Chester Petrow Acquires 68,800 Shares of SITO Mobile, Ltd. (SITO) Stock
SITO Mobile, Ltd. (NASDAQ:SITO) Director Chester Petrow acquired 68,800 shares of the stock in a transaction dated Thursday, August 24th. The stock was acquired at an average price of $3.98 per share, for a total transaction of $273,824.00. Following the purchase, the director now directly owns 286,968 shares in the company, valued at $1,142,132.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of SITO Mobile, Ltd. (NASDAQ SITO) opened at 4.35 on Friday. The firm’s 50-day moving average is $4.73 and its 200-day moving average is $3.42. SITO Mobile, Ltd. has a 1-year low of $1.71 and a 1-year high of $6.48. The company’s market cap is $95.29 million.
SITO Mobile (NASDAQ:SITO) last posted its quarterly earnings results on Thursday, August 17th. The Wireless communications provider reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.04. SITO Mobile had a negative net margin of 20.97% and a negative return on equity of 24.74%. The business had revenue of $10.80 million during the quarter, compared to analysts’ expectations of $10.75 million. On average, equities analysts forecast that SITO Mobile, Ltd. will post ($0.37) earnings per share for the current fiscal year.
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SITO has been the topic of several recent research reports. Zacks Investment Research cut shares of SITO Mobile from a “hold” rating to a “strong sell” rating in a research note on Saturday, April 29th. Ladenburg Thalmann Financial Services increased their price objective on shares of SITO Mobile from $7.20 to $7.80 and gave the stock a “buy” rating in a research note on Thursday, May 4th. Maxim Group reiterated a “buy” rating and issued a $4.00 price objective on shares of SITO Mobile in a research note on Friday, May 5th. Craig Hallum cut shares of SITO Mobile from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a research note on Thursday, May 25th. Finally, ValuEngine cut shares of SITO Mobile from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. SITO Mobile currently has a consensus rating of “Hold” and a consensus price target of $5.34.
An institutional investor recently raised its position in SITO Mobile stock. Regentatlantic Capital LLC boosted its stake in SITO Mobile, Ltd. (NASDAQ:SITO) by 9.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 88,079 shares of the Wireless communications provider’s stock after buying an additional 7,673 shares during the period. Regentatlantic Capital LLC owned about 0.43% of SITO Mobile worth $327,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 13.39% of the company’s stock.
SITO Mobile Company Profile
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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