10.2% Stake of SITO Mobile, Ltd. (NASDAQ:SITO) Maintained by Singer Karen

Singer Karen

recently revealed that they own 10.2% of SITO Mobile, Ltd. (NASDAQ:SITO) in a Schedule 13D/A disclosure that was filed with the SEC on Monday, July 24th. The investor owns 2,100,718 shares of the stock valued at $9,054,095. The reporting parties listed on the disclosure included Karen Singer and TAR Holdings LLC. The disclosure is available through Edgar at this link.

Singer Karen

provided the following explanation of their ownership:

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Separately, National Asset Management Inc. purchased a new position in shares of SITO Mobile during the first quarter valued at approximately $347,000. Hedge funds and other institutional investors own 13.39% of the company’s stock.

Shares of SITO Mobile, Ltd. (NASDAQ SITO) opened at 4.31 on Friday. The company’s market cap is $94.41 million. SITO Mobile, Ltd. has a 12 month low of $1.71 and a 12 month high of $6.48. The firm’s 50-day moving average is $4.72 and its 200-day moving average is $3.35.

SITO Mobile (NASDAQ:SITO) last released its quarterly earnings data on Thursday, August 17th. The Wireless communications provider reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.04. SITO Mobile had a negative net margin of 20.97% and a negative return on equity of 24.74%. The business had revenue of $10.80 million for the quarter, compared to the consensus estimate of $10.75 million. On average, equities research analysts predict that SITO Mobile, Ltd. will post ($0.37) earnings per share for the current year.

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Several brokerages have commented on SITO. Maxim Group restated a “buy” rating and set a $4.00 price objective on shares of SITO Mobile in a research report on Friday, May 5th. ValuEngine downgraded shares of SITO Mobile from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Ladenburg Thalmann Financial Services upped their price target on shares of SITO Mobile from $7.20 to $7.80 and gave the stock a “buy” rating in a report on Thursday, May 4th. Zacks Investment Research upgraded shares of SITO Mobile from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Craig Hallum cut shares of SITO Mobile from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $5.34.

In other news, Director Itzhak Fisher bought 100,000 shares of SITO Mobile stock in a transaction dated Thursday, June 15th. The shares were acquired at an average price of $3.47 per share, with a total value of $347,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.50% of the company’s stock.

SITO Mobile Company Profile

SITO Mobile, Ltd. operates a mobile location-based advertising platform serving businesses, advertisers and brands. The Company’s offerings include SITO Location-Based Advertising and SITO Mobile Messaging. SITO Location-Based Advertising delivers display advertisements and videos on behalf of advertisers, including various features, such as Geo-fencing, Verified walk-in, Behavioral Targeting, and Analytics and Optimization.

Institutional Ownership by Quarter for SITO Mobile (NASDAQ:SITO)

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