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

Several other research analysts also recently commented on the company. BidaskClub raised MiX Telematics from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Zacks Investment Research lowered MiX Telematics from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, Canaccord Genuity boosted their target price on MiX Telematics from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $13.00.

Shares of MiX Telematics (NYSE MIXT) opened at $11.41 on Friday. The firm has a market capitalization of $255.30, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 1.48 and a beta of 0.88. MiX Telematics has a twelve month low of $5.59 and a twelve month high of $11.90.

A number of hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in shares of MiX Telematics by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 58,292 shares of the technology company’s stock worth $367,000 after purchasing an additional 1,715 shares during the period. Renaissance Technologies LLC increased its stake in MiX Telematics by 53.6% in the first quarter. Renaissance Technologies LLC now owns 543,510 shares of the technology company’s stock valued at $3,424,000 after acquiring an additional 189,710 shares during the last quarter. Russell Investments Group Ltd. increased its stake in MiX Telematics by 197.9% in the second quarter. Russell Investments Group Ltd. now owns 58,077 shares of the technology company’s stock valued at $457,000 after acquiring an additional 38,582 shares during the last quarter. Acadian Asset Management LLC increased its stake in MiX Telematics by 31.1% in the second quarter. Acadian Asset Management LLC now owns 520,875 shares of the technology company’s stock valued at $4,105,000 after acquiring an additional 123,643 shares during the last quarter. Finally, Boston Partners bought a new position in MiX Telematics in the second quarter valued at $485,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

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MiX Telematics Company Profile

MiX Telematics Limited is a South Africa-based provider of fleet and mobile asset management solutions delivered as Software-as-a-Service (SaaS) to customers. The Company’s operating segments include Africa, Europe, Americas, Middle East and Australasia, Brazil and Central Services Organization. The Company’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, risk management and security.

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

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