StockNews.com Initiates Coverage on MiX Telematics (NYSE:MIXT)

Equities researchers at StockNews.com assumed coverage on shares of MiX Telematics (NYSE:MIXT) in a research report issued to clients and investors on Saturday. The brokerage set a “buy” rating on the technology company’s stock.

Separately, Raymond James upped their target price on shares of MiX Telematics from $8.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th.

MiX Telematics Trading Up 2.5 %

Shares of NYSE:MIXT opened at $14.55 on Friday. MiX Telematics has a 12-month low of $4.75 and a 12-month high of $14.85. The company has a market cap of $353.75 million, a PE ratio of 58.20 and a beta of 1.15. The stock has a 50 day moving average of $13.05 and a 200 day moving average of $9.36.

MiX Telematics (NYSE:MIXT) last posted its quarterly earnings results on Thursday, February 1st. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The firm had revenue of $39.09 million during the quarter, compared to the consensus estimate of $37.02 million. MiX Telematics had a return on equity of 8.45% and a net margin of 3.72%. Equities research analysts predict that MiX Telematics will post 0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MIXT. Penn Mutual Asset Management LLC raised its position in shares of MiX Telematics by 9.2% during the third quarter. Penn Mutual Asset Management LLC now owns 535,219 shares of the technology company’s stock valued at $2,954,000 after buying an additional 45,000 shares during the last quarter. Kopion Asset Management LLC increased its holdings in MiX Telematics by 5.6% in the 4th quarter. Kopion Asset Management LLC now owns 1,025,321 shares of the technology company’s stock valued at $8,828,000 after acquiring an additional 53,963 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in MiX Telematics in the 4th quarter valued at $43,000. Hsbc Holdings PLC purchased a new stake in MiX Telematics in the 4th quarter worth $1,757,000. Finally, Harber Asset Management LLC boosted its holdings in shares of MiX Telematics by 6.6% during the 4th quarter. Harber Asset Management LLC now owns 703,202 shares of the technology company’s stock valued at $6,055,000 after purchasing an additional 43,436 shares during the last quarter. 45.72% of the stock is 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.