Mobility Global (NYSE:MBGL) Reaches New 12-Month Low – Here’s Why

Mobility Global, Inc. (NYSE:MBGL) shares hit a new 52-week low during mid-day trading on Monday. The company traded as low as $17.51 and last traded at $17.60, with a volume of 71610 shares. The stock had previously closed at $17.87.

Wall Street Analyst Weigh In

Several research firms have recently commented on MBGL. Wall Street Zen upgraded shares of Mobility Global to a “hold” rating in a research report on Saturday, July 18th. Citigroup assumed coverage on Mobility Global in a research note on Tuesday, August 11th. They issued a “neutral” rating and a $23.00 target price on the stock. Robert W. Baird lowered their target price on Mobility Global from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, August 10th. Bank of America initiated coverage on Mobility Global in a research report on Friday, August 21st. They set a “neutral” rating and a $23.00 price target for the company. Finally, Wells Fargo & Company reduced their price objective on Mobility Global from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.56.

Mobility Global Trading Down 1.0%

The stock has a market capitalization of $5.24 billion and a PE ratio of 98.36. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a 50 day moving average of $20.12.

Mobility Global (NYSE:MBGL) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.18 earnings per share for the quarter. The business had revenue of $468.00 million for the quarter. As a group, analysts predict that Mobility Global, Inc. will post 1.52 EPS for the current year.

Mobility Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Thursday, August 27th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.4%. The ex-dividend date was Thursday, August 27th. Mobility Global’s dividend payout ratio is presently 133.33%.

Insiders Place Their Bets

In other Mobility Global news, Director Mark Peek purchased 25,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were purchased at an average cost of $19.50 per share, with a total value of $487,500.00. Following the purchase, the director owned 35,000 shares in the company, valued at approximately $682,500. This represents a 250.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders bought 50,000 shares of company stock worth $980,550 in the last quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Preferred LLC purchased a new position in shares of Mobility Global during the 2nd quarter worth about $36,000. Citadel Advisors LLC acquired a new position in Mobility Global during the second quarter worth approximately $279,000. Finally, Tidal Investments LLC purchased a new position in Mobility Global during the second quarter worth approximately $11,253,000.

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.