Short Interest in Ituran Location and Control Ltd. (NASDAQ:ITRN) Increases By 119.5%


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Ituran Location and Control Ltd. (NASDAQ:ITRN) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 64,100 shares, an increase of 119.5% from the December 15th total of 29,200 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average trading volume of 54,700 shares, the short-interest ratio is presently 1.2 days.

Shares of Ituran Location and Control stock traded up $0.21 on Thursday, reaching $19.36. 135 shares of the company were exchanged, compared to its average volume of 36,176. Ituran Location and Control has a 1-year low of $11.01 and a 1-year high of $26.35. The company has a market cap of $454.38 million, a P/E ratio of -70.92 and a beta of 1.39. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.49 and a quick ratio of 1.28. The stock’s 50 day moving average price is $18.66 and its 200-day moving average price is $15.62.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings results on Tuesday, November 17th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.13. The firm had revenue of $60.33 million during the quarter, compared to the consensus estimate of $59.10 million. Ituran Location and Control had a positive return on equity of 23.94% and a negative net margin of 2.41%. On average, research analysts predict that Ituran Location and Control will post 1.47 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. California Public Employees Retirement System boosted its holdings in Ituran Location and Control by 2.8% in the third quarter. California Public Employees Retirement System now owns 44,423 shares of the industrial products company’s stock valued at $618,000 after purchasing an additional 1,200 shares in the last quarter. State of Tennessee Treasury Department acquired a new stake in shares of Ituran Location and Control in the 2nd quarter valued at approximately $26,000. NEXT Financial Group Inc acquired a new stake in shares of Ituran Location and Control in the 3rd quarter valued at approximately $28,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Ituran Location and Control by 21.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 35,504 shares of the industrial products company’s stock valued at $494,000 after buying an additional 6,200 shares during the period. Finally, Pzena Investment Management LLC lifted its holdings in shares of Ituran Location and Control by 43.6% in the 3rd quarter. Pzena Investment Management LLC now owns 20,472 shares of the industrial products company’s stock valued at $285,000 after buying an additional 6,220 shares during the period. 62.51% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on ITRN. ValuEngine upgraded shares of Ituran Location and Control from a “sell” rating to a “hold” rating in a report on Tuesday, December 22nd. BidaskClub upgraded shares of Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a report on Friday, December 25th. Zacks Investment Research upgraded shares of Ituran Location and Control from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Tuesday, October 27th. Finally, TheStreet raised Ituran Location and Control from a “d+” rating to a “c-” rating in a research report on Wednesday, November 18th. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $16.00.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd., together with its subsidiaries, provides location-based services and wireless communications products. The company's Location-Based Services segment provides stolen vehicle recovery and tracking services, which 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 personal locator services that allow customers to protect valuable merchandise and equipment.

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