Rice Hall James & Associates LLC lowered its position in shares of MiX Telematics Ltd – (NYSE:MIXT) by 16.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 505,247 shares of the technology company’s stock after selling 99,776 shares during the quarter. Rice Hall James & Associates LLC owned approximately 2.24% of MiX Telematics worth $7,594,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in MiX Telematics by 1,821.2% during the fourth quarter. BlackRock Inc. now owns 100,611 shares of the technology company’s stock worth $1,575,000 after purchasing an additional 95,374 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of MiX Telematics by 6.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 110,383 shares of the technology company’s stock valued at $1,724,000 after acquiring an additional 6,346 shares during the period. Millennium Management LLC raised its stake in shares of MiX Telematics by 78.2% in the 4th quarter. Millennium Management LLC now owns 230,023 shares of the technology company’s stock valued at $3,600,000 after acquiring an additional 100,932 shares during the period. Norges Bank purchased a new position in shares of MiX Telematics in the 4th quarter valued at $1,155,000. Finally, Nkcfo LLC purchased a new position in shares of MiX Telematics in the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 40.05% of the company’s stock.
MIXT stock traded down $0.07 during trading hours on Thursday, hitting $14.33. The company’s stock had a trading volume of 3,180 shares, compared to its average volume of 110,229. The stock has a market cap of $325.15 million, a P/E ratio of 19.20, a PEG ratio of 0.68 and a beta of 0.74. MiX Telematics Ltd – has a 12 month low of $13.01 and a 12 month high of $20.07. The stock has a 50 day moving average of $15.09.
The firm also recently declared a dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 23rd will be paid a $0.051 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This is a positive change from MiX Telematics’s previous dividend of $0.01. MiX Telematics’s payout ratio is 28.00%.
A number of brokerages have recently commented on MIXT. ValuEngine downgraded shares of MiX Telematics from a “hold” rating to a “sell” rating in a research note on Tuesday, June 4th. Zacks Investment Research raised shares of MiX Telematics from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Tuesday, August 6th.
MiX Telematics Profile
MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles.
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