Mobico Group (LON:MCG) Shares Climb 9.2% – Here’s Why

Mobico Group Plc (LON:MCG) traded up 9.2% on Friday. The company traded as high as GBX 24 and last traded at GBX 23.80. Approximately 4,674,613 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 7,698,854 shares. The stock had previously closed at GBX 21.80.

Analysts Set New Price Targets

A number of equities analysts have commented on MCG shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 70 price target on shares of Mobico Group in a research note on Wednesday, July 29th. Berenberg Bank reiterated a “hold” rating and set a GBX 35 price target on shares of Mobico Group in a report on Tuesday, September 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Mobico Group presently has an average rating of “Hold” and an average price target of GBX 43.33.

Mobico Group Trading Up 9.2%

The company’s fifty day simple moving average is GBX 24.10 and its 200 day simple moving average is GBX 23.37. The firm has a market capitalization of £145.00 million, a P/E ratio of -0.46 and a beta of 1.31.

Mobico Group (LON:MCG) last released its quarterly earnings results on Wednesday, July 29th. The company reported GBX (22.62) earnings per share (EPS) for the quarter. Mobico Group had a positive return on equity of 160.47% and a negative net margin of 10.75%. On average, analysts predict that Mobico Group Plc will post 14.0227704 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Phil White sold 213,197 shares of Mobico Group stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of GBX 31, for a total transaction of £66,091.07. Also, insider Brian Egan sold 89,470 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of GBX 31, for a total transaction of £27,735.70. 2.25% of the stock is currently owned by corporate insiders.

About Mobico Group

Mobico Group is a leading international transport operator, diversified internationally and by business area; with operations in North America, continental Europe, the UK and North Africa.

We provide safe, efficient, clean and reliable shared mobility solutions to cities, businesses, education, healthcare and customers.

We are internationally diversified with a balanced portfolio of high quality contracts and market-leading customer brands.

We help millions of people around the world every day, getting them safely and reliably to work, school, to family and friends.

We are leveraging our network economies to shape the future of multi-modal transport.