SITO Mobile, Ltd. (SITO) Holdings Raised by National Asset Management Inc.
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.
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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.
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