Sito Mobile (SITO) Rating Increased to Buy at Ladenburg Thalmann Financial Services
Sito Mobile (NASDAQ:SITO) was upgraded by stock analysts at Ladenburg Thalmann Financial Services from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $10.00 target price on the Wireless communications provider’s stock. Ladenburg Thalmann Financial Services’ price target points to a potential upside of 48.37% from the stock’s current price.
SITO has been the topic of several other reports. Maxim Group set a $10.00 price objective on shares of Sito Mobile and gave the company a “buy” rating in a research report on Wednesday, November 15th. ValuEngine raised shares of Sito Mobile from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. Zacks Investment Research raised shares of Sito Mobile from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 24th. raised their price target on shares of Sito Mobile from $8.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. Finally, Craig Hallum raised shares of Sito Mobile from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $9.00.
Shares of Sito Mobile (SITO) opened at $6.74 on Thursday. Sito Mobile has a 1 year low of $1.71 and a 1 year high of $8.60.
In related news, CEO Thomas Pallack purchased 31,000 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were purchased at an average price of $6.83 per share, with a total value of $211,730.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.50% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC purchased a new position in shares of Sito Mobile in the third quarter worth approximately $204,000. National Asset Management Inc. boosted its holdings 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 worth $1,855,000 after buying an additional 365,000 shares during the last quarter. Finally, Cannell Peter B & Co. Inc. boosted its holdings in shares of Sito Mobile by 10.7% in the third quarter. Cannell Peter B & Co. Inc. now owns 882,995 shares of the Wireless communications provider’s stock worth $6,305,000 after buying an additional 85,300 shares during the last quarter. 12.50% of the stock is currently owned by institutional investors.
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About Sito Mobile
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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