MiX Telematics (NYSE:MIXT) Raised to Sell at ValuEngine

ValuEngine upgraded shares of MiX Telematics (NYSE:MIXT) from a strong sell rating to a sell rating in a research note published on Thursday, ValuEngine reports.

Separately, Zacks Investment Research cut shares of MiX Telematics from a buy rating to a hold rating in a report on Wednesday, October 2nd.

MIXT traded up $0.07 on Thursday, reaching $13.04. The stock had a trading volume of 21,202 shares, compared to its average volume of 51,695. MiX Telematics has a 12-month low of $12.88 and a 12-month high of $20.07. The business’s 50-day moving average price is $13.92 and its two-hundred day moving average price is $15.50. The company has a market cap of $292.86 million, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 0.61 and a beta of 0.82.

MiX Telematics (NYSE:MIXT) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. MiX Telematics had a net margin of 12.47% and a return on equity of 15.23%. The company had revenue of $521.70 million during the quarter, compared to analysts’ expectations of $513.93 million. During the same quarter in the previous year, the company earned $0.08 earnings per share. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. Analysts predict that MiX Telematics will post 0.85 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its holdings in MiX Telematics by 1.8% in the second quarter. Renaissance Technologies LLC now owns 774,925 shares of the technology company’s stock valued at $11,647,000 after buying an additional 13,625 shares in the last quarter. Cortina Asset Management LLC increased its stake in shares of MiX Telematics by 105.3% during the second quarter. Cortina Asset Management LLC now owns 326,846 shares of the technology company’s stock worth $4,912,000 after purchasing an additional 167,635 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of MiX Telematics by 24.3% during the second quarter. Russell Investments Group Ltd. now owns 247,054 shares of the technology company’s stock worth $3,708,000 after purchasing an additional 48,273 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in shares of MiX Telematics by 1.3% during the second quarter. Pinnacle Associates Ltd. now owns 175,030 shares of the technology company’s stock worth $2,631,000 after purchasing an additional 2,325 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of MiX Telematics by 379.1% during the first quarter. Marshall Wace LLP now owns 162,955 shares of the technology company’s stock worth $2,717,000 after purchasing an additional 128,941 shares in the last quarter. 41.95% of the stock is 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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