Ituran Location and Control Ltd. (NASDAQ:ITRN) Short Interest Update

Ituran Location and Control Ltd. (NASDAQ:ITRN) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 57,000 shares, an increase of 30.7% from the August 15th total of 43,600 shares. Based on an average daily volume of 67,700 shares, the short-interest ratio is presently 0.8 days. Currently, 0.4% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ITRN. Acadian Asset Management LLC grew its stake in Ituran Location and Control by 21.3% during the 2nd quarter. Acadian Asset Management LLC now owns 483,763 shares of the industrial products company’s stock worth $11,884,000 after buying an additional 85,023 shares during the last quarter. Rice Hall James & Associates LLC boosted its holdings in shares of Ituran Location and Control by 8.2% in the second quarter. Rice Hall James & Associates LLC now owns 444,043 shares of the industrial products company’s stock valued at $10,941,000 after acquiring an additional 33,593 shares during the period. Aristides Capital LLC grew its position in shares of Ituran Location and Control by 23.3% during the second quarter. Aristides Capital LLC now owns 179,740 shares of the industrial products company’s stock worth $4,429,000 after acquiring an additional 33,958 shares during the last quarter. Inlet Private Wealth LLC increased its holdings in shares of Ituran Location and Control by 3.7% in the 2nd quarter. Inlet Private Wealth LLC now owns 141,900 shares of the industrial products company’s stock valued at $3,496,000 after acquiring an additional 5,000 shares during the period. Finally, ARK Investment Management LLC raised its position in Ituran Location and Control by 4.6% in the 2nd quarter. ARK Investment Management LLC now owns 86,684 shares of the industrial products company’s stock valued at $2,136,000 after purchasing an additional 3,791 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Ituran Location and Control Trading Up 0.3 %

NASDAQ:ITRN traded up $0.07 during trading hours on Monday, hitting $27.46. The company’s stock had a trading volume of 50,510 shares, compared to its average volume of 55,765. Ituran Location and Control has a 52-week low of $24.01 and a 52-week high of $30.10. The stock has a market capitalization of $546.29 million, a P/E ratio of 10.98 and a beta of 1.15. The stock has a fifty day moving average of $26.85 and a 200-day moving average of $26.71.

Ituran Location and Control (NASDAQ:ITRN) last released its quarterly earnings data on Monday, August 19th. The industrial products company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The business had revenue of $84.87 million for the quarter. Ituran Location and Control had a return on equity of 28.43% and a net margin of 15.42%.

Ituran Location and Control Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Thursday, September 26th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.56 dividend on an annualized basis and a yield of 5.68%. Ituran Location and Control’s payout ratio is currently 62.40%.

About Ituran Location and Control

Ituran Location and Control Ltd., together with its subsidiaries, provides location based telematics services and machine-to-machine telematics products. It operates through two segments, Telematics Services and Telematics Products. The Telematics services segment offers stolen vehicle recovery and tracking services, which enables to locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and locator services that allow customers to protect valuable merchandise and equipment.