StockNews.com assumed coverage on shares of MiX Telematics (NYSE:MIXT – Free Report) in a research note issued to investors on Tuesday morning. The firm issued a buy rating on the technology company’s stock.
Separately, Raymond James reduced their price target on MiX Telematics from $10.00 to $8.00 and set an outperform rating for the company in a research report on Thursday, November 9th.
MiX Telematics Trading Up 1.6 %
MiX Telematics (NYSE:MIXT – Get Free Report) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.09). MiX Telematics had a return on equity of 8.47% and a net margin of 3.72%. The business had revenue of $37.76 million for the quarter, compared to the consensus estimate of $36.03 million. Analysts predict that MiX Telematics will post 0.4 EPS for the current fiscal year.
MiX Telematics Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Friday, February 23rd will be given a dividend of $0.0603 per share. This represents a $0.24 annualized dividend and a yield of 2.55%. The ex-dividend date is Thursday, February 22nd. MiX Telematics’s payout ratio is 72.00%.
Hedge Funds Weigh In On MiX Telematics
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in MiX Telematics by 7.9% during the first quarter. Royal Bank of Canada now owns 17,248 shares of the technology company’s stock worth $193,000 after purchasing an additional 1,263 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in MiX Telematics by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 107,768 shares of the technology company’s stock worth $1,210,000 after purchasing an additional 1,881 shares during the last quarter. State Street Corp lifted its stake in MiX Telematics by 13.1% during the second quarter. State Street Corp now owns 18,857 shares of the technology company’s stock worth $119,000 after purchasing an additional 2,184 shares during the last quarter. Bank of America Corp DE lifted its stake in MiX Telematics by 105.8% during the first quarter. Bank of America Corp DE now owns 6,175 shares of the technology company’s stock worth $48,000 after purchasing an additional 3,175 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in MiX Telematics by 6.3% during the second quarter. Acadian Asset Management LLC now owns 59,552 shares of the technology company’s stock worth $371,000 after purchasing an additional 3,516 shares during the last quarter. 40.29% of the stock is currently owned by hedge funds and other 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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