First Manhattan CO. LLC. Increases Stock Position in Mobile Infrastructure Co. (NASDAQ:BEEP)

First Manhattan CO. LLC. raised its stake in shares of Mobile Infrastructure Co. (NASDAQ:BEEP) by 31.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,342 shares of the company’s stock after acquiring an additional 25,291 shares during the quarter. First Manhattan CO. LLC. owned approximately 0.25% of Mobile Infrastructure worth $474,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC acquired a new stake in shares of Mobile Infrastructure during the fourth quarter worth $31,000. Jane Street Group LLC acquired a new stake in shares of Mobile Infrastructure in the 4th quarter worth about $82,000. Two Sigma Securities LLC bought a new position in Mobile Infrastructure in the 4th quarter worth about $85,000. Charles Schwab Investment Management Inc. bought a new position in Mobile Infrastructure in the 4th quarter worth about $101,000. Finally, Citadel Advisors LLC bought a new position in Mobile Infrastructure in the 4th quarter worth about $118,000. 84.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on BEEP shares. B. Riley started coverage on shares of Mobile Infrastructure in a research report on Thursday, January 23rd. They issued a “buy” rating and a $5.00 target price for the company. Maxim Group started coverage on shares of Mobile Infrastructure in a report on Friday, February 21st. They issued a “buy” rating and a $7.00 price objective for the company. Finally, Piper Sandler started coverage on shares of Mobile Infrastructure in a report on Thursday, January 23rd. They issued an “overweight” rating and a $5.00 price objective for the company.

Mobile Infrastructure Stock Performance

Shares of BEEP opened at $4.09 on Monday. The company’s fifty day moving average is $4.03 and its 200-day moving average is $3.80. Mobile Infrastructure Co. has a 12 month low of $2.48 and a 12 month high of $4.86. The firm has a market cap of $173.49 million, a price-to-earnings ratio of -4.54 and a beta of 0.50. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.09.

Mobile Infrastructure (NASDAQ:BEEP) last posted its earnings results 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 last year, the business earned ($0.34) earnings per share. Equities analysts expect that Mobile Infrastructure Co. will post -0.3 EPS for the current fiscal year.

Mobile Infrastructure Profile

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.