MiX Telematics (MIXT) Rating Lowered to Hold at ValuEngine

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MiX Telematics (NYSE:MIXT) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other brokerages have also weighed in on MIXT. Zacks Investment Research upgraded shares of MiX Telematics from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Tuesday, May 15th. Canaccord Genuity lifted their price target on shares of MiX Telematics from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, June 14th.

Shares of MIXT opened at $15.00 on Friday. MiX Telematics has a twelve month low of $8.80 and a twelve month high of $21.00. The firm has a market capitalization of $377.26 million, a PE ratio of 25.86 and a beta of 0.45.

A number of large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in MiX Telematics by 21.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,100,200 shares of the technology company’s stock worth $19,496,000 after acquiring an additional 194,224 shares in the last quarter. Acadian Asset Management LLC raised its stake in MiX Telematics by 5.6% during the 2nd quarter. Acadian Asset Management LLC now owns 915,774 shares of the technology company’s stock worth $16,229,000 after acquiring an additional 48,952 shares in the last quarter. Summit Trail Advisors LLC raised its stake in MiX Telematics by 1,425.2% during the 1st quarter. Summit Trail Advisors LLC now owns 258,537 shares of the technology company’s stock worth $259,000 after acquiring an additional 241,586 shares in the last quarter. Millennium Management LLC raised its stake in MiX Telematics by 153.4% during the 2nd quarter. Millennium Management LLC now owns 219,264 shares of the technology company’s stock worth $3,885,000 after acquiring an additional 132,747 shares in the last quarter. Finally, Quantum Capital Management raised its stake in MiX Telematics by 34.1% during the 1st quarter. Quantum Capital Management now owns 123,591 shares of the technology company’s stock worth $1,922,000 after acquiring an additional 31,460 shares in the last quarter. Hedge funds and other institutional investors own 32.50% of the company’s stock.

About MiX Telematics

MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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