Y Intercept Hong Kong Ltd Boosts Holdings in Ituran Location and Control Ltd. $ITRN

Y Intercept Hong Kong Ltd grew its stake in Ituran Location and Control Ltd. (NASDAQ:ITRN) by 684.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,268 shares of the industrial products company’s stock after buying 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.

Other institutional investors also recently bought and sold shares of the company. Stratos Wealth Partners LTD. acquired a new position in shares of Ituran Location and Control in the 2nd quarter valued at $293,000. CWA Asset Management Group LLC raised its position in shares of Ituran Location and Control by 212.5% in 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 acquiring an additional 40,027 shares during the period. Aristides Capital LLC boosted its stake in shares of Ituran Location and Control by 11.9% during 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 acquired a new stake in shares of Ituran Location and Control during the 2nd quarter valued at about $3,731,000. Finally, Acadian Asset Management LLC increased its stake in shares of Ituran Location and Control by 18.5% in the 2nd 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 hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Ituran Location and Control Stock Down 1.7%

Shares of NASDAQ:ITRN opened at $44.63 on Friday. Ituran Location and Control Ltd. has a 1 year low of $30.06 and a 1 year high of $45.90. The business’s 50 day moving average price is $43.03 and its 200-day moving average price is $39.34.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. Ituran Location and Control had a return on equity of 27.68% and a net margin of 16.23%.The company had revenue of $92.28 million for the quarter, compared to analyst estimates of $86.52 million.

Ituran Location and Control Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 29th were given a dividend of $0.50 per share. The ex-dividend date 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 payout ratio is presently 70.42%.

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.