Short Interest in Ituran Location and Control Ltd. (NASDAQ:ITRN) Decreases By 24.2%

Ituran Location and Control Ltd. (NASDAQ:ITRN) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 33,600 shares, a drop of 24.2% from the September 15th total of 44,300 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 77,300 shares, the short-interest ratio is currently 0.4 days.

Ituran Location and Control Trading Down 0.3 %

Shares of ITRN stock traded down $0.08 on Tuesday, reaching $26.79. 76,180 shares of the company’s stock were exchanged, compared to its average volume of 57,435. The company’s fifty day simple moving average is $27.16 and its 200 day simple moving average is $26.57. Ituran Location and Control has a 52 week low of $24.01 and a 52 week high of $30.00. The stock has a market capitalization of $532.96 million, a PE ratio of 10.71 and a beta of 1.14.

Ituran Location and Control (NASDAQ:ITRN) last released its quarterly earnings data on Monday, August 19th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. The company had revenue of $84.87 million during the quarter. Ituran Location and Control had a net margin of 15.42% and a return on equity of 28.43%.

Ituran Location and Control Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.82%. Ituran Location and Control’s dividend payout ratio is presently 62.40%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its stake in shares of Ituran Location and Control by 21.3% during the 2nd quarter. Acadian Asset Management LLC now owns 483,763 shares of the industrial products company’s stock worth $11,884,000 after acquiring an additional 85,023 shares in the last quarter. Aristides Capital LLC boosted its holdings in 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 in the last quarter. Rice Hall James & Associates LLC grew its stake in shares of Ituran Location and Control by 8.2% during the second quarter. Rice Hall James & Associates LLC now owns 444,043 shares of the industrial products company’s stock worth $10,941,000 after acquiring an additional 33,593 shares during the last quarter. LSV Asset Management purchased a new position in shares of Ituran Location and Control in the 1st quarter valued at approximately $875,000. Finally, GSA Capital Partners LLP boosted its stake in Ituran Location and Control by 109.1% in the 1st quarter. GSA Capital Partners LLP now owns 36,036 shares of the industrial products company’s stock worth $1,008,000 after purchasing an additional 18,803 shares in the last quarter. 94.80% of the stock is owned by institutional investors.

About Ituran Location and Control

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.