First Eagle Investment Management LLC Grows Stock Holdings in Iteris, Inc. (NASDAQ:ITI)

First Eagle Investment Management LLC lifted its position in Iteris, Inc. (NASDAQ:ITI) by 3.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 515,381 shares of the technology company’s stock after purchasing an additional 18,289 shares during the quarter. First Eagle Investment Management LLC’s holdings in Iteris were worth $2,232,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ITI. Public Employees Retirement System of Ohio bought a new stake in Iteris in the 1st quarter worth approximately $43,000. Bfsg LLC lifted its holdings in shares of Iteris by 31.4% in the 2nd quarter. Bfsg LLC now owns 12,720 shares of the technology company’s stock worth $55,000 after acquiring an additional 3,038 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Iteris in the 1st quarter valued at $66,000. Perritt Capital Management Inc. grew its holdings in shares of Iteris by 150.0% during the 1st quarter. Perritt Capital Management Inc. now owns 25,000 shares of the technology company’s stock valued at $124,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in Iteris by 17.5% in the 4th quarter. Panagora Asset Management Inc. now owns 32,962 shares of the technology company’s stock worth $171,000 after purchasing an additional 4,904 shares during the period. 51.16% of the stock is currently owned by institutional investors.

Iteris Stock Performance

ITI stock opened at $7.12 on Friday. The stock has a market capitalization of $305.98 million, a price-to-earnings ratio of 101.71 and a beta of 0.86. The firm’s 50-day moving average price is $6.14 and its two-hundred day moving average price is $5.12. Iteris, Inc. has a 12-month low of $3.97 and a 12-month high of $7.15.

Iteris (NASDAQ:ITI) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Iteris had a net margin of 0.80% and a return on equity of 2.02%. The business had revenue of $45.78 million for the quarter, compared to analysts’ expectations of $44.02 million. Equities analysts predict that Iteris, Inc. will post 0.18 EPS for the current year.

Insider Activity

In related news, major shareholder Samjo Management, Llc sold 1,200,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $7.00, for a total value of $8,400,000.00. Following the completion of the sale, the insider now owns 5,013,300 shares of the company’s stock, valued at $35,093,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.40% of the company’s stock.

Analyst Ratings Changes

ITI has been the subject of several analyst reports. StockNews.com began coverage on shares of Iteris in a research report on Saturday. They set a “buy” rating for the company. B. Riley restated a “neutral” rating and set a $7.20 target price (down from $8.00) on shares of Iteris in a report on Wednesday, August 21st. Northland Capmk cut Iteris from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Maxim Group reissued a “hold” rating on shares of Iteris in a research note on Monday, August 12th.

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.