Iteris (NASDAQ:ITI) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Iteris (NASDAQ:ITI) in a research report sent to investors on Saturday. The brokerage issued a buy rating on the technology company’s stock.

A number of other analysts also recently issued reports on ITI. Northland Capmk downgraded Iteris from a strong-buy rating to a hold rating in a research report on Friday, August 9th. B. Riley restated a neutral rating and issued a $7.20 price target (down from $8.00) on shares of Iteris in a research note on Wednesday, August 21st. Finally, Maxim Group reiterated a hold rating on shares of Iteris in a research note on Monday, August 12th.

Iteris Stock Up 0.4 %

NASDAQ:ITI opened at $7.15 on Friday. Iteris has a twelve month low of $3.97 and a twelve month high of $7.15. The company has a market cap of $307.27 million, a P/E ratio of 102.14 and a beta of 0.86. The business has a 50 day moving average price of $6.19 and a two-hundred day moving average price of $5.14.

Iteris (NASDAQ:ITI) last announced its earnings results on Thursday, August 8th. The technology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). Iteris had a return on equity of 2.02% and a net margin of 0.80%. The business had revenue of $45.78 million for the quarter, compared to analyst estimates of $44.02 million. As a group, analysts anticipate that Iteris will post 0.18 earnings per share for the current fiscal year.

Insider Transactions at Iteris

In related news, major shareholder Samjo Management, Llc sold 848,300 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $6.99, for a total value of $5,929,617.00. Following the completion of the sale, the insider now directly owns 4,165,000 shares in the company, valued at approximately $29,113,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new stake in shares of Iteris during the 1st quarter worth about $43,000. Bfsg LLC lifted its position in Iteris by 31.4% during the second quarter. Bfsg LLC now owns 12,720 shares of the technology company’s stock worth $55,000 after acquiring an additional 3,038 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Iteris during the first quarter worth approximately $66,000. Cubist Systematic Strategies LLC acquired a new position in shares of Iteris in the second quarter valued at approximately $91,000. Finally, Perritt Capital Management Inc. increased its stake in shares of Iteris by 150.0% during the first quarter. Perritt Capital Management Inc. now owns 25,000 shares of the technology company’s stock worth $124,000 after purchasing an additional 15,000 shares during the period. 51.16% of the stock is owned by institutional investors and hedge funds.

About Iteris

Iteris, Inc provides intelligent transportation systems technology solutions in North America, Europe, South America, and Asia. The company offers smart mobility infrastructure solutions include traveler information systems, transportation performance measurement software, traffic analytics software, transportation operations software, transportation-related data sets, advanced sensing devices, managed services, traffic engineering services, and mobility consulting services.