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

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

Ituran Location and Control Stock Performance

NASDAQ:ITRN traded down $0.76 during mid-day trading on Monday, hitting $42.62. 186,703 shares of the stock were exchanged, compared to its average volume of 109,915. The firm’s 50-day simple moving average is $39.99 and its 200 day simple moving average is $38.29. Ituran Location and Control has a fifty-two week low of $29.71 and a fifty-two week high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last posted its earnings results on Tuesday, November 18th. The industrial products company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.06. The company had revenue of $92.28 million during 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 disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 29th will be paid a $0.50 dividend. The ex-dividend date is Monday, December 29th. This represents a $2.00 annualized dividend and a yield of 4.7%. Ituran Location and Control’s payout ratio is 70.42%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

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