Ituran Location and Control Ltd. (NASDAQ:ITRN) Sees Large Decline in Short Interest

Ituran Location and Control Ltd. (NASDAQ:ITRN) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totaling 104,354 shares, a decline of 30.3% from the November 30th total of 149,818 shares. Based on an average trading volume of 129,718 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 129,718 shares, the short-interest ratio is presently 0.8 days.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ITRN. Wall Street Zen upgraded shares of Ituran Location and Control from a “hold” rating to a “strong-buy” rating in a research note 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 analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ituran Location and Control presently has an average rating of “Buy” and an average price target of $50.00.

Hedge Funds Weigh In On Ituran Location and Control

Institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its stake in Ituran Location and Control by 18.5% during the 2nd quarter. Acadian Asset Management LLC now owns 726,519 shares of the industrial products company’s stock worth $28,097,000 after acquiring an additional 113,594 shares during the last quarter. CSM Advisors LLC acquired a new position in shares of Ituran Location and Control in the 2nd quarter valued at $3,731,000. Man Group plc raised its stake in Ituran Location and Control by 90.8% during the 2nd quarter. Man Group plc now owns 137,657 shares of the industrial products company’s stock worth $5,331,000 after buying an additional 65,502 shares during the period. GW&K Investment Management LLC acquired a new position in Ituran Location and Control in the third quarter valued at about $1,911,000. Finally, Pekin Hardy Strauss Inc. lifted its position in Ituran Location and Control by 29.1% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 230,308 shares of the industrial products company’s stock valued at $8,227,000 after acquiring an additional 51,939 shares in the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Ituran Location and Control Trading Down 0.5%

Shares of Ituran Location and Control stock traded down $0.22 during mid-day trading on Tuesday, reaching $42.40. 278,715 shares of the stock were exchanged, compared to its average volume of 111,956. Ituran Location and Control has a fifty-two week low of $29.80 and a fifty-two week high of $45.43. The firm has a 50-day simple moving average of $40.09 and a 200 day simple moving average of $38.33.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.06. Ituran Location and Control had a net margin of 16.23% and a return on equity of 27.68%. The company had revenue of $92.28 million during the quarter, compared to analyst estimates of $86.52 million.

Ituran Location and Control Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 29th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $2.00 dividend on an annualized basis and a yield of 4.7%. Ituran Location and Control’s dividend payout ratio (DPR) is presently 70.42%.

Ituran Location and Control Company Profile

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.