ValuEngine cut shares of MiX Telematics (NYSE:MIXT) from a buy rating to a hold rating in a research note published on Saturday morning.

MIXT has been the topic of a number of other reports. Canaccord Genuity boosted their price target on MiX Telematics from $23.00 to $25.00 and gave the stock a buy rating in a report on Thursday, June 14th. Zacks Investment Research raised MiX Telematics from a hold rating to a buy rating and set a $22.00 price target on the stock in a report on Tuesday, May 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $23.00.

MIXT stock opened at $15.78 on Friday. MiX Telematics has a twelve month low of $8.80 and a twelve month high of $21.00. The stock has a market cap of $377.26 million, a PE ratio of 27.39 and a beta of 0.45.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Wisconsin Investment Board lifted its holdings in MiX Telematics by 8.3% in the 1st quarter. State of Wisconsin Investment Board now owns 43,477 shares of the technology company’s stock worth $676,000 after purchasing an additional 3,317 shares in the last quarter. Sei Investments Co. lifted its holdings in MiX Telematics by 47.2% in the 1st quarter. Sei Investments Co. now owns 14,155 shares of the technology company’s stock worth $220,000 after purchasing an additional 4,538 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in MiX Telematics by 45.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 25,608 shares of the technology company’s stock worth $398,000 after purchasing an additional 8,013 shares in the last quarter. Cavalier Investments LLC lifted its holdings in MiX Telematics by 48.9% in the 2nd quarter. Cavalier Investments LLC now owns 40,500 shares of the technology company’s stock worth $717,000 after purchasing an additional 13,300 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in MiX Telematics by 2,063.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 17,441 shares of the technology company’s stock worth $271,000 after purchasing an additional 16,635 shares in the last quarter. 32.50% of the stock is currently owned by institutional investors.

MiX Telematics Company Profile

MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles.

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