Kovack Advisors Inc. purchased a new stake in Iteris Inc (NASDAQ:ITI) in the first quarter, HoldingsChannel.com reports. The fund purchased 12,675 shares of the technology company’s stock, valued at approximately $53,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Stone Ridge Asset Management LLC increased its holdings in Iteris by 72.2% during the 4th quarter. Stone Ridge Asset Management LLC now owns 20,497 shares of the technology company’s stock valued at $76,000 after acquiring an additional 8,597 shares in the last quarter. Rhumbline Advisers increased its holdings in Iteris by 52.6% during the 4th quarter. Rhumbline Advisers now owns 32,671 shares of the technology company’s stock valued at $122,000 after acquiring an additional 11,258 shares in the last quarter. Geode Capital Management LLC increased its holdings in Iteris by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 267,638 shares of the technology company’s stock valued at $998,000 after acquiring an additional 12,233 shares in the last quarter. SG Americas Securities LLC purchased a new position in Iteris during the 1st quarter valued at about $53,000. Finally, SlateStone Wealth LLC purchased a new position in Iteris during the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 37.25% of the company’s stock.
In other Iteris news, insider Neil S. Subin sold 2,551,273 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $4.25, for a total transaction of $10,842,910.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.20% of the stock is owned by company insiders.
ITI has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Iteris from a “buy” rating to a “hold” rating in a report on Tuesday, January 22nd. ValuEngine cut shares of Iteris from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Dougherty & Co reaffirmed a “buy” rating on shares of Iteris in a research note on Tuesday, April 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $6.75.
Iteris stock opened at $4.83 on Thursday. Iteris Inc has a 12-month low of $3.24 and a 12-month high of $5.99. The stock has a market cap of $173.10 million, a price-to-earnings ratio of -120.75 and a beta of 0.61.
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Iteris, Inc provides intelligent transportation systems technology solutions worldwide. The company's Roadway Sensors segment provides vehicle detection sensors and systems for traffic intersection management, communication systems, and roadway traffic data collection applications. Its products include Vantage detection system to detect vehicle presence at intersections, as well as vehicle count, speed, and other traffic data; Vantage Vector video/radar hybrid product, an vehicle detection sensor; and VantageLive!, a cloud-based platform; and Vantage systems equipped with smartcycle capability to differentiate between bicycles and other vehicles with a single video detection camera.
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