Navellier & Associates Inc Raises Position in MiX Telematics Ltd – (MIXT)
Navellier & Associates Inc increased its position in shares of MiX Telematics Ltd – (NYSE:MIXT) by 71.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,016 shares of the technology company’s stock after acquiring an additional 25,509 shares during the period. Navellier & Associates Inc owned about 0.27% of MiX Telematics worth $1,081,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of MIXT. Summit Trail Advisors LLC grew its position in MiX Telematics by 1,425.2% during the 1st quarter. Summit Trail Advisors LLC now owns 258,537 shares of the technology company’s stock worth $259,000 after acquiring an additional 241,586 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of MiX Telematics by 237.6% in the 1st quarter. JPMorgan Chase & Co. now owns 109,898 shares of the technology company’s stock valued at $1,709,000 after buying an additional 77,341 shares during the last quarter. Barometer Capital Management Inc. bought a new stake in shares of MiX Telematics in the 1st quarter valued at about $961,000. Acadian Asset Management LLC grew its position in shares of MiX Telematics by 5.6% in the 2nd quarter. Acadian Asset Management LLC now owns 915,774 shares of the technology company’s stock valued at $16,229,000 after buying an additional 48,952 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of MiX Telematics in the 2nd quarter valued at about $851,000. Institutional investors and hedge funds own 33.13% of the company’s stock.
MIXT has been the topic of a number of analyst reports. ValuEngine upgraded MiX Telematics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research upgraded MiX Telematics from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Tuesday, May 15th. Finally, Canaccord Genuity upped their price target on MiX Telematics from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, June 14th.
MiX Telematics (NYSE:MIXT) last released its quarterly earnings results on Thursday, May 10th. The technology company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. MiX Telematics had a return on equity of 11.83% and a net margin of 9.46%. The firm had revenue of $453.50 million for the quarter, compared to analyst estimates of $432.93 million. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. equities research analysts expect that MiX Telematics Ltd – will post 0.59 earnings per share for the current fiscal year.
MiX Telematics 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.
Further Reading: Momentum Indicator: Relative Strength Index
Want to see what other hedge funds are holding MIXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MiX Telematics Ltd – (NYSE:MIXT).
Receive News & Ratings for MiX Telematics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MiX Telematics and related companies with MarketBeat.com's FREE daily email newsletter.