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

Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Mobility Global, Inc. (NYSE:MBGL) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 49,550 shares of the company’s stock, valued at approximately $850,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Trust Services Inc. purchased a new stake in shares of Mobility Global in the third quarter valued at about $25,000. Sterling Capital Management LLC acquired a new stake in Mobility Global during the third quarter worth about $26,000. SBI Securities Co. Ltd. acquired a new stake in Mobility Global during the third quarter worth about $28,000. CX Institutional purchased a new position in Mobility Global during the third quarter worth about $30,000. Finally, Advisors Preferred LLC purchased a new position in Mobility Global during the second quarter worth about $36,000.

Mobility Global Trading Down 0.2%

Shares of MBGL opened at $19.61 on Monday. The stock has a market cap of $5.80 billion and a price-to-earnings ratio of 108.94. Mobility Global, Inc. has a 12-month low of $16.95 and a 12-month high of $26.00. The firm has a 50-day moving average of $18.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.88 and a current ratio of 1.88.

Mobility Global (NYSE:MBGL) last announced its earnings results on Friday, August 7th. The company reported $0.18 earnings per share for the quarter. The company had revenue of $468.00 million for the quarter. Equities research analysts forecast that Mobility Global, Inc. will post 1.52 earnings per share for the current year.

Mobility Global Announces Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on MBGL. Weiss Ratings upgraded shares of Mobility Global from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 22nd. Barclays initiated coverage on shares of Mobility Global in a research note on Tuesday, September 1st. They issued an “equal weight” rating and a $23.00 price target for the company. Zacks Research upgraded shares of Mobility Global to a “hold” rating in a report on Thursday, July 30th. Morgan Stanley assumed coverage on shares of Mobility Global in a research report on Friday, October 9th. They set an “equal weight” rating and a $19.00 price target on the stock. Finally, Wall Street Zen upgraded Mobility Global to a “hold” rating in a report on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.20.

Insider Activity

In related news, Director Mark Peek purchased 15,000 shares of Mobility Global stock in a transaction dated Thursday, August 13th. The shares were acquired at an average cost of $19.87 per share, with a total value of $298,050.00. Following the purchase, the director owned 50,000 shares of the company’s stock, valued at approximately $993,500. The trade was a 42.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders have purchased 50,000 shares of company stock valued at $980,550.

Mobility Global Profile

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.