" rating and a $7.00 target price on the stock. Piper Sandler began coverage on shares of Mobile Infrastructure in a report on Thursday, January 23rd. They set an "overweight" rating and a $5.00 target price for the company. Finally, B. Riley assumed coverage on Mobile Infrastructure in a report on Thursday, January 23rd. They set a "buy" rating and a $5.00 price target on the stock.

Mobile Infrastructure Company Profile

Mobile Infrastructure Corporation is a Maryland corporation. The Company owns a diversified portfolio of parking assets primarily located in the Midwest and Southwest. As of December 31, 2023, the Company owned 43 parking facilities in 21 separate markets throughout the United States, with a total of 15,700 parking spaces and approximately 5.4 million square feet.