Renaissance Technologies LLC raised its stake in MiX Telematics Limited (NYSE:MIXT) by 53.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 543,510 shares of the technology company’s stock after buying an additional 189,710 shares during the period. Renaissance Technologies LLC’s holdings in MiX Telematics Limited were worth $3,424,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. boosted its position in shares of MiX Telematics Limited by 105.6% in the first quarter. Russell Investments Group Ltd. now owns 19,495 shares of the technology company’s stock valued at $123,000 after buying an additional 10,015 shares in the last quarter. State of Wisconsin Investment Board acquired a new position in shares of MiX Telematics Limited during the first quarter valued at $225,000. Blair William & Co. IL boosted its position in shares of MiX Telematics Limited by 0.6% in the first quarter. Blair William & Co. IL now owns 56,478 shares of the technology company’s stock valued at $403,000 after buying an additional 340 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of MiX Telematics Limited by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 58,292 shares of the technology company’s stock valued at $367,000 after buying an additional 1,715 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its position in shares of MiX Telematics Limited by 0.8% in the first quarter. Rice Hall James & Associates LLC now owns 335,404 shares of the technology company’s stock valued at $2,113,000 after buying an additional 2,778 shares in the last quarter. Institutional investors and hedge funds own 15.05% of the company’s stock.

Shares of MiX Telematics Limited (MIXT) traded up 1.127% on Friday, hitting $8.525. 9,034 shares of the stock traded hands. The stock has a 50 day moving average of $8.19 and a 200 day moving average of $7.12. MiX Telematics Limited has a one year low of $4.93 and a one year high of $8.83. The company has a market cap of $190.44 million, a PE ratio of 21.312 and a beta of 0.85.

MiX Telematics Limited (NYSE:MIXT) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.10 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.10. The firm had revenue of $31.08 million for the quarter, compared to analyst estimates of $31.22 million. MiX Telematics Limited had a net margin of 7.88% and a return on equity of 8.56%. Equities analysts anticipate that MiX Telematics Limited will post $0.02 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Friday, August 25th will be paid a $0.036 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.71%. This is a positive change from MiX Telematics Limited’s previous quarterly dividend of $0.01. MiX Telematics Limited’s dividend payout ratio is presently 28.21%.

MiX Telematics Limited announced that its board has authorized a share buyback program on Thursday, May 25th that allows the company to repurchase $20.10 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 12.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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Several research analysts have recently weighed in on the stock. ValuEngine cut shares of MiX Telematics Limited from a “buy” rating to a “hold” rating in a research note on Tuesday. Canaccord Genuity reiterated a “buy” rating and set a $12.00 price target on shares of MiX Telematics Limited in a research note on Thursday, August 3rd. Zacks Investment Research cut shares of MiX Telematics Limited from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Finally, TheStreet upgraded shares of MiX Telematics Limited from a “c+” rating to a “b-” rating in a research note on Tuesday, July 11th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. MiX Telematics Limited currently has a consensus rating of “Hold” and an average target price of $9.88.

About MiX Telematics Limited

MiX Telematics Limited is a South Africa-based provider of fleet and mobile asset management solutions delivered as Software-as-a-Service (SaaS) to customers. The Company’s operating segments include Africa, Europe, Americas, Middle East and Australasia, Brazil and Central Services Organization. The Company’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, risk management and security.

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Institutional Ownership by Quarter for MiX Telematics Limited (NYSE:MIXT)

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