Private Advisor Group LLC purchased a new stake in shares of Sito Mobile Ltd (NASDAQ:SITO) in the 1st quarter, Holdings Channel reports. The fund purchased 26,300 shares of the Wireless communications provider’s stock, valued at approximately $106,000.
Several other institutional investors also recently bought and sold shares of the company. National Asset Management Inc. raised its stake in shares of Sito Mobile by 3.7% during the fourth quarter. National Asset Management Inc. now owns 707,000 shares of the Wireless communications provider’s stock valued at $4,752,000 after acquiring an additional 25,000 shares in the last quarter. EAM Investors LLC bought a new position in Sito Mobile in the fourth quarter worth approximately $2,219,000. Birchview Capital LP raised its stake in Sito Mobile by 16.7% in the first quarter. Birchview Capital LP now owns 140,000 shares of the Wireless communications provider’s stock worth $563,000 after buying an additional 20,000 shares in the last quarter. Millennium Management LLC bought a new position in Sito Mobile in the fourth quarter worth approximately $818,000. Finally, Wedbush Securities Inc. bought a new position in Sito Mobile in the first quarter worth approximately $141,000. 14.02% of the stock is owned by hedge funds and other institutional investors.
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SITO has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Sito Mobile from a “sell” rating to a “buy” rating and set a $4.50 price objective for the company in a research note on Wednesday, March 28th. Maxim Group set a $8.00 price objective on shares of Sito Mobile and gave the stock a “buy” rating in a research note on Thursday, March 22nd. Finally, ValuEngine raised shares of Sito Mobile from a “sell” rating to a “hold” rating in a research note on Friday, May 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Sito Mobile currently has a consensus rating of “Buy” and an average price target of $8.75.
Shares of Sito Mobile opened at $3.79 on Friday, Marketbeat.com reports. The company has a market capitalization of $101.74 million, a P/E ratio of -7.58 and a beta of -1.08. Sito Mobile Ltd has a 52 week low of $3.01 and a 52 week high of $8.60.
Sito Mobile (NASDAQ:SITO) last issued its quarterly earnings results on Monday, May 14th. The Wireless communications provider reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.13). The business had revenue of $11.15 million for the quarter, compared to analyst estimates of $9.25 million. Sito Mobile had a negative return on equity of 90.57% and a negative net margin of 38.36%. analysts forecast that Sito Mobile Ltd will post -0.22 EPS for the current fiscal year.
Sito Mobile Profile
SITO Mobile, Ltd. operates a mobile location-based advertising platform in the United States and Canada. Its mobile location-based advertising platform allows to transform digital marketing by delivering targeted mobile advertising campaigns based on geo-location, in-store traffic, and customer response for brands, agencies, and retailers.
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