National Asset Management Inc. decreased its position in shares of Sito Mobile Ltd (NASDAQ:SITO) by 56.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 220,442 shares of the Wireless communications provider’s stock after selling 291,558 shares during the period. National Asset Management Inc. owned about 0.87% of Sito Mobile worth $393,000 as of its most recent filing with the Securities and Exchange Commission.
Separately, Laurel Wealth Advisors Inc. acquired a new stake in shares of Sito Mobile during the second quarter worth approximately $1,830,000. Institutional investors and hedge funds own 15.48% of the company’s stock.
Several research firms have recently commented on SITO. ValuEngine raised shares of Sito Mobile from a “sell” rating to a “hold” rating in a research note on Saturday, August 18th. Lake Street Capital decreased their price target on shares of Sito Mobile from $4.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, August 21st. Finally, Zacks Investment Research raised shares of Sito Mobile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Sito Mobile has a consensus rating of “Buy” and a consensus target price of $7.88.
Sito Mobile (NASDAQ:SITO) last released its quarterly earnings results on Friday, November 16th. The Wireless communications provider reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.02). Sito Mobile had a negative net margin of 52.84% and a negative return on equity of 130.46%. The company had revenue of $9.06 million for the quarter. On average, analysts anticipate that Sito Mobile Ltd will post -0.44 EPS for the current fiscal year.
About Sito Mobile
SITO Mobile, Ltd. provides advertisement delivery, measurement and attribution, and consumer insights using its proprietary location-based marketing intelligence platform in the United States and Canada. It offers Ad Placement, which delivers advertisements on behalf of its customers to audiences of existing and prospective consumers in a privacy compliant manner; and advertisements across television, desktop, social media, and digital out of home platforms.
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