First Eagle Investment Management LLC Raises Stake in Iteris, Inc. (NASDAQ:ITI)

First Eagle Investment Management LLC increased its stake in shares of Iteris, Inc. (NASDAQ:ITI) by 3.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 515,381 shares of the technology company’s stock after buying an additional 18,289 shares during the period. First Eagle Investment Management LLC owned about 1.20% of Iteris worth $2,232,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Iteris by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 2,454,413 shares of the technology company’s stock valued at $12,125,000 after acquiring an additional 41,618 shares during the period. Private Management Group Inc. lifted its stake in Iteris by 13.3% in the second quarter. Private Management Group Inc. now owns 1,626,954 shares of the technology company’s stock valued at $7,045,000 after purchasing an additional 191,511 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Iteris by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,103,776 shares of the technology company’s stock valued at $4,779,000 after purchasing an additional 43,493 shares during the period. Renaissance Technologies LLC increased its position in Iteris by 24.2% in the second quarter. Renaissance Technologies LLC now owns 375,885 shares of the technology company’s stock worth $1,628,000 after buying an additional 73,300 shares during the last quarter. Finally, Bouvel Investment Partners LLC raised its stake in shares of Iteris by 2.3% in the first quarter. Bouvel Investment Partners LLC now owns 301,740 shares of the technology company’s stock valued at $1,491,000 after buying an additional 6,850 shares during the period. Institutional investors own 51.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ITI shares. StockNews.com began coverage on Iteris in a report on Saturday. They issued a “buy” rating for the company. Maxim Group reiterated a “hold” rating on shares of Iteris in a research note on Monday, August 12th. B. Riley restated a “neutral” rating and set a $7.20 price target (down from $8.00) on shares of Iteris in a research note on Wednesday, August 21st. Finally, Northland Capmk lowered Iteris from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th.

Insider Buying and Selling

In other Iteris news, major shareholder Samjo Management, Llc sold 1,200,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 5,013,300 shares of the company’s stock, valued at approximately $35,093,100. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 7.40% of the stock is owned by company insiders.

Iteris Stock Performance

Shares of NASDAQ:ITI opened at $7.12 on Friday. The company has a 50 day moving average of $6.14 and a 200 day moving average of $5.12. The stock has a market cap of $305.98 million, a P/E ratio of 101.71 and a beta of 0.86. Iteris, Inc. has a 12 month low of $3.97 and a 12 month high of $7.15.

Iteris (NASDAQ:ITI) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.01 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 firm had revenue of $45.78 million for the quarter, compared to analysts’ expectations of $44.02 million. On average, equities analysts forecast that Iteris, Inc. will post 0.18 earnings per share for the current fiscal year.

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.