49,550 Shares of Mobility Global, Inc. $MBGL Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. purchased a new stake in Mobility Global, Inc. (NYSE:MBGL) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 49,550 shares of the company’s stock, valued at approximately $850,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MBGL. Wealth Enhancement Trust Services Inc. purchased a new stake in Mobility Global during the 3rd quarter worth approximately $25,000. Sterling Capital Management LLC acquired a new position in shares of Mobility Global during the third quarter valued at approximately $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Mobility Global during the third quarter valued at approximately $28,000. CX Institutional purchased a new position in shares of Mobility Global in the third quarter valued at approximately $30,000. Finally, Advisors Preferred LLC purchased a new position in shares of Mobility Global in the second quarter valued at approximately $36,000.

Insider Activity

In related news, Director Mark Peek purchased 15,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was acquired at an average cost of $19.87 per share, for a total transaction of $298,050.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased 50,000 shares of company stock valued at $980,550 in the last ninety days.

Analyst Ratings Changes

MBGL has been the topic of a number of research analyst reports. Weiss Ratings raised Mobility Global from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 22nd. Evercore assumed coverage on Mobility Global in a research report on Wednesday, September 9th. They set an “in-line” rating and a $22.00 price target for the company. Citigroup assumed coverage on Mobility Global in a research note on Tuesday, August 11th. They issued a “neutral” rating and a $23.00 price objective for the company. Morgan Stanley began coverage on Mobility Global in a report on Friday, October 9th. They issued an “equal weight” rating and a $19.00 price objective on the stock. Finally, Bank of America initiated coverage on Mobility Global in a report on Friday, August 21st. They issued a “neutral” rating and a $23.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.20.

Mobility Global Trading Down 0.2%

Shares of NYSE MBGL opened at $19.61 on Monday. Mobility Global, Inc. has a 12-month low of $16.95 and a 12-month high of $26.00. The stock has a market cap of $5.80 billion and a PE ratio of 108.94. 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 company’s 50-day simple moving average is $18.98.

Mobility Global (NYSE:MBGL) last released its 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 during the quarter. On average, sell-side analysts forecast that Mobility Global, Inc. will post 1.52 EPS for the current fiscal year.

Mobility Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, November 30th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, November 30th. Mobility Global’s payout ratio is currently 133.33%.

About Mobility Global

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.