Mobility Global (NYSE:MBGL) Shares Break Above 50 Day Moving Average - Time to Sell?

Key Points

• Mobility Global shares rose 3.7%, breaking above the 50-day moving average of $19.03 and reaching as high as $19.77, with about 2.94 million shares traded.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating and an average price target of $22.20, despite one “Strong Buy” rating and recent upgrades from some firms.
• The company reported quarterly EPS of $0.18 on $468 million in revenue and declared a $0.06 quarterly dividend, although its annualized payout ratio is high at 133.33%. Insiders have also bought 50,000 shares over the past 90 days.

Shares of Mobility Global, Inc. (NYSE:MBGL - Get Free Report) passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $19.03 and traded as high as $19.77. Mobility Global shares last traded at $19.6190, with a volume of 2,935,183 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MBGL shares. Wells Fargo & Company lowered their price objective on Mobility Global from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, August 10th. Evercore started coverage on Mobility Global in a research note on Wednesday, September 9th. They issued an "in-line" rating and a $22.00 price objective on the stock. Wolfe Research upgraded shares of Mobility Global to a "strong-buy" rating in a report on Monday, July 20th. Citigroup began coverage on shares of Mobility Global in a research report on Tuesday, August 11th. They set a "neutral" rating and a $23.00 price target for the company. Finally, Zacks Research upgraded Mobility Global to a "hold" rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Mobility Global currently has a consensus rating of "Hold" and an average target price of $22.20.

Mobility Global Stock Up 3.7%

The firm has a market cap of $5.81 billion and a price-to-earnings ratio of 108.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a 50 day moving average price of $19.03.

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

Mobility Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, November 30th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis 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 acquired 15,000 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The shares were purchased 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 directly owned 50,000 shares in the company, valued at $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 is accessible through this link. Over the last ninety days, insiders have bought 50,000 shares of company stock worth $980,550.

Institutional Investors Weigh In On Mobility Global

Large investors have recently made changes to their positions in the company. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in Mobility Global in the 3rd quarter worth approximately $29,554,000. Ninety One UK Ltd acquired a new stake in Mobility Global in the third quarter worth about $15,245,000. Tidal Investments LLC acquired a new stake in Mobility Global in the second quarter worth about $11,253,000. Fenimore Asset Management Inc bought a new position in Mobility Global in the 3rd quarter valued at about $10,435,000. Finally, Douglas Lane & Associates LLC bought a new position in Mobility Global in the 3rd quarter valued at about $2,139,000.

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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