MiX Telematics (NYSE:MIXT) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of MiX Telematics (NYSE:MIXTGet Rating) in a report issued on Thursday. The firm set a “buy” rating on the technology company’s stock.

Other research analysts have also issued research reports about the company. Raymond James reduced their price target on MiX Telematics from $18.00 to $16.00 and set a “strong-buy” rating for the company in a research report on Friday, February 4th. Canaccord Genuity Group boosted their price target on MiX Telematics from $21.00 to $22.00 in a research report on Friday, February 4th. Zacks Investment Research upgraded MiX Telematics from a “sell” rating to a “hold” rating in a research report on Wednesday, April 6th. TheStreet lowered MiX Telematics from a “b-” rating to a “c+” rating in a report on Thursday, February 3rd. Finally, Canaccord Genuity Group upped their price objective on MiX Telematics from $21.00 to $22.00 in a report on Friday, February 4th.

Shares of MIXT opened at $9.81 on Thursday. MiX Telematics has a 12 month low of $9.40 and a 12 month high of $16.79. The stock has a fifty day moving average price of $10.63 and a 200 day moving average price of $11.36. The company has a market cap of $237.47 million, a P/E ratio of 23.93 and a beta of 0.85.

In other news, Director Ian Jacobs bought 114,100 shares of the company’s stock in a transaction on Friday, March 11th. The shares were bought at an average cost of $0.48 per share, with a total value of $54,768.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Catherine J. Lewis sold 69,778 shares of the company’s stock in a transaction dated Thursday, March 10th. The stock was sold at an average price of $0.49, for a total value of $34,191.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 8,836,250 shares of company stock valued at $4,241,050 and have sold 189,230 shares valued at $92,723. Corporate insiders own 23.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its position in shares of MiX Telematics by 36.5% in the 4th quarter. Bank of America Corp DE now owns 4,100 shares of the technology company’s stock worth $52,000 after acquiring an additional 1,096 shares during the period. BlackRock Inc. lifted its position in shares of MiX Telematics by 24.6% in the 3rd quarter. BlackRock Inc. now owns 7,412 shares of the technology company’s stock worth $91,000 after acquiring an additional 1,462 shares during the period. Morgan Stanley raised its holdings in shares of MiX Telematics by 1,436.5% in the 3rd quarter. Morgan Stanley now owns 12,661 shares of the technology company’s stock worth $156,000 after buying an additional 11,837 shares in the last quarter. Citadel Advisors LLC raised its holdings in shares of MiX Telematics by 157.4% in the 3rd quarter. Citadel Advisors LLC now owns 14,156 shares of the technology company’s stock worth $174,000 after buying an additional 8,656 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in shares of MiX Telematics in the 1st quarter worth approximately $175,000.

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.

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