Y Intercept Hong Kong Ltd Acquires New Shares in Ituran Location and Control Ltd. $ITRN

by · The Markets Daily

Y Intercept Hong Kong Ltd bought a new stake in Ituran Location and Control Ltd. (NASDAQ:ITRN – Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 29,599 shares of the industrial products company’s stock, valued at approximately $1,451,000. Y Intercept Hong Kong Ltd owned about 0.15% of Ituran Location and Control as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Y.D. More Investments Ltd boosted its stake in shares of Ituran Location and Control by 4.9% in the 4th quarter. Y.D. More Investments Ltd now owns 858,274 shares of the industrial products company’s stock valued at $37,236,000 after purchasing an additional 39,718 shares in the last quarter. J.M. Arbour LLC acquired a new position in Ituran Location and Control during the 4th quarter worth approximately $881,000. CSM Advisors LLC lifted its stake in Ituran Location and Control by 30.2% in the 3rd quarter. CSM Advisors LLC now owns 125,435 shares of the industrial products company’s stock valued at $4,480,000 after purchasing an additional 29,090 shares during the last quarter. Total Wealth Planning & Management Inc. bought a new position in Ituran Location and Control in the 4th quarter valued at approximately $689,000. Finally, Rice Hall James & Associates LLC boosted its position in Ituran Location and Control by 7.0% in the fourth quarter. Rice Hall James & Associates LLC now owns 528,164 shares of the industrial products company’s stock valued at $22,716,000 after buying an additional 34,550 shares in the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. UBS Group reaffirmed a “buy” rating on shares of Ituran Location and Control in a research note on Wednesday, May 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ituran Location and Control in a research note on Friday, March 27th. Zacks Research raised Ituran Location and Control to a “hold” rating in a report on Thursday, May 28th. Finally, Wall Street Zen upgraded Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 2nd. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

Get Our Latest Analysis on Ituran Location and Control

Ituran Location and Control Price Performance

NASDAQ ITRN traded down $0.28 during trading hours on Friday, reaching $56.00. The company’s stock had a trading volume of 154,167 shares, compared to its average volume of 140,785. The firm has a fifty day simple moving average of $61.27 and a 200-day simple moving average of $52.83. Ituran Location and Control Ltd. has a 52 week low of $32.71 and a 52 week high of $68.30. The stock has a market cap of $1.11 billion, a P/E ratio of 18.48 and a beta of 0.77.

Ituran Location and Control (NASDAQ:ITRN – Get Free Report) last posted its earnings results on Tuesday, May 26th. The industrial products company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. Ituran Location and Control had a net margin of 16.03% and a return on equity of 27.70%. The firm had revenue of $102.67 million for the quarter, compared to analyst estimates of $95.32 million. On average, research analysts expect that Ituran Location and Control Ltd. will post 3.5 earnings per share for the current year.

Ituran Location and Control Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 24th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $2.00 annualized dividend and a dividend yield of 3.6%. Ituran Location and Control’s payout ratio is currently 66.01%.

About Ituran Location and Control

(Free Report)

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.

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