Cannell Peter B & Co. Inc. Acquires 85,300 Shares of SITO Mobile, Ltd. (SITO)
Cannell Peter B & Co. Inc. raised its holdings in SITO Mobile, Ltd. (NASDAQ:SITO) by 10.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 882,995 shares of the Wireless communications provider’s stock after purchasing an additional 85,300 shares during the period. Cannell Peter B & Co. Inc. owned 4.02% of SITO Mobile worth $6,305,000 at the end of the most recent reporting period.
Separately, National Asset Management Inc. boosted its position in shares of SITO Mobile by 270.4% in the second quarter. National Asset Management Inc. now owns 500,000 shares of the Wireless communications provider’s stock valued at $1,855,000 after acquiring an additional 365,000 shares during the period. Institutional investors own 15.07% of the company’s stock.
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In related news, Director Chester Petrow bought 68,800 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was acquired at an average cost of $3.98 per share, for a total transaction of $273,824.00. Following the completion of the transaction, the director now directly owns 286,968 shares in the company, valued at approximately $1,142,132.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.46% of the company’s stock.
SITO has been the subject of a number of analyst reports. raised their price objective on shares of SITO Mobile from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Ladenburg Thalmann Financial Services restated a “buy” rating and issued a $7.80 price objective on shares of SITO Mobile in a research report on Wednesday, August 16th. Maxim Group set a $4.00 price objective on shares of SITO Mobile and gave the company a “buy” rating in a research report on Tuesday, August 15th. Craig Hallum upgraded shares of SITO Mobile from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Monday, October 30th. Finally, Lake Street Capital initiated coverage on shares of SITO Mobile in a research report on Wednesday, October 25th. They issued a “buy” rating and a $10.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $8.83.
Shares of SITO Mobile, Ltd. (SITO) traded down $0.11 during trading on Wednesday, reaching $7.83. 172,600 shares of the company’s stock traded hands, compared to its average volume of 219,221. SITO Mobile, Ltd. has a twelve month low of $1.71 and a twelve month high of $8.60.
SITO Mobile (NASDAQ:SITO) last announced its earnings results on Tuesday, November 14th. The Wireless communications provider reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). SITO Mobile had a negative net margin of 29.34% and a negative return on equity of 47.82%. The company had revenue of $11.10 million for the quarter, compared to the consensus estimate of $11.34 million. The company’s revenue was up 29.7% compared to the same quarter last year. equities research analysts anticipate that SITO Mobile, Ltd. will post -0.42 EPS for the current year.
SITO Mobile Profile
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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