StockNews.com Initiates Coverage on Iteris (NASDAQ:ITI)

StockNews.com started coverage on shares of Iteris (NASDAQ:ITI) in a report published on Tuesday morning. The brokerage issued a buy rating on the technology company’s stock.

Other equities research analysts also recently issued reports about the stock. Northland Capmk downgraded shares of Iteris from a strong-buy rating to a hold rating in a report on Friday, August 9th. Maxim Group reissued a hold rating on shares of Iteris in a report on Monday, August 12th.

Iteris Trading Down 0.1 %

Shares of Iteris stock opened at $7.05 on Tuesday. Iteris has a 12-month low of $3.97 and a 12-month high of $7.10. The company has a market cap of $302.97 million, a price-to-earnings ratio of 100.71 and a beta of 0.83. The company’s 50-day moving average price is $4.96 and its 200-day moving average price is $4.84.

Insider Activity at Iteris

In related news, major shareholder Samjo Management, Llc sold 1,200,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $7.00, for a total value of $8,400,000.00. Following the sale, the insider now directly 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 available at the SEC website. Insiders have sold 2,050,885 shares of company stock valued at $14,340,733 over the last three months. 7.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new position in Iteris during the first quarter valued at approximately $43,000. Bfsg LLC bought a new position in Iteris during the fourth quarter valued at approximately $50,000. EntryPoint Capital LLC bought a new position in Iteris during the first quarter valued at approximately $66,000. Cubist Systematic Strategies LLC bought a new position in Iteris during the second quarter valued at approximately $91,000. Finally, Perritt Capital Management Inc. grew its position in Iteris by 150.0% during the first quarter. Perritt Capital Management Inc. now owns 25,000 shares of the technology company’s stock valued at $124,000 after acquiring an additional 15,000 shares during the last quarter. 51.16% of the stock is currently owned by institutional investors.

About Iteris

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.