Mobility Global (NYSE:MBGL) Shares Gap Up After Insider Buying Activity

Key Points

• Insider buying lifted Mobility Global shares: Director Mark S. Peek purchased 50,000 shares over three days for roughly $980,550, and the stock opened at $20.82 after previously closing at $19.83.
• Analysts remain moderately positive but trimmed targets: Mobility Global has a consensus “Moderate Buy” rating and a $22.80 price target, although Wells Fargo and Robert W. Baird recently lowered their targets.
• The company reported quarterly revenue of $468 million and EPS of $0.18, while declaring a $0.06 quarterly dividend, equivalent to a 1.2% annualized yield.

Mobility Global, Inc. (NYSE:MBGL - Get Free Report) gapped up prior to trading on Friday following insider buying activity. The stock had previously closed at $19.83, but opened at $20.82. Mobility Global shares last traded at $20.19, with a volume of 222,496 shares trading hands.

Specifically, Director Mark S. Peek bought 15,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average cost of $19.87 per share, for a total transaction of $298,050.00. Following the purchase, the director directly owned 50,000 shares of the company's stock, valued at approximately $993,500. This trade represents a 42.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark S. Peek acquired 25,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were bought at an average price of $19.50 per share, with a total value of $487,500.00. Following the completion of the purchase, the director directly owned 35,000 shares of the company's stock, valued at approximately $682,500. This trade represents a 250.00% increase in their position. The SEC filing for this purchase provides additional information. In related news, Director Mark S. Peek acquired 10,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average cost of $19.50 per share, with a total value of $195,000.00. Following the completion of the acquisition, the director directly owned 10,000 shares of the company's stock, valued at $195,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

MBGL has been the topic of several research reports. Wells Fargo & Company cut their target price on Mobility Global from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday. Zacks Research raised Mobility Global to a "hold" rating in a research report on Thursday, July 30th. Robert W. Baird dropped their price target on Mobility Global from $23.00 to $22.00 and set a "neutral" rating on the stock in a research note on Monday. UBS Group set a $23.00 price objective on Mobility Global in a report on Thursday, July 2nd. Finally, Royal Bank Of Canada initiated coverage on Mobility Global in a research note on Thursday, July 2nd. They issued a "sector perform" rating and a $23.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Mobility Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.80.

Mobility Global Price Performance

The company has a market cap of $5.98 billion and a price-to-earnings ratio of 112.27.

Mobility Global (NYSE:MBGL - Get Free Report) last issued its quarterly 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. As a group, analysts forecast that Mobility Global, Inc. will post 1.45 earnings per share for the current year.

Mobility Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, August 27th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.2%.

Institutional Investors Weigh In On Mobility Global

An institutional investor recently bought a new position in Mobility Global stock. Advisors Preferred LLC purchased a new position in Mobility Global, Inc. (NYSE:MBGL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,800 shares of the company's stock, valued at approximately $36,000.

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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