Private Management Group Inc. decreased its holdings in Iteris, Inc. (NASDAQ:ITI - Free Report) by 93.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 100,249 shares of the technology company's stock after selling 1,526,705 shares during the quarter. Private Management Group Inc. owned 0.23% of Iteris worth $716,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in ITI. Public Employees Retirement System of Ohio acquired a new stake in Iteris in the 1st quarter valued at about $43,000. Bfsg LLC raised its holdings in Iteris by 31.4% in the second quarter. Bfsg LLC now owns 12,720 shares of the technology company's stock valued at $55,000 after acquiring an additional 3,038 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Iteris in the first quarter worth approximately $66,000. Cubist Systematic Strategies LLC acquired a new position in Iteris during the 2nd quarter worth approximately $91,000. Finally, Perritt Capital Management Inc. grew its holdings in Iteris by 150.0% during the 1st quarter. Perritt Capital Management Inc. now owns 25,000 shares of the technology company's stock worth $124,000 after acquiring an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 51.16% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on ITI. StockNews.com assumed coverage on shares of Iteris in a research report on Thursday. They set a "buy" rating for the company. Northland Capmk downgraded Iteris from a "strong-buy" rating to a "hold" rating in a report on Friday, August 9th. Maxim Group reiterated a "hold" rating on shares of Iteris in a report on Monday, August 12th. Finally, B. Riley restated a "neutral" rating and set a $7.20 target price (down previously from $8.00) on shares of Iteris in a research note on Wednesday, August 21st.
View Our Latest Research Report on Iteris
Insiders Place Their Bets
In related news, major shareholder Samjo Management, Llc sold 848,300 shares of the company's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $6.99, for a total value of $5,929,617.00. Following the completion of the sale, the insider now owns 4,165,000 shares in the company, valued at $29,113,350. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.40% of the stock is currently owned by corporate insiders.
Iteris Price Performance
NASDAQ:ITI remained flat at $7.19 during midday trading on Friday. 4,543 shares of the company traded hands, compared to its average volume of 289,621. Iteris, Inc. has a 12-month low of $4.00 and a 12-month high of $7.20. The firm has a market capitalization of $307.88 million, a P/E ratio of 239.75 and a beta of 0.87. The stock has a fifty day moving average of $7.14 and a two-hundred day moving average of $5.62.
Iteris (NASDAQ:ITI - Get Free Report) last posted its 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 firm had revenue of $45.78 million for the quarter, compared to analyst estimates of $44.02 million. On average, equities analysts anticipate that Iteris, Inc. will post 0.16 earnings per share for the current fiscal year.
Iteris Company Profile
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Free Report)
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.
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