Segment Wealth Management LLC Makes New Investment in Mobility Global, Inc. $MBGL

Segment Wealth Management LLC purchased a new stake in Mobility Global, Inc. (NYSE:MBGL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 50,457 shares of the company’s stock, valued at approximately $865,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in shares of Mobility Global in the 3rd quarter valued at about $29,554,000. Ninety One UK Ltd bought a new stake in Mobility Global during the third quarter worth about $15,245,000. Fenimore Asset Management Inc bought a new stake in Mobility Global during the third quarter worth about $10,435,000. Tidal Investments LLC bought a new stake in Mobility Global during the second quarter worth about $11,253,000. Finally, Douglas Lane & Associates LLC bought a new stake in Mobility Global during the third quarter worth about $2,139,000.

Insider Buying and Selling at Mobility Global

In related news, Director Mark Peek purchased 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average price of $19.87 per share, for a total transaction of $298,050.00. Following the completion of the transaction, the director 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 document filed with the SEC, which is available through this link. In the last ninety days, insiders acquired 50,000 shares of company stock worth $980,550.

Mobility Global Stock Down 2.6%

NYSE MBGL opened at $18.19 on Wednesday. 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 simple moving average of $19.12.

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

Mobility Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, November 30th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.24 annualized dividend and a yield of 1.3%.

Analysts Set New Price Targets

Several research analysts recently commented on MBGL shares. 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. UBS Group set a $23.00 price target on Mobility Global in a research report on Thursday, July 2nd. Weiss Ratings upgraded Mobility Global from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 22nd. Barclays assumed coverage on Mobility Global in a research note on Tuesday, September 1st. They set an “equal weight” rating and a $23.00 price objective on the stock. Finally, Morgan Stanley assumed coverage on Mobility Global in a report on Friday, October 9th. They issued an “equal weight” rating and a $19.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.20.

Mobility Global Profile

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.