Mobility Global, Inc. $MBGL Shares Newly Acquired by Cullinan Associates Inc.

Cullinan Associates Inc. acquired a new stake in shares of Mobility Global, Inc. (NYSE:MBGL) in the third quarter, HoldingsChannel reports. The fund acquired 58,400 shares of the company’s stock, valued at approximately $1,002,000.

A number of other hedge funds have also recently bought and sold shares of MBGL. Ethic Inc. purchased a new stake in Mobility Global during the 3rd quarter worth approximately $216,000. Kornitzer Capital Management Inc. KS acquired a new position in shares of Mobility Global in the 3rd quarter valued at approximately $238,000. Balentine LLC acquired a new position in shares of Mobility Global in the 3rd quarter valued at approximately $311,000. Pictet Asset Management Holding SA purchased a new position in shares of Mobility Global during the 3rd quarter valued at approximately $808,000. Finally, Parallel Advisors LLC purchased a new position in shares of Mobility Global during the 3rd quarter valued at approximately $125,000.

Insider Buying and Selling

In other news, Director Mark Peek bought 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was bought at an average price of $19.50 per share, for a total transaction of $487,500.00. Following the transaction, the director owned 35,000 shares in the company, valued at $682,500. The trade was a 250.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders purchased 50,000 shares of company stock worth $980,550.

Analyst Ratings Changes

A number of analysts have recently weighed in on MBGL shares. 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 for the company. Weiss Ratings upgraded shares of Mobility Global from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 22nd. Zacks Research raised shares of Mobility Global to a “hold” rating in a report on Thursday, July 30th. Wall Street Zen raised shares of Mobility Global to a “hold” rating in a report on Saturday, July 18th. Finally, Bank of America assumed coverage on shares of Mobility Global in a research note on Friday, August 21st. They set a “neutral” rating and a $23.00 price objective on the stock. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.20.

Mobility Global Stock Performance

Shares of MBGL stock opened at $19.61 on Friday. The company has a market capitalization of $5.80 billion and a PE ratio of 108.94. Mobility Global, Inc. has a one year low of $16.95 and a one year high of $26.00. The stock’s 50-day moving average is $18.98. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.20.

Mobility Global (NYSE:MBGL) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.18 earnings per share for the quarter. The firm had revenue of $468.00 million during the quarter. As a group, research analysts forecast that Mobility Global, Inc. will post 1.52 EPS for the current 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%.

Mobility Global Company 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.