MiX Telematics (NYSE:MIXT) Now Covered by StockNews.com

Posted by Amy Steele on May 26th, 2023

StockNews.com initiated coverage on shares of MiX Telematics (NYSE:MIXT – Get Rating) in a research note published on Monday morning. The firm issued a buy rating on the technology company’s stock.

MiX Telematics Stock Performance

Shares of MIXT stock opened at $7.29 on Monday. MiX Telematics has a 52-week low of $6.75 and a 52-week high of $10.67. The stock has a market cap of $177.51 million, a price-to-earnings ratio of 27.00 and a beta of 1.00. The firm has a fifty day moving average of $7.81 and a 200-day moving average of $7.82.

Insider Activity

In other news, CFO Paul M. Dell sold 230,168 shares of the stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $0.33, for a total value of $75,955.44. Following the completion of the transaction, the chief financial officer now owns 494,955 shares in the company, valued at approximately $163,335.15. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Paul M. Dell sold 230,168 shares of the company’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $0.33, for a total value of $75,955.44. Following the sale, the chief financial officer now owns 494,955 shares of the company’s stock, valued at approximately $163,335.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Robin A. Frew sold 903,600 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $0.32, for a total transaction of $289,152.00. Following the completion of the sale, the insider now directly owns 18,328,080 shares in the company, valued at approximately $5,864,985.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,255,806 shares of company stock worth $1,031,145. 27.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MiX Telematics

A number of hedge funds have recently added to or reduced their stakes in MIXT. Penn Mutual Asset Management LLC bought a new stake in MiX Telematics during the 1st quarter worth about $2,592,000. Parallax Volatility Advisers L.P. boosted its stake in shares of MiX Telematics by 130.0% in the 2nd quarter. Parallax Volatility Advisers L.P. now owns 74,947 shares of the technology company’s stock valued at $610,000 after purchasing an additional 324,568 shares during the last quarter. Meros Investment Management LP boosted its stake in shares of MiX Telematics by 50.5% in the 4th quarter. Meros Investment Management LP now owns 425,139 shares of the technology company’s stock valued at $2,989,000 after purchasing an additional 142,729 shares during the last quarter. Kopion Asset Management LLC boosted its stake in shares of MiX Telematics by 19.7% in the 1st quarter. Kopion Asset Management LLC now owns 820,991 shares of the technology company’s stock valued at $6,363,000 after purchasing an additional 134,964 shares during the last quarter. Finally, Edenbrook Capital LLC boosted its stake in shares of MiX Telematics by 4.4% in the 3rd quarter. Edenbrook Capital LLC now owns 1,264,086 shares of the technology company’s stock valued at $9,607,000 after purchasing an additional 53,524 shares during the last quarter. Institutional investors own 34.20% of the company’s stock.

MiX Telematics Company Profile

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MiX Telematics Ltd. engages in the provision of fleet and mobile asset management solutions. It focuses on the following industries: fast moving consumer goods, utilities, security, construction, transport and distribution, emergency services, government, rental and leasing, mining, oil and gas, and public transport.