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.
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.
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