Short Interest in Ituran Location and Control Ltd. (NASDAQ:ITRN) Grows By 40.7%

Ituran Location and Control Ltd. (NASDAQ:ITRN) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 168,167 shares, an increase of 40.7% from the December 31st total of 119,556 shares. Based on an average trading volume of 119,964 shares, the days-to-cover ratio is currently 1.4 days. Based on an average trading volume of 119,964 shares, the days-to-cover ratio is currently 1.4 days.

Ituran Location and Control Trading Down 1.7%

Shares of ITRN stock opened at $44.63 on Friday. Ituran Location and Control has a fifty-two week low of $30.06 and a fifty-two week high of $45.90. The stock has a 50 day simple moving average of $43.03 and a two-hundred day simple moving average of $39.35.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $0.74 EPS for the quarter, topping the consensus estimate 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 net margin of 16.23% and a return on equity of 27.68%.

Ituran Location and Control Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on ITRN. Weiss Ratings reissued a “buy (b)” rating on shares of Ituran Location and Control in a research report on Monday, December 29th. Wall Street Zen raised 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, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $50.00.

Hedge Funds Weigh In On Ituran Location and Control

Several institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC acquired a new stake in shares of Ituran Location and Control in the 3rd quarter valued at about $28,000. Assetmark Inc. bought a new position in Ituran Location and Control in the second quarter worth approximately $37,000. Jones Financial Companies Lllp grew its stake in Ituran Location and Control by 327.2% in the first 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. Covestor Ltd bought a new stake in shares of Ituran Location and Control during the third quarter valued at approximately $47,000. Finally, National Bank of Canada FI bought a new stake in shares of Ituran Location and Control during the third quarter valued at approximately $53,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

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.