Pekin Hardy Strauss Inc. Acquires 51,939 Shares of Ituran Location and Control Ltd. $ITRN

Pekin Hardy Strauss Inc. increased its holdings in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 29.1% during the third quarter, HoldingsChannel reports. The fund owned 230,308 shares of the industrial products company’s stock after acquiring an additional 51,939 shares during the quarter. Ituran Location and Control accounts for about 0.8% of Pekin Hardy Strauss Inc.’s investment portfolio, making the stock its 27th biggest holding. Pekin Hardy Strauss Inc.’s holdings in Ituran Location and Control were worth $8,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its holdings in Ituran Location and Control by 18.5% during the 2nd quarter. Acadian Asset Management LLC now owns 726,519 shares of the industrial products company’s stock worth $28,097,000 after purchasing an additional 113,594 shares in the last quarter. CSM Advisors LLC bought a new position in shares of Ituran Location and Control in the second quarter valued at approximately $3,731,000. Man Group plc boosted its position in shares of Ituran Location and Control by 90.8% during the second quarter. Man Group plc now owns 137,657 shares of the industrial products company’s stock valued at $5,331,000 after buying an additional 65,502 shares during the last quarter. CWA Asset Management Group LLC grew its holdings in Ituran Location and Control by 212.5% during the third quarter. CWA Asset Management Group LLC now owns 58,864 shares of the industrial products company’s stock worth $2,103,000 after buying an additional 40,027 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its position in Ituran Location and Control by 684.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 42,268 shares of the industrial products company’s stock valued at $1,510,000 after buying an additional 36,877 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Analysts Set New Price Targets

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

Ituran Location and Control Price Performance

Ituran Location and Control stock opened at $48.58 on Friday. The firm has a 50 day moving average price of $44.63 and a 200-day moving average price of $40.04. Ituran Location and Control Ltd. has a twelve month low of $30.06 and a twelve month high of $48.58.

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 analysts’ consensus estimates of $0.68 by $0.06. The firm had revenue of $92.28 million for the quarter, compared to analysts’ expectations of $86.52 million. Ituran Location and Control had a return on equity of 27.68% and a net margin of 16.23%.

Ituran Location and Control Company Profile

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.