Wedbush Securities Inc. Sells 57,400 Shares of Sito Mobile Ltd (NASDAQ:SITO)

Wedbush Securities Inc. cut its holdings in shares of Sito Mobile Ltd (NASDAQ:SITO) by 39.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,105 shares of the Wireless communications provider’s stock after selling 57,400 shares during the period. Wedbush Securities Inc. owned approximately 0.35% of Sito Mobile worth $70,000 as of its most recent filing with the Securities and Exchange Commission.

A number of analysts have recently commented on SITO shares. Zacks Investment Research lowered Sito Mobile from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. ValuEngine upgraded Sito Mobile from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Finally, Lake Street Capital lowered Sito Mobile from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $6.00.

SITO opened at $0.78 on Wednesday. Sito Mobile Ltd has a 52-week low of $0.55 and a 52-week high of $2.46. The firm has a market capitalization of $19.87 million, a PE ratio of -1.14 and a beta of 1.00. The business’s 50-day simple moving average is $0.72 and its 200 day simple moving average is $1.35.

Sito Mobile Company Profile

SITO Mobile, Ltd. provides advertisement delivery, measurement and attribution, and consumer insights using its proprietary location-based marketing intelligence platform in the United States and Canada. It offers Ad Placement, which delivers advertisements on behalf of its customers to audiences of existing and prospective consumers in a privacy compliant manner; and advertisements across television, desktop, social media, and digital out of home platforms.

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Institutional Ownership by Quarter for Sito Mobile (NASDAQ:SITO)

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