Y Intercept Hong Kong Ltd Makes New $209,000 Investment in Ituran Location and Control Ltd. $ITRN

Y Intercept Hong Kong Ltd acquired a new stake in Ituran Location and Control Ltd. (NASDAQ:ITRN) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 5,391 shares of the industrial products company’s stock, valued at approximately $209,000.

Several other large investors also recently modified their holdings of ITRN. Teacher Retirement System of Texas bought a new position in Ituran Location and Control in the 1st quarter valued at about $262,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Ituran Location and Control during the 2nd quarter worth approximately $293,000. Invst LLC acquired a new stake in shares of Ituran Location and Control during the 1st quarter worth approximately $398,000. Foundations Investment Advisors LLC increased its stake in Ituran Location and Control by 130.7% in the first quarter. Foundations Investment Advisors LLC now owns 16,667 shares of the industrial products company’s stock valued at $603,000 after acquiring an additional 9,442 shares during the last quarter. Finally, IFG Advisory LLC acquired a new position in Ituran Location and Control during the first quarter valued at approximately $1,335,000. 94.80% of the stock is owned by institutional investors and hedge funds.

Ituran Location and Control Stock Performance

Shares of ITRN opened at $38.41 on Friday. The stock has a market capitalization of $763.97 million, a price-to-earnings ratio of 13.77 and a beta of 0.88. Ituran Location and Control Ltd. has a 52-week low of $26.50 and a 52-week high of $45.43. The stock’s 50-day simple moving average is $36.23 and its 200 day simple moving average is $37.29.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings data on Tuesday, August 19th. The industrial products company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.06). Ituran Location and Control had a net margin of 16.35% and a return on equity of 28.24%. The firm had revenue of $86.79 million for the quarter, compared to analysts’ expectations of $89.17 million.

Ituran Location and Control Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Thursday, September 25th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Thursday, September 25th. Ituran Location and Control’s dividend payout ratio is currently 71.68%.

Analyst Ratings Changes

Several analysts recently weighed in on ITRN shares. Wall Street Zen downgraded Ituran Location and Control from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of Ituran Location and Control in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $50.00.

About Ituran Location and Control

Ituran Location and Control Ltd., together with its subsidiaries, provides location based telematics services and machine-to-machine telematics products. It operates through two segments, Telematics Services and Telematics Products. The Telematics services segment offers stolen vehicle recovery and tracking services, which enables to locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and locator services that allow customers to protect valuable merchandise and equipment.