Short Interest in Ituran Location and Control Ltd. (NASDAQ:ITRN) Expands By 45.9%

Ituran Location and Control Ltd. (NASDAQ:ITRN) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 56,600 shares, an increase of 45.9% from the October 15th total of 38,800 shares. Based on an average trading volume of 71,900 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.4% of the company’s shares are sold short.

Institutional Investors Weigh In On Ituran Location and Control

A number of institutional investors have recently modified their holdings of the company. Barclays PLC grew its stake in Ituran Location and Control by 132.1% during the 3rd quarter. Barclays PLC now owns 7,731 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 4,400 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Ituran Location and Control during the 3rd quarter worth $137,000. XTX Topco Ltd grew its stake in Ituran Location and Control by 145.0% during the 3rd quarter. XTX Topco Ltd now owns 20,150 shares of the industrial products company’s stock worth $535,000 after purchasing an additional 11,927 shares in the last quarter. HighTower Advisors LLC acquired a new position in Ituran Location and Control during the 3rd quarter worth $767,000. Finally, Walleye Capital LLC grew its stake in Ituran Location and Control by 184.5% during the 3rd quarter. Walleye Capital LLC now owns 27,498 shares of the industrial products company’s stock worth $730,000 after purchasing an additional 17,834 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Ituran Location and Control Stock Performance

Shares of NASDAQ ITRN traded down $0.66 during trading on Friday, reaching $26.75. The stock had a trading volume of 76,632 shares, compared to its average volume of 57,356. Ituran Location and Control has a fifty-two week low of $24.12 and a fifty-two week high of $30.00. The business’s 50-day moving average price is $27.01 and its 200-day moving average price is $26.69. The company has a market cap of $532.06 million, a P/E ratio of 10.49 and a beta of 1.14.

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

Ituran Location and Control Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Thursday, September 26th were paid a $0.39 dividend. 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 5.83%. Ituran Location and Control’s payout ratio is presently 61.18%.

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.