MiX Telematics (NYSE:MIXT) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of MiX Telematics (NYSE:MIXT) in a report published on Friday. The brokerage issued a buy rating on the technology company’s stock.

Separately, Raymond James boosted their price objective on shares of MiX Telematics from $8.00 to $12.00 and gave the company an outperform rating in a research report on Wednesday, March 13th.

MiX Telematics Stock Performance

MIXT stock opened at $14.55 on Friday. MiX Telematics has a 12 month low of $4.75 and a 12 month high of $14.85. The company has a 50-day moving average price of $12.39 and a 200 day moving average price of $8.95. The stock has a market cap of $353.75 million, a PE ratio of 58.20 and a beta of 1.15.

MiX Telematics (NYSE:MIXT) last released its quarterly earnings results on Thursday, February 1st. The technology company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). MiX Telematics had a return on equity of 8.45% and a net margin of 3.72%. The firm had revenue of $39.09 million for the quarter, compared to analysts’ expectations of $37.02 million. Sell-side analysts forecast that MiX Telematics will post 0.4 EPS for the current year.

MiX Telematics Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd were given a $0.0603 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $0.24 annualized dividend and a yield of 1.66%. MiX Telematics’s dividend payout ratio (DPR) is 72.00%.

Institutional Investors Weigh In On MiX Telematics

Several large investors have recently added to or reduced their stakes in MIXT. FNY Investment Advisers LLC bought a new stake in shares of MiX Telematics in the 4th quarter valued at about $43,000. Black Maple Capital Management LP bought a new stake in shares of MiX Telematics in the 4th quarter valued at about $369,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV bought a new stake in shares of MiX Telematics in the 4th quarter valued at about $1,753,000. Hsbc Holdings PLC bought a new stake in shares of MiX Telematics in the 4th quarter valued at about $1,757,000. Finally, Penn Mutual Asset Management LLC raised its stake in shares of MiX Telematics by 9.2% during the 3rd quarter. Penn Mutual Asset Management LLC now owns 535,219 shares of the technology company’s stock worth $2,954,000 after acquiring an additional 45,000 shares in the last quarter. 45.72% of the stock is owned by hedge funds and other institutional investors.

MiX Telematics Company Profile

MiX Telematics Limited, together with its subsidiaries, provides fleet and mobile asset management solutions through software-as-a-service (SaaS) delivery model. It offers MiX Fleet Manager, a commercial fleet management solution comprising MyMiX, an innovative driver engagement platform; MiX Vision, an on-road and in-vehicle video recording solution; MiX Rovi, an in-vehicle display and communications system; MiX RIBAS and DriveMate, an in-cab driving aid solution; MiX Hours of Service, which allows real-time monitoring and compliance; MiX Journey Management, an easy-to-use electronic alternative to paper-based systems; and MiX OEM Connect allows customer instant, direct integration to relevant, and powerful telematics data.