National Asset Management Inc. raised its holdings in shares of SITO Mobile, Ltd. (NASDAQ:SITO) by 270.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 500,000 shares of the Wireless communications provider’s stock after purchasing an additional 365,000 shares during the quarter. National Asset Management Inc. owned 2.42% of SITO Mobile worth $1,855,000 at the end of the most recent quarter.

Separately, Regentatlantic Capital LLC grew its stake in SITO Mobile by 9.5% during the 2nd quarter. Regentatlantic Capital LLC now owns 88,079 shares of the Wireless communications provider’s stock valued at $327,000 after purchasing an additional 7,673 shares in the last quarter. 13.83% of the stock is currently owned by institutional investors and hedge funds.

SITO has been the subject of a number of recent analyst reports. Maxim Group restated a “buy” rating and set a $8.00 price objective (up previously from $5.00) on shares of SITO Mobile in a research note on Wednesday, September 27th. Zacks Investment Research lowered SITO Mobile from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. ValuEngine upgraded SITO Mobile from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. Ladenburg Thalmann Financial Services restated a “buy” rating and set a $7.80 price objective on shares of SITO Mobile in a research note on Wednesday, August 16th. Finally, Craig Hallum lowered SITO Mobile from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $5.95.

In other SITO Mobile news, Director Chester Petrow acquired 68,800 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were acquired at an average cost of $3.98 per share, for a total transaction of $273,824.00. Following the completion of the purchase, the director now owns 286,968 shares of the company’s stock, valued at approximately $1,142,132.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.50% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This report was first posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this report on another domain, it was stolen and republished in violation of international copyright law. The original version of this report can be read at https://theolympiareport.com/2017/10/12/sito-mobile-ltd-sito-holdings-raised-by-national-asset-management-inc.html.

Shares of SITO Mobile, Ltd. (NASDAQ:SITO) traded down 2.52% during midday trading on Thursday, reaching $6.96. The company’s stock had a trading volume of 135,514 shares. The stock’s 50-day moving average is $5.39 and its 200 day moving average is $4.20. SITO Mobile, Ltd. has a 12 month low of $1.71 and a 12 month high of $7.49. The stock’s market capitalization is $152.47 million.

SITO Mobile (NASDAQ:SITO) last posted its quarterly earnings data on Thursday, August 17th. The Wireless communications provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The business had revenue of $10.80 million during the quarter, compared to the consensus estimate of $10.75 million. SITO Mobile had a negative return on equity of 24.74% and a negative net margin of 20.97%. On average, analysts expect that SITO Mobile, Ltd. will post ($0.37) earnings per share for the current fiscal year.

SITO Mobile Profile

SITO Mobile, Ltd. operates a mobile location-based advertising platform serving businesses, advertisers and brands. The Company’s offerings include SITO Location-Based Advertising and SITO Mobile Messaging. SITO Location-Based Advertising delivers display advertisements and videos on behalf of advertisers, including various features, such as Geo-fencing, Verified walk-in, Behavioral Targeting, and Analytics and Optimization.

Want to see what other hedge funds are holding SITO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SITO Mobile, Ltd. (NASDAQ:SITO).

Institutional Ownership by Quarter for SITO Mobile (NASDAQ:SITO)

Receive News & Ratings for SITO Mobile Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SITO Mobile Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.