Short Interest in Ituran Location and Control Ltd. (NASDAQ:ITRN) Decreases By 30.3%

Ituran Location and Control Ltd. (NASDAQ:ITRN) was the recipient of a significant decrease in short interest in December. As of December 15th, there was short interest totaling 104,354 shares, a decrease of 30.3% from the November 30th total of 149,818 shares. Based on an average daily volume of 129,718 shares, the short-interest ratio is currently 0.8 days. Based on an average daily volume of 129,718 shares, the short-interest ratio is currently 0.8 days.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ITRN. Weiss Ratings reissued a “buy (b)” rating on shares of Ituran Location and Control in a report on Monday, December 22nd. Wall Street Zen raised Ituran Location and Control from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $50.00.

Ituran Location and Control Stock Down 1.8%

Shares of ITRN stock traded down $0.76 on Monday, hitting $42.62. 186,703 shares of the stock were exchanged, compared to its average volume of 109,915. Ituran Location and Control has a fifty-two week low of $29.71 and a fifty-two week high of $45.43. The business has a 50-day moving average of $39.99 and a 200 day moving average of $38.29.

Ituran Location and Control (NASDAQ:ITRN) last released its 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. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 29th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Monday, December 29th. Ituran Location and Control’s dividend payout ratio is currently 70.42%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ITRN. Advisory Services Network LLC bought a new stake in Ituran Location and Control during the third quarter worth $28,000. Assetmark Inc. acquired a new position in shares of Ituran Location and Control during the 2nd quarter worth about $37,000. AdvisorNet Financial Inc raised its holdings in shares of Ituran Location and Control by 148.9% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,120 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 670 shares during the period. Jones Financial Companies Lllp lifted its stake in Ituran Location and Control by 327.2% in the 1st quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 939 shares during the last quarter. Finally, Covestor Ltd acquired a new stake in Ituran Location and Control in the 3rd quarter valued at about $47,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

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.