Pinnacle Associates Ltd. Has $1.38 Million Stock Holdings in MiX Telematics Limited (NYSE:MIXT)

Pinnacle Associates Ltd. lowered its stake in shares of MiX Telematics Limited (NYSE:MIXTGet Rating) by 23.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 109,005 shares of the technology company’s stock after selling 32,580 shares during the period. Pinnacle Associates Ltd. owned approximately 0.45% of MiX Telematics worth $1,375,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bank of America Corp DE raised its holdings in MiX Telematics by 62.9% during the 2nd quarter. Bank of America Corp DE now owns 3,884 shares of the technology company’s stock valued at $64,000 after acquiring an additional 1,500 shares during the period. BlackRock Inc. grew its position in MiX Telematics by 24.6% in the third quarter. BlackRock Inc. now owns 7,412 shares of the technology company’s stock worth $91,000 after acquiring an additional 1,462 shares in the last quarter. Morgan Stanley grew its position in MiX Telematics by 1,436.5% in the third quarter. Morgan Stanley now owns 12,661 shares of the technology company’s stock worth $156,000 after acquiring an additional 11,837 shares in the last quarter. Citadel Advisors LLC lifted its stake in MiX Telematics by 157.4% in the third quarter. Citadel Advisors LLC now owns 14,156 shares of the technology company’s stock worth $174,000 after purchasing an additional 8,656 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in MiX Telematics by 33.0% in the third quarter. Royal Bank of Canada now owns 15,813 shares of the technology company’s stock worth $195,000 after purchasing an additional 3,922 shares during the last quarter. Institutional investors and hedge funds own 36.66% of the company’s stock.

MIXT has been the subject of a number of recent analyst reports. Raymond James decreased their price objective on shares of MiX Telematics from $18.00 to $16.00 and set a “strong-buy” rating for the company in a report on Friday, February 4th. Canaccord Genuity Group boosted their price objective on shares of MiX Telematics from $21.00 to $22.00 in a research report on Friday, February 4th. Zacks Investment Research upgraded shares of MiX Telematics from a “sell” rating to a “hold” rating in a research note on Wednesday, April 6th. TheStreet cut shares of MiX Telematics from a “b-” rating to a “c+” rating in a research note on Thursday, February 3rd. Finally, Canaccord Genuity Group boosted their price target on shares of MiX Telematics from $21.00 to $22.00 in a research note on Friday, February 4th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $19.00.

In related news, EVP Catherine J. Lewis sold 69,778 shares of the firm’s stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of $0.49, for a total transaction of $34,191.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ian Jacobs purchased 250,000 shares of the firm’s stock in a transaction on Monday, February 14th. The stock was bought at an average price of $0.48 per share, for a total transaction of $120,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 11,465,275 shares of company stock valued at $5,461,914 and have sold 312,795 shares valued at $153,270. 23.40% of the stock is currently owned by corporate insiders.

MIXT stock opened at $11.04 on Monday. The stock has a market cap of $268.34 million, a price-to-earnings ratio of 29.84 and a beta of 0.89. The firm’s 50 day moving average price is $11.83. MiX Telematics Limited has a one year low of $10.49 and a one year high of $16.79.

MiX Telematics (NYSE:MIXTGet Rating) last posted its quarterly earnings data on Thursday, February 3rd. The technology company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). MiX Telematics had a return on equity of 8.27% and a net margin of 5.83%. The company had revenue of $36.21 million for the quarter, compared to analysts’ expectations of $35.26 million. As a group, equities research analysts predict that MiX Telematics Limited will post 0.37 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 3rd. Stockholders of record on Friday, February 25th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, February 24th. This represents a $0.20 annualized dividend and a dividend yield of 1.81%. MiX Telematics’s dividend payout ratio (DPR) is 51.35%.

MiX Telematics Company Profile (Get Rating)

MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service (Saas) delivery model. The company offers MiX Fleet Manager, a web-based application, which provides commercial fleet management solution that gives user live and historical views of driver and vehicle performance information, including vehicle tracking and status information, as well as alerts and notifications; MiX Asset Manager, a portfolio of asset tracking products comprising generators, light towers, storage tanks, and pumps; and Matrix, a mobile asset management solutions that offers real-time and historical vehicle tracking and positioning, unauthorized vehicle use alerts, panic emergency response, crash alerts, driver behavior alerts, fuel tax logbooks, and vehicle maintenance notifications for entry-level fleets and consumers.

Further Reading

Want to see what other hedge funds are holding MIXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MiX Telematics Limited (NYSE:MIXTGet Rating).

Institutional Ownership by Quarter for MiX Telematics (NYSE:MIXT)

Receive News & Ratings for MiX Telematics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MiX Telematics and related companies with MarketBeat.com's FREE daily email newsletter.