MiX Telematics (NYSE:MIXT) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of MiX Telematics (NYSE:MIXTFree Report) in a research note released on Tuesday. The firm issued a buy rating on the technology company’s stock.

Separately, Raymond James upped their target price on shares of MiX Telematics from $8.00 to $12.00 and gave the stock an outperform rating in a research note on Wednesday, March 13th.

Check Out Our Latest Research Report on MIXT

MiX Telematics Price Performance

NYSE MIXT opened at $14.55 on Tuesday. MiX Telematics has a 1 year low of $4.75 and a 1 year high of $14.85. The firm has a market cap of $353.75 million, a price-to-earnings ratio of 58.20 and a beta of 1.15. The company has a fifty day moving average price of $10.56 and a 200-day moving average price of $7.93.

MiX Telematics (NYSE:MIXTGet Free Report) last posted its earnings results on Thursday, February 1st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $37.02 million. On average, research analysts anticipate that MiX Telematics will post 0.4 EPS for the current fiscal year.

MiX Telematics Cuts Dividend

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

Institutional Investors Weigh In On MiX Telematics

Several institutional investors have recently added to or reduced their stakes in the business. Kopion Asset Management LLC boosted its position in shares of MiX Telematics by 5.6% in the fourth quarter. Kopion Asset Management LLC now owns 1,025,321 shares of the technology company’s stock valued at $8,828,000 after acquiring an additional 53,963 shares during the period. Cannell Capital LLC purchased a new position in shares of MiX Telematics during the fourth quarter worth approximately $7,718,000. Harber Asset Management LLC grew its holdings in shares of MiX Telematics by 6.6% in the fourth quarter. Harber Asset Management LLC now owns 703,202 shares of the technology company’s stock worth $6,055,000 after purchasing an additional 43,436 shares during the last quarter. Penn Mutual Asset Management LLC boosted its holdings in MiX Telematics by 9.2% in the third quarter. Penn Mutual Asset Management LLC now owns 535,219 shares of the technology company’s stock valued at $2,954,000 after acquiring an additional 45,000 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in MiX Telematics by 1.8% in the second quarter. Renaissance Technologies LLC now owns 464,100 shares of the technology company’s stock valued at $2,933,000 after acquiring an additional 8,300 shares in the last quarter. 45.72% of the stock is owned by hedge funds and other institutional investors.

About MiX Telematics

(Get Free Report)

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.

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