MiX Telematics Ltd – (MIXT) Receives Average Recommendation of “Hold” from Analysts

MiX Telematics Ltd – (NYSE:MIXT) has earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $15.00.

Several brokerages have recently commented on MIXT. ValuEngine lowered MiX Telematics from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. BidaskClub raised MiX Telematics from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. Zacks Investment Research lowered MiX Telematics from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Canaccord Genuity increased their target price on MiX Telematics from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. purchased a new stake in MiX Telematics during the 3rd quarter worth about $103,000. Smith Asset Management Group LP purchased a new stake in MiX Telematics during the 3rd quarter worth about $114,000. New York State Common Retirement Fund increased its holdings in MiX Telematics by 47.6% during the 2nd quarter. New York State Common Retirement Fund now owns 20,794 shares of the technology company’s stock worth $164,000 after purchasing an additional 6,708 shares during the period. JPMorgan Chase & Co. increased its holdings in MiX Telematics by 84.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 23,844 shares of the technology company’s stock worth $188,000 after purchasing an additional 10,912 shares during the period. Finally, Royce & Associates LP increased its holdings in MiX Telematics by 2,095.6% during the 2nd quarter. Royce & Associates LP now owns 57,985 shares of the technology company’s stock worth $457,000 after purchasing an additional 55,344 shares during the period. 27.04% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MiX Telematics (MIXT) traded down $0.21 during trading hours on Thursday, reaching $12.00. The company’s stock had a trading volume of 17,200 shares, compared to its average volume of 75,302. The stock has a market cap of $273.20, a PE ratio of 29.78, a P/E/G ratio of 1.58 and a beta of 0.89. MiX Telematics has a 12 month low of $5.59 and a 12 month high of $12.25.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 7th. Investors of record on Friday, November 24th were paid a dividend of $0.044 per share. This is a positive change from MiX Telematics’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a $0.18 annualized dividend and a yield of 1.47%. MiX Telematics’s dividend payout ratio is presently 32.50%.

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About MiX Telematics

MiX Telematics Limited is a South Africa-based provider of fleet and mobile asset management solutions delivered as Software-as-a-Service (SaaS) to customers. The Company’s operating segments include Africa, Europe, Americas, Middle East and Australasia, Brazil and Central Services Organization. The Company’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, risk management and security.

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