MiX Telematics (NYSE:MIXT) Trading Up 6.6%

MiX Telematics Ltd – (NYSE:MIXT) shares were up 6.6% on Tuesday . The company traded as high as $7.65 and last traded at $7.55, approximately 127,072 shares changed hands during trading. An increase of 14% from the average daily volume of 111,194 shares. The stock had previously closed at $7.08.

A number of equities research analysts recently weighed in on MIXT shares. Canaccord Genuity reiterated a “buy” rating and set a $30.00 price objective on shares of MiX Telematics in a report on Thursday, January 30th. Zacks Investment Research lowered shares of MiX Telematics from a “hold” rating to a “sell” rating in a report on Tuesday, March 10th. Finally, First Analysis lowered shares of MiX Telematics from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $21.00 to $19.00 in a report on Monday, March 9th.

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 1.58. The firm has a market cap of $159.87 million, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 0.40 and a beta of 0.71. The firm’s fifty day moving average price is $11.76 and its 200 day moving average price is $12.83.

MiX Telematics (NYSE:MIXT) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). MiX Telematics had a net margin of 12.38% and a return on equity of 14.87%. The business had revenue of $38.20 million during the quarter, compared to the consensus estimate of $35.29 million. As a group, analysts expect that MiX Telematics Ltd – will post 0.7 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 21st were issued a $0.0672 dividend. The ex-dividend date was Thursday, February 20th. This represents a $0.27 annualized dividend and a dividend yield of 3.41%. MiX Telematics’s dividend payout ratio is currently 26.67%.

Several large investors have recently bought and sold shares of the company. Quantum Capital Management raised its holdings in shares of MiX Telematics by 1.3% in the 3rd quarter. Quantum Capital Management now owns 233,903 shares of the technology company’s stock valued at $3,263,000 after purchasing an additional 3,094 shares in the last quarter. Greenwood Capital Associates LLC raised its holdings in shares of MiX Telematics by 30.3% in the 4th quarter. Greenwood Capital Associates LLC now owns 15,438 shares of the technology company’s stock valued at $200,000 after purchasing an additional 3,591 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of MiX Telematics by 25.2% in the 4th quarter. Marshall Wace LLP now owns 81,090 shares of the technology company’s stock valued at $1,052,000 after purchasing an additional 16,312 shares in the last quarter. Boston Partners grew its position in shares of MiX Telematics by 26.1% in the 3rd quarter. Boston Partners now owns 93,284 shares of the technology company’s stock worth $1,301,000 after buying an additional 19,322 shares during the last quarter. Finally, Seizert Capital Partners LLC purchased a new position in shares of MiX Telematics in the 4th quarter worth approximately $252,000. Institutional investors and hedge funds own 34.49% of the company’s stock.

About MiX Telematics (NYSE:MIXT)

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.

Further Reading: Quiet Period Expirations

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