Y Intercept Hong Kong Ltd Increases Stake in Ituran Location and Control Ltd. $ITRN

Y Intercept Hong Kong Ltd lifted its position in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 684.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,268 shares of the industrial products company’s stock after acquiring an additional 36,877 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Ituran Location and Control were worth $1,510,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ITRN. Stratos Wealth Partners LTD. purchased a new position in Ituran Location and Control during the second quarter valued at approximately $293,000. CWA Asset Management Group LLC increased its holdings in shares of Ituran Location and Control by 212.5% in the 3rd quarter. CWA Asset Management Group LLC now owns 58,864 shares of the industrial products company’s stock valued at $2,103,000 after acquiring an additional 40,027 shares during the period. Aristides Capital LLC raised its position in shares of Ituran Location and Control by 11.9% in the 2nd quarter. Aristides Capital LLC now owns 229,974 shares of the industrial products company’s stock worth $8,907,000 after acquiring an additional 24,370 shares in the last quarter. CSM Advisors LLC purchased a new stake in shares of Ituran Location and Control during the 2nd quarter worth $3,731,000. Finally, Acadian Asset Management LLC boosted 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. 94.80% of the stock is currently owned by institutional investors.

Ituran Location and Control Stock Performance

Shares of Ituran Location and Control stock opened at $44.63 on Friday. Ituran Location and Control Ltd. has a 12-month low of $30.06 and a 12-month high of $45.90. The firm’s 50 day simple moving average is $43.03 and its two-hundred day simple moving average is $39.34.

Ituran Location and Control (NASDAQ:ITRN) last released its earnings results on Tuesday, November 18th. The industrial products company reported $0.74 earnings per share (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 the consensus estimate 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 29th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a $2.00 dividend on an annualized basis and a yield of 4.5%. Ituran Location and Control’s dividend payout ratio (DPR) is currently 70.42%.

Analyst Ratings Changes

ITRN has been the subject of a number of recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Ituran Location and Control in a report on Monday, December 29th. Wall Street Zen upgraded shares of Ituran Location and Control from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $50.00.

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.