Pinnacle Associates Ltd. Grows Stock Holdings in MiX Telematics Ltd – (NYSE:MIXT)

Pinnacle Associates Ltd. boosted its holdings in MiX Telematics Ltd – (NYSE:MIXT) by 1.3% in the second quarter, Holdings Channel reports. The institutional investor owned 175,030 shares of the technology company’s stock after acquiring an additional 2,325 shares during the quarter. Pinnacle Associates Ltd.’s holdings in MiX Telematics were worth $2,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Quantum Capital Management grew its stake in MiX Telematics by 0.7% in the 1st quarter. Quantum Capital Management now owns 207,184 shares of the technology company’s stock valued at $3,454,000 after buying an additional 1,408 shares in the last quarter. Aperio Group LLC bought a new position in MiX Telematics in the 2nd quarter valued at $53,000. Gabelli Funds LLC boosted its holdings in MiX Telematics by 18.3% in the 2nd quarter. Gabelli Funds LLC now owns 31,066 shares of the technology company’s stock valued at $467,000 after purchasing an additional 4,806 shares during the period. Dimensional Fund Advisors LP boosted its holdings in MiX Telematics by 6.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 110,383 shares of the technology company’s stock valued at $1,724,000 after purchasing an additional 6,346 shares during the period. Finally, Campbell & CO Investment Adviser LLC boosted its holdings in MiX Telematics by 70.6% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 18,449 shares of the technology company’s stock valued at $308,000 after purchasing an additional 7,637 shares during the period. Institutional investors and hedge funds own 39.66% of the company’s stock.

NYSE:MIXT traded up $0.06 during trading hours on Thursday, hitting $14.20. The stock had a trading volume of 292 shares, compared to its average volume of 123,688. The company has a 50 day simple moving average of $14.97 and a two-hundred day simple moving average of $16.61. MiX Telematics Ltd – has a one year low of $13.01 and a one year high of $20.07. The firm has a market capitalization of $324.88 million, a price-to-earnings ratio of 18.93, a P/E/G ratio of 0.67 and a beta of 0.74.

MiX Telematics (NYSE:MIXT) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.19 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. MiX Telematics had a net margin of 12.47% and a return on equity of 15.23%. The firm had revenue of $521.70 million during the quarter, compared to the consensus estimate of $513.93 million. During the same period last year, the firm earned $0.08 EPS. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. Research analysts predict that MiX Telematics Ltd – will post 0.85 EPS for the current year.

The company also recently declared a dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 23rd will be issued a $0.051 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. MiX Telematics’s payout ratio is 28.00%.

Several brokerages have commented on MIXT. Zacks Investment Research raised shares of MiX Telematics from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Tuesday, August 6th. ValuEngine downgraded shares of MiX Telematics from a “hold” rating to a “sell” rating in a report on Tuesday, June 4th.

About MiX Telematics

MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles.

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Institutional Ownership by Quarter for MiX Telematics (NYSE:MIXT)

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