Private Management Group Inc. Trims Stake in Iteris, Inc. (NASDAQ:ITI)

Private Management Group Inc. lessened its stake in Iteris, Inc. (NASDAQ:ITI) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,504,303 shares of the technology company’s stock after selling 12,618 shares during the period. Private Management Group Inc.’s holdings in Iteris were worth $7,822,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ITI. Barclays PLC purchased a new position in Iteris during the 2nd quarter worth approximately $34,000. Allspring Global Investments Holdings LLC purchased a new position in Iteris during the 3rd quarter worth approximately $46,000. SG Americas Securities LLC purchased a new position in shares of Iteris during the 3rd quarter valued at approximately $52,000. Panagora Asset Management Inc. purchased a new position in shares of Iteris during the 3rd quarter valued at approximately $116,000. Finally, Whittier Trust Co. increased its holdings in shares of Iteris by 9.3% during the 3rd quarter. Whittier Trust Co. now owns 44,602 shares of the technology company’s stock valued at $185,000 after purchasing an additional 3,794 shares in the last quarter. Hedge funds and other institutional investors own 51.16% of the company’s stock.

Wall Street Analyst Weigh In

ITI has been the subject of several recent analyst reports. B. Riley boosted their price target on shares of Iteris from $6.00 to $8.50 and gave the stock a “buy” rating in a report on Friday, February 9th. StockNews.com lowered shares of Iteris from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th.

Iteris Stock Down 1.5 %

Iteris stock traded down $0.07 during mid-day trading on Wednesday, hitting $4.47. The company had a trading volume of 118,961 shares, compared to its average volume of 124,008. The stock has a market cap of $191.81 million, a price-to-earnings ratio of 73.67 and a beta of 0.67. Iteris, Inc. has a 1 year low of $3.72 and a 1 year high of $5.49. The business has a fifty day moving average of $4.89 and a 200 day moving average of $4.70.

Iteris (NASDAQ:ITI) last announced its earnings results on Thursday, February 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The business had revenue of $42.13 million for the quarter, compared to analyst estimates of $41.39 million. Iteris had a net margin of 1.45% and a return on equity of 3.76%. Equities analysts anticipate that Iteris, Inc. will post 0.1 earnings per share for the current year.

Insider Transactions at Iteris

In related news, major shareholder Samjo Management, Llc sold 31,000 shares of Iteris stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.93, for a total value of $152,830.00. Following the transaction, the insider now directly owns 6,432,800 shares in the company, valued at approximately $31,713,704. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Iteris news, major shareholder Samjo Management, Llc sold 31,000 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $4.93, for a total value of $152,830.00. Following the completion of the sale, the insider now owns 6,432,800 shares of the company’s stock, valued at $31,713,704. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO J. Joseph Bergera sold 13,450 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $5.03, for a total value of $67,653.50. Following the completion of the sale, the chief executive officer now directly owns 192,238 shares of the company’s stock, valued at approximately $966,957.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,164 shares of company stock worth $662,009. Insiders own 7.40% of the company’s stock.

Iteris Profile

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.