Northern Trust Corp Purchases 32,995 Shares of Mobile Infrastructure Co. (NASDAQ:BEEP)

Northern Trust Corp increased its position in shares of Mobile Infrastructure Co. (NASDAQ:BEEP) by 116.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,419 shares of the company’s stock after purchasing an additional 32,995 shares during the period. Northern Trust Corp owned 0.15% of Mobile Infrastructure worth $276,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BEEP. Barclays PLC bought a new stake in shares of Mobile Infrastructure during the 4th quarter valued at $31,000. Two Sigma Securities LLC bought a new stake in shares of Mobile Infrastructure during the 4th quarter valued at $85,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Mobile Infrastructure during the 4th quarter valued at $101,000. Concorde Asset Management LLC raised its position in shares of Mobile Infrastructure by 12.9% during the 4th quarter. Concorde Asset Management LLC now owns 64,518 shares of the company’s stock valued at $290,000 after purchasing an additional 7,354 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Mobile Infrastructure by 32.5% during the 4th quarter. Geode Capital Management LLC now owns 375,584 shares of the company’s stock valued at $1,691,000 after purchasing an additional 92,110 shares during the period. 84.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BEEP shares. Barrington Research set a $6.50 price objective on shares of Mobile Infrastructure and gave the company an “outperform” rating in a research report on Monday, May 19th. Maxim Group started coverage on shares of Mobile Infrastructure in a research report on Friday, February 21st. They set a “buy” rating and a $7.00 price objective on the stock.

Mobile Infrastructure Trading Down 1.5%

Mobile Infrastructure stock opened at $3.96 on Monday. The stock has a market cap of $167.90 million, a P/E ratio of -4.40 and a beta of 0.50. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.10 and a quick ratio of 0.10. Mobile Infrastructure Co. has a 1 year low of $2.48 and a 1 year high of $4.86. The firm’s 50 day moving average price is $4.06 and its 200-day moving average price is $3.88.

Mobile Infrastructure (NASDAQ:BEEP) last released its quarterly earnings data on Monday, March 10th. The company reported ($0.03) earnings per share (EPS) for the quarter. Mobile Infrastructure had a negative net margin of 24.59% and a negative return on equity of 4.36%. During the same quarter in the prior year, the firm posted ($0.34) EPS. On average, equities analysts predict that Mobile Infrastructure Co. will post -0.3 earnings per share for the current fiscal year.

About Mobile Infrastructure

Mobile Infrastructure Corporation is a Maryland corporation. The Company owns a diversified portfolio of parking assets primarily located in the Midwest and Southwest. As of December 31, 2023, the Company owned 43 parking facilities in 21 separate markets throughout the United States, with a total of 15,700 parking spaces and approximately 5.4 million square feet.