Neil S. Subin Sells 91,885 Shares of Iteris Inc (ITI) Stock

Iteris Inc (NASDAQ:ITI) major shareholder Neil S. Subin sold 91,885 shares of the stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $4.06, for a total transaction of $373,053.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

ITI opened at $4.13 on Wednesday. Iteris Inc has a 1-year low of $3.62 and a 1-year high of $7.88. The company has a market capitalization of $134.47 million, a PE ratio of -102.75 and a beta of -0.07.

Iteris (NASDAQ:ITI) last posted its quarterly earnings results on Tuesday, August 7th. The technology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Iteris had a negative net margin of 4.54% and a negative return on equity of 10.36%. The company had revenue of $25.48 million for the quarter, compared to the consensus estimate of $24.22 million. Sell-side analysts anticipate that Iteris Inc will post -0.08 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of ITI. New York State Common Retirement Fund boosted its stake in shares of Iteris by 42.1% in the 1st quarter. New York State Common Retirement Fund now owns 35,659 shares of the technology company’s stock valued at $177,000 after purchasing an additional 10,559 shares in the last quarter. Private Management Group Inc. acquired a new stake in shares of Iteris in the 2nd quarter valued at approximately $517,000. Northern Trust Corp boosted its stake in shares of Iteris by 13.0% in the 1st quarter. Northern Trust Corp now owns 321,393 shares of the technology company’s stock valued at $1,595,000 after purchasing an additional 37,080 shares in the last quarter. Ardsley Advisory Partners boosted its stake in shares of Iteris by 120.1% in the 2nd quarter. Ardsley Advisory Partners now owns 460,000 shares of the technology company’s stock valued at $2,226,000 after purchasing an additional 251,000 shares in the last quarter. Finally, Cowen Prime Services LLC boosted its stake in shares of Iteris by 3.2% in the 2nd quarter. Cowen Prime Services LLC now owns 897,692 shares of the technology company’s stock valued at $4,345,000 after purchasing an additional 28,200 shares in the last quarter. Institutional investors own 33.51% of the company’s stock.

A number of equities research analysts have issued reports on the stock. Dougherty & Co reiterated a “buy” rating on shares of Iteris in a research note on Tuesday, September 4th. Zacks Investment Research downgraded shares of Iteris from a “buy” rating to a “hold” rating in a research note on Thursday, October 25th. Finally, ValuEngine downgraded shares of Iteris from a “buy” rating to a “hold” rating in a research note on Saturday, September 1st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $8.31.

About Iteris

Iteris, Inc provides intelligent transportation systems technology solutions worldwide. The company's Roadway Sensors segment provides vehicle detection sensors and systems for traffic intersection management, communication systems, and roadway traffic data collection applications. Its products include Vantage detection system to detect vehicle presence at intersections, as well as vehicle count, speed, and other traffic data; Vantage Vector video/radar hybrid product, an vehicle detection sensor; and VantageLive!, a cloud-based platform; and Vantage systems equipped with smartcycle capability to differentiate between bicycles and other vehicles with a single video detection camera.

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