Iteris (ITI) Shares Up 14.1%
Iteris Inc (NASDAQ:ITI)’s share price shot up 14.1% on Monday . The stock traded as high as $7.47 and last traded at $6.95. 872,400 shares traded hands during trading, an increase of 478% from the average session volume of 150,903 shares. The stock had previously closed at $6.09.
Several brokerages have weighed in on ITI. Zacks Investment Research lowered Iteris from a “buy” rating to a “hold” rating in a report on Friday, August 25th. B. Riley reaffirmed a “buy” rating and issued a $9.00 price target on shares of Iteris in a report on Wednesday, November 8th. Finally, Northland Securities set a $9.00 price target on Iteris and gave the stock a “buy” rating in a report on Monday, November 13th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $8.31.
In related news, insider Todd Kreter sold 37,500 shares of Iteris stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $6.10, for a total transaction of $228,750.00. Following the completion of the sale, the insider now owns 40,803 shares of the company’s stock, valued at $248,898.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Global Investors Fundamental sold 110,912 shares of Iteris stock in a transaction on Friday, September 15th. The shares were sold at an average price of $6.12, for a total value of $678,781.44. The disclosure for this sale can be found here. Insiders sold 417,705 shares of company stock valued at $2,606,770 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Iteris by 28.0% during the second quarter. Vanguard Group Inc. now owns 813,850 shares of the technology company’s stock valued at $5,062,000 after buying an additional 177,980 shares during the period. Cowen Prime Services LLC boosted its stake in Iteris by 180.7% during the third quarter. Cowen Prime Services LLC now owns 563,395 shares of the technology company’s stock valued at $3,747,000 after buying an additional 362,650 shares during the period. Royce & Associates LP boosted its stake in Iteris by 39.9% during the second quarter. Royce & Associates LP now owns 526,000 shares of the technology company’s stock valued at $3,272,000 after buying an additional 150,000 shares during the period. Northern Trust Corp boosted its stake in Iteris by 256.5% during the second quarter. Northern Trust Corp now owns 306,623 shares of the technology company’s stock valued at $1,907,000 after buying an additional 220,625 shares during the period. Finally, State Street Corp bought a new stake in Iteris during the second quarter valued at $1,606,000. 33.35% of the stock is owned by institutional investors.
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Iteris, Inc is a provider of information solutions for both the traffic management and global agribusiness markets. The Company operates through three segments: Roadway Sensors, Transportation Systems and Performance Analytics. The Roadway Sensors segment provides various vehicle detection and information systems and products for traffic intersection control, incident detection and roadway traffic data collection applications.
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