Equities researchers at StockNews.com assumed coverage on shares of MiX Telematics (NYSE:MIXT – Get Free Report) in a research report issued to clients and investors on Friday. The firm set a “buy” rating on the technology company’s stock.
Separately, Raymond James lifted their target price on MiX Telematics from $8.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th.
Check Out Our Latest Report on MiX Telematics
MiX Telematics Price Performance
MiX Telematics (NYSE:MIXT – Get Free Report) last released its earnings results on Thursday, February 1st. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). The company had revenue of $39.09 million for the quarter, compared to analysts’ expectations of $37.02 million. MiX Telematics had a net margin of 3.72% and a return on equity of 8.45%. As a group, analysts expect that MiX Telematics will post 0.4 earnings per share for the current year.
Institutional Investors Weigh In On MiX Telematics
A number of institutional investors and hedge funds have recently bought and sold shares of MIXT. FNY Investment Advisers LLC bought a new stake in MiX Telematics during the fourth quarter valued at about $43,000. Black Maple Capital Management LP bought a new stake in shares of MiX Telematics in the fourth quarter worth about $369,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV bought a new stake in shares of MiX Telematics in the fourth quarter worth about $1,753,000. Hsbc Holdings PLC bought a new stake in shares of MiX Telematics in the fourth quarter worth about $1,757,000. Finally, Penn Mutual Asset Management LLC increased its holdings in shares of MiX Telematics by 9.2% in the third quarter. Penn Mutual Asset Management LLC now owns 535,219 shares of the technology company’s stock worth $2,954,000 after purchasing an additional 45,000 shares during the last quarter. 45.72% of the stock is owned by institutional investors.
MiX Telematics Company Profile
MiX Telematics Limited, together with its subsidiaries, provides fleet and mobile asset management solutions through software-as-a-service (SaaS) delivery model. It offers MiX Fleet Manager, a commercial fleet management solution comprising MyMiX, an innovative driver engagement platform; MiX Vision, an on-road and in-vehicle video recording solution; MiX Rovi, an in-vehicle display and communications system; MiX RIBAS and DriveMate, an in-cab driving aid solution; MiX Hours of Service, which allows real-time monitoring and compliance; MiX Journey Management, an easy-to-use electronic alternative to paper-based systems; and MiX OEM Connect allows customer instant, direct integration to relevant, and powerful telematics data.
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