Private Management Group Inc. Sells 12,618 Shares of Iteris, Inc. (NASDAQ:ITI)

Private Management Group Inc. lessened its holdings in Iteris, Inc. (NASDAQ:ITI) by 0.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. 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. owned about 3.51% of Iteris worth $7,822,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Barclays PLC bought a new stake in Iteris during the 2nd quarter worth approximately $34,000. SG Americas Securities LLC bought a new stake in Iteris during the 3rd quarter worth approximately $52,000. Bank of New York Mellon Corp raised its stake in Iteris by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 115,339 shares of the technology company’s stock worth $478,000 after acquiring an additional 2,604 shares during the period. Strs Ohio bought a new stake in Iteris during the 3rd quarter worth approximately $390,000. Finally, Whittier Trust Co. grew its holdings in shares of Iteris by 9.3% in the third 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. Institutional investors own 51.16% of the company’s stock.

Iteris Stock Performance

NASDAQ ITI traded down $0.07 during trading hours on Wednesday, reaching $4.47. The stock had a trading volume of 118,961 shares, compared to its average volume of 124,008. The stock has a fifty day moving average of $4.89 and a 200 day moving average of $4.70. The stock has a market cap of $191.81 million, a P/E ratio of 73.67 and a beta of 0.67. Iteris, Inc. has a 52-week low of $3.72 and a 52-week high of $5.49.

Iteris (NASDAQ:ITI) last released its quarterly earnings data on Thursday, February 8th. The technology company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Iteris had a return on equity of 3.76% and a net margin of 1.45%. The business had revenue of $42.13 million for the quarter, compared to analyst estimates of $41.39 million. On average, equities research analysts forecast that Iteris, Inc. will post 0.1 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on ITI shares. B. Riley lifted their price objective on shares of Iteris from $6.00 to $8.50 and gave the stock a “buy” rating in a research note on Friday, February 9th. StockNews.com lowered shares of Iteris from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th.

Insider Activity at Iteris

In other news, major shareholder Samjo Management, Llc sold 72,000 shares of Iteris stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $5.36, for a total transaction of $385,920.00. Following the transaction, the insider now owns 6,320,800 shares in the company, valued at approximately $33,879,488. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Samjo Management, Llc sold 72,000 shares of Iteris stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $5.36, for a total transaction of $385,920.00. Following the transaction, the insider now owns 6,320,800 shares in the company, valued at approximately $33,879,488. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO J. Joseph Bergera sold 13,450 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $5.03, for a total value of $67,653.50. Following the sale, the chief executive officer now directly owns 192,238 shares of the company’s stock, valued at $966,957.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,164 shares of company stock valued at $662,009. 7.40% of the stock is owned by insiders.

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.