Olympiad Research LP Invests $510,000 in Iteris, Inc. (NASDAQ:ITI)

Olympiad Research LP acquired a new position in Iteris, Inc. (NASDAQ:ITI) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 71,429 shares of the technology company’s stock, valued at approximately $510,000.

Several other large investors have also recently modified their holdings of ITI. Jacobs Levy Equity Management Inc. purchased a new position in Iteris during the 1st quarter valued at about $1,270,000. Private Management Group Inc. increased its holdings in Iteris by 13.3% during the 2nd quarter. Private Management Group Inc. now owns 1,626,954 shares of the technology company’s stock valued at $7,045,000 after purchasing an additional 191,511 shares during the period. Acuitas Investments LLC increased its holdings in Iteris by 155.2% during the 2nd quarter. Acuitas Investments LLC now owns 270,534 shares of the technology company’s stock valued at $1,171,000 after purchasing an additional 164,539 shares during the period. Natixis purchased a new position in Iteris during the 1st quarter valued at about $642,000. Finally, Renaissance Technologies LLC increased its holdings in Iteris by 24.2% during the 2nd quarter. Renaissance Technologies LLC now owns 375,885 shares of the technology company’s stock valued at $1,628,000 after purchasing an additional 73,300 shares during the period. Hedge funds and other institutional investors own 51.16% of the company’s stock.

Iteris Stock Performance

Iteris stock opened at $7.19 on Thursday. The stock’s 50 day simple moving average is $7.14 and its two-hundred day simple moving average is $5.67. The stock has a market cap of $307.88 million, a price-to-earnings ratio of 239.75 and a beta of 0.87. Iteris, Inc. has a fifty-two week low of $4.00 and a fifty-two week high of $7.20.

Iteris (NASDAQ:ITI) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Iteris had a return on equity of 2.02% and a net margin of 0.80%. The company had revenue of $45.78 million during the quarter, compared to the consensus estimate of $44.02 million. On average, analysts predict that Iteris, Inc. will post 0.16 earnings per share for the current year.

Insider Transactions at Iteris

In other news, major shareholder Samjo Management, Llc sold 848,300 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $6.99, for a total value of $5,929,617.00. Following the sale, the insider now directly owns 4,165,000 shares of the company’s stock, valued at $29,113,350. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 7.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ITI. Northland Capmk downgraded Iteris from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. StockNews.com assumed coverage on Iteris in a research report on Thursday, October 31st. They set a “buy” rating on the stock. B. Riley reaffirmed a “neutral” rating and set a $7.20 price objective (down from $8.00) on shares of Iteris in a research report on Wednesday, August 21st. Finally, Maxim Group reaffirmed a “hold” rating on shares of Iteris in a research report on Monday, August 12th.

Iteris Profile

Iteris, Inc provides intelligent transportation systems technology solutions in North America, Europe, South America, and Asia. The company offers smart mobility infrastructure solutions include traveler information systems, transportation performance measurement software, traffic analytics software, transportation operations software, transportation-related data sets, advanced sensing devices, managed services, traffic engineering services, and mobility consulting services.