Ituran Location and Control Ltd. (NASDAQ:ITRN) Short Interest Up 40.7% in January

Ituran Location and Control Ltd. (NASDAQ:ITRN) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 168,167 shares, an increase of 40.7% from the December 31st total of 119,556 shares. Based on an average daily volume of 119,964 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily volume of 119,964 shares, the days-to-cover ratio is presently 1.4 days.

Ituran Location and Control Price Performance

NASDAQ ITRN opened at $44.63 on Friday. The business has a fifty day simple moving average of $43.03 and a 200 day simple moving average of $39.35. Ituran Location and Control has a 12 month low of $30.06 and a 12 month high of $45.90.

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 (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $92.28 million for the quarter, compared to the consensus estimate of $86.52 million.

Ituran Location and Control Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 29th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Monday, December 29th. Ituran Location and Control’s dividend payout ratio is presently 70.42%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ITRN. Weiss Ratings restated a “buy (b)” rating on shares of Ituran Location and Control in a report on Monday, December 29th. Wall Street Zen raised shares of Ituran Location and Control from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ituran Location and Control presently has a consensus rating of “Buy” and a consensus target price of $50.00.

Institutional Investors Weigh In On Ituran Location and Control

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in shares of Ituran Location and Control during the 3rd quarter worth approximately $28,000. Assetmark Inc. purchased a new stake in shares of Ituran Location and Control during the second quarter valued at approximately $37,000. Jones Financial Companies Lllp increased its position in shares of Ituran Location and Control by 327.2% during the first quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 939 shares during the last quarter. Covestor Ltd bought a new stake in Ituran Location and Control during the third quarter worth $47,000. Finally, National Bank of Canada FI purchased a new position in Ituran Location and Control in the third quarter worth $53,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

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.