Bank of New York Mellon Corp increased its stake in MiX Telematics Limited (NYSE:MIXT) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,292 shares of the technology company’s stock after buying an additional 1,715 shares during the period. Bank of New York Mellon Corp’s holdings in MiX Telematics Limited were worth $367,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MIXT. Rice Hall James & Associates LLC increased its stake in shares of 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. Russell Investments Group Ltd. increased its stake 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 valued at $123,000 after buying an additional 10,015 shares during the last quarter. Renaissance Technologies LLC increased its stake in MiX Telematics Limited by 6.9% in the fourth quarter. Renaissance Technologies LLC now owns 353,800 shares of the technology company’s stock valued at $2,190,000 after buying an additional 22,900 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in MiX Telematics Limited by 123.6% in the first quarter. Acadian Asset Management LLC now owns 397,232 shares of the technology company’s stock valued at $2,503,000 after buying an additional 219,616 shares during the last quarter. 15.05% of the stock is owned by institutional investors and hedge funds.

Shares of MiX Telematics Limited (NYSE:MIXT) opened at 8.69 on Monday. MiX Telematics Limited has a 12 month low of $4.93 and a 12 month high of $8.78. The company has a market cap of $195.85 million, a PE ratio of 23.17 and a beta of 0.85. The firm’s 50-day moving average price is $8.04 and its 200-day moving average price is $7.04.

MiX Telematics Limited (NYSE:MIXT) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The firm had revenue of $31.08 million for the quarter, compared to analyst estimates of $31.22 million. MiX Telematics Limited had a return on equity of 8.56% and a net margin of 7.88%. Equities analysts predict that MiX Telematics Limited will post $0.01 EPS for the current fiscal year.

MiX Telematics Limited announced that its board has initiated a stock buyback plan on Thursday, May 25th that permits the company to repurchase $20.10 million in shares. This repurchase authorization permits the technology company to purchase up to 12.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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MIXT has been the topic of several recent analyst reports. TheStreet upgraded MiX Telematics Limited from a “c+” rating to a “b-” rating in a report on Tuesday, July 11th. Canaccord Genuity reiterated a “buy” rating and issued a $12.00 target price on shares of MiX Telematics Limited in a report on Thursday. Zacks Investment Research upgraded MiX Telematics Limited from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a report on Tuesday, May 30th. Finally, ValuEngine downgraded MiX Telematics Limited from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $9.88.

About MiX Telematics Limited

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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Institutional Ownership by Quarter for MiX Telematics Limited (NYSE:MIXT)

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