SITO Mobile, Ltd. (SITO) Director Acquires $347,000.00 in Stock
SITO Mobile, Ltd. (NASDAQ:SITO) Director Itzhak Fisher bought 100,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was bought at an average price of $3.47 per share, for a total transaction of $347,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of SITO Mobile, Ltd. (NASDAQ:SITO) traded up 0.59% during mid-day trading on Wednesday, hitting $3.43. The company had a trading volume of 653 shares. SITO Mobile, Ltd. has a 52 week low of $1.71 and a 52 week high of $6.08. The firm has a 50-day moving average price of $3.72 and a 200-day moving average price of $2.84. The firm’s market capitalization is $70.94 million.
A number of research firms have recently weighed in on SITO. Zacks Investment Research upgraded SITO Mobile from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 14th. ValuEngine downgraded SITO Mobile from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Craig Hallum downgraded SITO Mobile from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a research report on Thursday, May 25th. Maxim Group reaffirmed a “buy” rating and set a $4.00 price target on shares of SITO Mobile in a research report on Monday, May 15th. Finally, Ladenburg Thalmann Financial Services increased their price target on SITO Mobile from $7.20 to $7.80 and gave the company a “buy” rating in a research report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. SITO Mobile presently has an average rating of “Hold” and a consensus target price of $5.34.
Institutional investors have recently added to or reduced their stakes in the stock. National Asset Management Inc. acquired a new position in SITO Mobile during the first quarter valued at about $347,000. Vanguard Group Inc. boosted its position in SITO Mobile by 27.0% in the first quarter. Vanguard Group Inc. now owns 631,444 shares of the Wireless communications provider’s stock valued at $1,623,000 after buying an additional 134,154 shares during the period. Perritt Capital Management Inc. boosted its position in SITO Mobile by 20.0% in the fourth quarter. Perritt Capital Management Inc. now owns 150,000 shares of the Wireless communications provider’s stock valued at $554,000 after buying an additional 25,000 shares during the period. Finally, Baird Financial Group Inc. boosted its position in SITO Mobile by 5.1% in the fourth quarter. Baird Financial Group Inc. now owns 68,300 shares of the Wireless communications provider’s stock valued at $252,000 after buying an additional 3,301 shares during the period. 14.20% of the stock is currently owned by institutional investors and hedge funds.
About SITO Mobile
SITO Mobile, Ltd. operates a mobile location-based advertising platform serving businesses, advertisers and brands. The Company’s offerings include SITO Location-Based Advertising and SITO Mobile Messaging. SITO Location-Based Advertising delivers display advertisements and videos on behalf of advertisers, including various features, such as Geo-fencing, Verified walk-in, Behavioral Targeting, and Analytics and Optimization.
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