MiX Telematics (NYSE:MIXT) Upgraded by ValuEngine to Sell

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ValuEngine upgraded shares of MiX Telematics (NYSE:MIXT) from a strong sell rating to a sell rating in a research report sent to investors on Thursday, ValuEngine reports.

Separately, Zacks Investment Research lowered shares of MiX Telematics from a buy rating to a hold rating in a report on Wednesday, October 2nd.

NYSE:MIXT traded up $0.16 on Thursday, reaching $13.13. The stock had a trading volume of 672 shares, compared to its average volume of 50,485. The company has a market cap of $303.25 million, a price-to-earnings ratio of 17.57, a P/E/G ratio of 0.63 and a beta of 0.82. The firm’s fifty day moving average is $13.94 and its two-hundred day moving average is $15.52. MiX Telematics has a 12-month low of $12.88 and a 12-month high of $20.07.

MiX Telematics (NYSE:MIXT) last released its earnings results on Thursday, August 1st. The technology company reported $0.19 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.19. The company had revenue of $521.70 million for the quarter, compared to analyst estimates of $513.93 million. MiX Telematics had a net margin of 12.47% and a return on equity of 15.23%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. As a group, analysts anticipate that MiX Telematics will post 0.85 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. Granite Investment Partners LLC raised its holdings in MiX Telematics by 86.6% in the first quarter. Granite Investment Partners LLC now owns 64,133 shares of the technology company’s stock valued at $1,069,000 after buying an additional 29,769 shares during the period. Marshall Wace LLP raised its holdings in MiX Telematics by 379.1% in the first quarter. Marshall Wace LLP now owns 162,955 shares of the technology company’s stock valued at $2,717,000 after buying an additional 128,941 shares during the period. Cortina Asset Management LLC raised its holdings in MiX Telematics by 105.3% in the second quarter. Cortina Asset Management LLC now owns 326,846 shares of the technology company’s stock valued at $4,912,000 after buying an additional 167,635 shares during the period. Aperio Group LLC purchased a new position in MiX Telematics in the second quarter valued at approximately $53,000. Finally, CWM LLC purchased a new position in MiX Telematics in the second quarter valued at approximately $2,397,000. Institutional investors and hedge funds own 41.95% of the company’s stock.

MiX Telematics Company Profile

MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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