Pacer Advisors Inc. Takes $15.29 Million Position in Mobileye Global Inc. $MBLY

Pacer Advisors Inc. acquired a new stake in shares of Mobileye Global Inc. (NASDAQ:MBLY) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,464,566 shares of the company’s stock, valued at approximately $15,290,000. Pacer Advisors Inc. owned 0.17% of Mobileye Global as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. IFP Advisors Inc boosted its stake in Mobileye Global by 465.7% in the 3rd quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after purchasing an additional 1,495 shares during the period. Rhumbline Advisers bought a new stake in shares of Mobileye Global during the first quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Mobileye Global in the second quarter worth about $31,000. Financial Management Professionals Inc. purchased a new stake in shares of Mobileye Global in the fourth quarter worth about $32,000. Finally, Leonteq Securities AG bought a new position in shares of Mobileye Global in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 13.25% of the company’s stock.

Mobileye Global Stock Performance

MBLY stock opened at $8.46 on Friday. The company’s 50 day moving average is $9.19 and its 200 day moving average is $9.34. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of -1.68 and a beta of 1.15. Mobileye Global Inc. has a 1-year low of $6.47 and a 1-year high of $20.18.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $558.00 million during the quarter, compared to analysts’ expectations of $519.34 million. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. The business’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.08 EPS. As a group, sell-side analysts forecast that Mobileye Global Inc. will post -0.09 EPS for the current fiscal year.

Mobileye Global declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 23rd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently commented on MBLY shares. Jefferies Financial Group assumed coverage on shares of Mobileye Global in a research note on Monday, May 18th. They set an “underperform” rating and a $8.00 price objective for the company. Berenberg Bank downgraded shares of Mobileye Global from a “buy” rating to a “hold” rating and set a $10.80 price target for the company. in a report on Thursday, May 21st. Mizuho boosted their price target on shares of Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. UBS Group upped their price target on shares of Mobileye Global from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Finally, Zacks Research raised shares of Mobileye Global from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.77.

Mobileye Global Company Profile

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.