Ituran Location and Control (NASDAQ:ITRN) Sees Large Volume Increase – Time to Buy?

Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) saw unusually-high trading volume on Tuesday . Approximately 672,124 shares changed hands during mid-day trading, an increase of 565% from the previous session’s volume of 101,006 shares.The stock last traded at $41.20 and had previously closed at $35.58.

Ituran Location and Control Price Performance

The company has a market capitalization of $829.21 million, a P/E ratio of 15.97 and a beta of 1.15. The business has a 50-day moving average of $32.93 and a 200-day moving average of $29.52.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $0.69 earnings per share (EPS) for the quarter. Ituran Location and Control had a return on equity of 28.31% and a net margin of 15.65%.

Institutional Trading of Ituran Location and Control

Several institutional investors and hedge funds have recently made changes to their positions in ITRN. Blue Trust Inc. lifted its position in shares of Ituran Location and Control by 63.4% during the third quarter. Blue Trust Inc. now owns 1,541 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 598 shares during the last quarter. Copeland Capital Management LLC bought a new stake in shares of Ituran Location and Control during the third quarter worth $50,000. Foundations Investment Advisors LLC bought a new stake in shares of Ituran Location and Control during the third quarter worth $228,000. Semanteon Capital Management LP bought a new stake in shares of Ituran Location and Control during the third quarter worth $225,000. Finally, Meitav Investment House Ltd. bought a new stake in shares of Ituran Location and Control during the third quarter worth $250,000. 94.80% of the stock is currently owned by institutional investors.

Ituran Location and Control Company Profile

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.