Ituran Location and Control Ltd. (NASDAQ:ITRN) Sees Significant Decline in Short Interest

Ituran Location and Control Ltd. (NASDAQ:ITRN) was the recipient of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 36,400 shares, a decrease of 6.9% from the November 30th total of 39,100 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average trading volume of 66,200 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On Ituran Location and Control

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rice Hall James & Associates LLC increased its stake in shares of Ituran Location and Control by 16.4% in the third quarter. Rice Hall James & Associates LLC now owns 516,699 shares of the industrial products company’s stock valued at $13,713,000 after buying an additional 72,656 shares in the last quarter. Acadian Asset Management LLC increased its position in Ituran Location and Control by 21.3% in the 2nd quarter. Acadian Asset Management LLC now owns 483,763 shares of the industrial products company’s stock valued at $11,884,000 after acquiring an additional 85,023 shares in the last quarter. Aristides Capital LLC raised its stake in shares of Ituran Location and Control by 23.3% in the second quarter. Aristides Capital LLC now owns 179,740 shares of the industrial products company’s stock worth $4,429,000 after acquiring an additional 33,958 shares during the last quarter. Inlet Private Wealth LLC raised its position in Ituran Location and Control by 5.8% in the 3rd quarter. Inlet Private Wealth LLC now owns 150,200 shares of the industrial products company’s stock worth $3,986,000 after purchasing an additional 8,300 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in Ituran Location and Control by 43.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 84,600 shares of the industrial products company’s stock worth $2,245,000 after buying an additional 25,700 shares in the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Ituran Location and Control Trading Down 1.4 %

ITRN stock traded down $0.41 during trading on Monday, hitting $29.85. 125,057 shares of the stock traded hands, compared to its average volume of 59,109. The stock has a market cap of $593.84 million, a price-to-earnings ratio of 11.44 and a beta of 1.17. Ituran Location and Control has a one year low of $24.12 and a one year high of $31.64. The company has a 50 day simple moving average of $28.92 and a 200 day simple moving average of $27.35.

Ituran Location and Control Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Monday, December 23rd will be issued a dividend of $0.39 per share. The ex-dividend date is Monday, December 23rd. This represents a $1.56 dividend on an annualized basis and a yield of 5.23%. Ituran Location and Control’s dividend payout ratio is 59.77%.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd., together with its subsidiaries, provides location based telematics services and machine-to-machine telematics products. It operates through two segments, Telematics Services and Telematics Products. The Telematics services segment offers stolen vehicle recovery and tracking services, which enables to locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and locator services that allow customers to protect valuable merchandise and equipment.