Ituran Location and Control Ltd. (NASDAQ:ITRN) Short Interest Update

Ituran Location and Control Ltd. (NASDAQ:ITRN) saw a large growth in short interest in January. As of January 15th, there was short interest totaling 168,167 shares, a growth of 40.7% from the December 31st total of 119,556 shares. Based on an average daily trading volume, of 119,964 shares, the short-interest ratio is presently 1.4 days. Based on an average daily trading volume, of 119,964 shares, the short-interest ratio is presently 1.4 days.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ITRN shares. Wall Street Zen upgraded shares of Ituran Location and Control from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Ituran Location and Control in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $50.00.

Ituran Location and Control Trading Up 1.9%

Shares of ITRN opened at $45.46 on Tuesday. The company has a 50-day moving average of $43.14 and a two-hundred day moving average of $39.40. Ituran Location and Control has a one year low of $30.06 and a one year high of $45.90.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings results on Tuesday, November 18th. The industrial products company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.68 by $0.06. Ituran Location and Control had a net margin of 16.23% and a return on equity of 27.68%. The business had revenue of $92.28 million during the quarter, compared to the consensus estimate of $86.52 million.

Ituran Location and Control Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 29th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, December 29th. Ituran Location and Control’s dividend payout ratio (DPR) is 70.42%.

Institutional Investors Weigh In On Ituran Location and Control

Hedge funds have recently bought and sold shares of the business. Ibex Investors LLC grew its stake in Ituran Location and Control by 2.3% during the 3rd quarter. Ibex Investors LLC now owns 896,313 shares of the industrial products company’s stock valued at $32,016,000 after acquiring an additional 20,000 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in shares of Ituran Location and Control by 4.9% during the fourth quarter. Y.D. More Investments Ltd now owns 858,274 shares of the industrial products company’s stock worth $37,236,000 after purchasing an additional 39,718 shares during the period. Acadian Asset Management LLC grew its position in Ituran Location and Control by 18.5% during the second quarter. Acadian Asset Management LLC now owns 726,519 shares of the industrial products company’s stock valued at $28,097,000 after purchasing an additional 113,594 shares in the last quarter. Aristides Capital LLC grew its position in Ituran Location and Control by 21.9% during the third quarter. Aristides Capital LLC now owns 280,395 shares of the industrial products company’s stock valued at $10,016,000 after purchasing an additional 50,421 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. increased its stake in Ituran Location and Control by 29.1% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 230,308 shares of the industrial products company’s stock valued at $8,227,000 after buying an additional 51,939 shares during the period. 94.80% of the stock is owned by hedge funds and other institutional investors.

About Ituran Location and Control

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.