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

StockNews.com began coverage on shares of MiX Telematics (NYSE:MIXTFree Report) in a research report sent to investors on Friday. The firm issued a buy rating on the technology company’s stock.

Separately, Raymond James decreased their target price on MiX Telematics from $10.00 to $8.00 and set an outperform rating for the company in a research report on Thursday, November 9th.

Read Our Latest Stock Analysis on MiX Telematics

MiX Telematics Price Performance

Shares of MIXT opened at $9.65 on Friday. The business’s fifty day moving average is $8.95 and its 200 day moving average is $7.07. MiX Telematics has a 12-month low of $4.75 and a 12-month high of $9.79. The stock has a market cap of $213.84 million, a P/E ratio of 38.60 and a beta of 1.15.

MiX Telematics (NYSE:MIXTGet Free Report) last issued its quarterly earnings data on Thursday, February 1st. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). MiX Telematics had a net margin of 3.72% and a return on equity of 8.45%. The company had revenue of $39.09 million for the quarter, compared to the consensus estimate of $37.02 million. On average, analysts expect that MiX Telematics will post 0.4 EPS for the current year.

MiX Telematics Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 7th. Shareholders of record on Friday, February 23rd will be paid a $0.0603 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 2.50%. MiX Telematics’s dividend payout ratio (DPR) is currently 76.00%.

Hedge Funds Weigh In On MiX Telematics

Several hedge funds have recently made changes to their positions in the business. Kopion Asset Management LLC boosted its holdings in 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 worth $8,828,000 after acquiring an additional 53,963 shares in the last quarter. Cannell Capital LLC purchased a new position in MiX Telematics during the 4th quarter valued at approximately $7,718,000. Harber Asset Management LLC lifted its stake in shares of MiX Telematics by 6.6% in the 4th quarter. Harber Asset Management LLC now owns 703,202 shares of the technology company’s stock valued at $6,055,000 after purchasing an additional 43,436 shares during the last quarter. Penn Mutual Asset Management LLC lifted its stake in shares of MiX Telematics by 9.2% in the 3rd quarter. Penn Mutual Asset Management LLC now owns 535,219 shares of the technology company’s stock valued at $2,954,000 after purchasing an additional 45,000 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of MiX Telematics by 1.8% during the 2nd quarter. Renaissance Technologies LLC now owns 464,100 shares of the technology company’s stock worth $2,933,000 after acquiring an additional 8,300 shares during the last quarter. 40.29% 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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