Ituran Location and Control Ltd. (NASDAQ:ITRN) Sees Significant Decrease in Short Interest

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 days-to-cover ratio is presently 0.8 days. Based on an average daily trading volume, of 129,718 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Natixis Advisors LLC grew its stake in shares of Ituran Location and Control by 2.8% during the 3rd quarter. Natixis Advisors LLC now owns 12,054 shares of the industrial products company’s stock worth $431,000 after purchasing an additional 333 shares during the period. Legato Capital Management LLC boosted its holdings in Ituran Location and Control by 8.4% during the third quarter. Legato Capital Management LLC now owns 5,698 shares of the industrial products company’s stock worth $204,000 after buying an additional 443 shares in the last quarter. Copeland Capital Management LLC grew its position in Ituran Location and Control by 33.4% during the third quarter. Copeland Capital Management LLC now owns 1,871 shares of the industrial products company’s stock valued at $67,000 after buying an additional 468 shares during the period. Atria Investments Inc increased its holdings in Ituran Location and Control by 5.1% in the second quarter. Atria Investments Inc now owns 11,043 shares of the industrial products company’s stock valued at $428,000 after buying an additional 532 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Ituran Location and Control by 3.5% in the second quarter. California State Teachers Retirement System now owns 15,970 shares of the industrial products company’s stock worth $619,000 after acquiring an additional 536 shares during the period. 94.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Ituran Location and Control from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Ituran Location and Control in a research report on Monday. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $50.00.

Ituran Location and Control Trading Up 1.4%

Shares of Ituran Location and Control stock traded up $0.61 during trading on Wednesday, hitting $43.01. 300,708 shares of the company’s stock were exchanged, compared to its average volume of 123,707. The business has a 50-day simple moving average of $40.09 and a 200-day simple moving average of $38.33. Ituran Location and Control has a 52-week low of $29.80 and a 52-week high of $45.43.

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