MiX Telematics (NYSE:MIXT) Research Coverage Started at StockNews.com

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

Separately, Zacks Investment Research raised MiX Telematics from a “sell” rating to a “hold” rating in a research report on Wednesday, April 6th.

MIXT opened at $10.23 on Friday. MiX Telematics has a 1 year low of $9.40 and a 1 year high of $16.79. The stock has a fifty day moving average price of $10.44 and a 200 day moving average price of $11.29. The stock has a market cap of $247.64 million, a price-to-earnings ratio of 24.95 and a beta of 0.85.

MiX Telematics (NYSE:MIXTGet Rating) last announced its quarterly earnings results on Thursday, May 26th. The technology company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. MiX Telematics had a return on equity of 7.27% and a net margin of 6.24%. The company had revenue of $36.11 million during the quarter, compared to analysts’ expectations of $36.14 million. As a group, research analysts forecast that MiX Telematics will post 0.41 earnings per share for the current year.

In other MiX Telematics news, Director Ian Jacobs acquired 5,934,825 shares of the business’s stock in a transaction that occurred on Friday, March 18th. The stock was acquired at an average price of $0.48 per share, with a total value of $2,848,716.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Paul M. Dell sold 79,124 shares of the business’s stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $0.49, for a total value of $38,770.76. The disclosure for this sale can be found here. In the last three months, insiders have purchased 8,890,800 shares of company stock valued at $4,251,162 and have sold 119,452 shares valued at $58,531. 23.40% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE increased its stake in MiX Telematics by 36.5% during the fourth quarter. Bank of America Corp DE now owns 4,100 shares of the technology company’s stock valued at $52,000 after acquiring an additional 1,096 shares during the period. BlackRock Inc. increased its stake in MiX Telematics by 24.6% during the third quarter. BlackRock Inc. now owns 7,412 shares of the technology company’s stock valued at $91,000 after acquiring an additional 1,462 shares during the period. Morgan Stanley increased its stake in MiX Telematics by 1,436.5% during the third quarter. Morgan Stanley now owns 12,661 shares of the technology company’s stock valued at $156,000 after acquiring an additional 11,837 shares during the period. Citadel Advisors LLC increased its stake in MiX Telematics by 157.4% during the third quarter. Citadel Advisors LLC now owns 14,156 shares of the technology company’s stock valued at $174,000 after acquiring an additional 8,656 shares during the period. Finally, Envestnet Asset Management Inc. bought a new position in MiX Telematics during the first quarter valued at about $175,000.

About MiX Telematics (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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