MiX Telematics (NYSE:MIXT) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of MiX Telematics (NYSE:MIXT) in a research report released on Friday morning. The brokerage issued a buy rating on the technology company’s stock.

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

MiX Telematics Stock Performance

NYSE MIXT opened at $14.55 on Friday. The firm has a 50 day simple moving average of $12.39 and a 200-day simple moving average of $8.95. MiX Telematics has a one year low of $4.75 and a one 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.

MiX Telematics (NYSE:MIXT) last posted its quarterly earnings data on Thursday, February 1st. The technology company reported $0.11 EPS 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 business had revenue of $39.09 million during the quarter, compared to analysts’ expectations of $37.02 million. Equities analysts predict that MiX Telematics will post 0.4 EPS for the current fiscal year.

MiX Telematics Cuts Dividend

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

Institutional Trading of MiX Telematics

Hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in MiX Telematics in the fourth quarter valued at approximately $43,000. Black Maple Capital Management LP acquired a new stake in MiX Telematics in the fourth quarter valued at approximately $369,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV acquired a new stake in MiX Telematics in the fourth quarter valued at approximately $1,753,000. Hsbc Holdings PLC acquired a new stake in MiX Telematics in the fourth quarter valued at approximately $1,757,000. Finally, Penn Mutual Asset Management LLC raised 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. Institutional investors and hedge funds own 45.72% of the company’s stock.

MiX Telematics Company Profile

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.