Ituran Location and Control (NASDAQ:ITRN) Shares Gap Up – Should You Buy?

Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) gapped up prior to trading on Wednesday . The stock had previously closed at $41.42, but opened at $43.22. Ituran Location and Control shares last traded at $42.12, with a volume of 219,074 shares changing hands.

Ituran Location and Control Stock Performance

The stock has a fifty day simple moving average of $32.93 and a two-hundred day simple moving average of $29.52. The stock has a market cap of $825.83 million, a price-to-earnings ratio of 15.91 and a beta of 1.15.

Ituran Location and Control (NASDAQ:ITRN) last issued its earnings results on Thursday, November 21st. The industrial products company reported $0.69 earnings per share for the quarter. Ituran Location and Control had a return on equity of 28.31% and a net margin of 15.65%.

Institutional Investors Weigh In On Ituran Location and Control

Large investors have recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in shares of Ituran Location and Control by 63.4% during the 3rd quarter. Blue Trust Inc. now owns 1,541 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 598 shares in the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of Ituran Location and Control during the 3rd quarter valued at $228,000. Semanteon Capital Management LP acquired a new stake in shares of Ituran Location and Control during the 3rd quarter valued at $225,000. Meitav Investment House Ltd. acquired a new stake in shares of Ituran Location and Control during the 3rd quarter valued at $250,000. Finally, Rice Hall James & Associates LLC boosted its holdings in shares of Ituran Location and Control by 16.4% during the 3rd quarter. Rice Hall James & Associates LLC now owns 516,699 shares of the industrial products company’s stock valued at $13,713,000 after acquiring an additional 72,656 shares in the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd., together with its subsidiaries, provides location based telematics services and machine-to-machine telematics products. It operates through two segments, Telematics Services and Telematics Products. The Telematics services segment offers stolen vehicle recovery and tracking services, which enables to locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and locator services that allow customers to protect valuable merchandise and equipment.