TheStreet upgraded shares of MiX Telematics Limited (NYSE:MIXT) from a c+ rating to a b- rating in a report published on Tuesday.

A number of other equities analysts have also recently issued reports on MIXT. ValuEngine cut MiX Telematics Limited from a buy rating to a hold rating in a report on Friday, May 26th. Zacks Investment Research cut MiX Telematics Limited from a buy rating to a hold rating in a report on Saturday, March 18th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $9.13.

Shares of MiX Telematics Limited (NYSE MIXT) traded up 4.36% during mid-day trading on Tuesday, reaching $8.37. The company had a trading volume of 176,336 shares. MiX Telematics Limited has a 1-year low of $4.80 and a 1-year high of $8.60. The stock has a market capitalization of $188.63 million, a price-to-earnings ratio of 22.32 and a beta of 0.84. The firm has a 50-day moving average price of $7.00 and a 200-day moving average price of $6.77.

MiX Telematics Limited (NYSE:MIXT) last posted its quarterly earnings data on Thursday, May 25th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.06. MiX Telematics Limited had a return on equity of 7.08% and a net margin of 7.88%. The company had revenue of $29.18 million during the quarter, compared to analysts’ expectations of $27.81 million. Equities analysts expect that MiX Telematics Limited will post $0.01 earnings per share for the current year.

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MiX Telematics Limited declared that its board has initiated a share buyback plan on Thursday, May 25th that allows the company to buyback $20.10 million in shares. This buyback authorization allows the technology company to buy up to 12.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a dividend, which was paid on Monday, June 19th. Investors of record on Thursday, June 15th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, June 12th. MiX Telematics Limited’s payout ratio is currently 31.43%.

A number of institutional investors have recently bought and sold shares of MIXT. Russell Investments Group Ltd. boosted its position in MiX Telematics Limited by 105.6% in the first quarter. Russell Investments Group Ltd. now owns 19,495 shares of the technology company’s stock worth $123,000 after buying an additional 10,015 shares during the last quarter. State of Wisconsin Investment Board acquired a new position in MiX Telematics Limited during the first quarter worth about $225,000. Blair William & Co. IL boosted its position in MiX Telematics Limited by 0.6% in the first quarter. Blair William & Co. IL now owns 56,478 shares of the technology company’s stock worth $403,000 after buying an additional 340 shares during the last quarter. Bank of New York Mellon Corp boosted its position in MiX Telematics Limited by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 58,292 shares of the technology company’s stock worth $367,000 after buying an additional 1,715 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its position in MiX Telematics Limited by 0.8% in the first quarter. Rice Hall James & Associates LLC now owns 335,404 shares of the technology company’s stock worth $2,113,000 after buying an additional 2,778 shares during the last quarter. Institutional investors own 14.37% of the company’s stock.

MiX Telematics Limited Company Profile

MiX Telematics Limited is a South Africa-based provider of fleet and mobile asset management solutions delivered as Software-as-a-Service (SaaS) to customers. The Company’s operating segments include Africa, Europe, Americas, Middle East and Australasia, Brazil and Central Services Organization. The Company’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, risk management and security.

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