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Iteris, Inc. (ITI)

NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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2.8300-0.0600 (-2.08%)
At close: 04:00PM EDT
2.8300 0.00 (0.00%)
After hours: 04:01PM EDT
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  • N
    Never
    $10 million buyback

    -(BUSINESS WIRE)-- Iteris, Inc(ITI). , the world’s trusted technology ecosystem for smart mobility infrastructure management, today announced that its Board of Directors has authorized a new stock repurchase program that permits the purchase of up to $10 million of the Company’s common stock.

    The prior share repurchase program is being terminated and replaced with this new authorization. Under the new plan, management has discretion in determining the conditions under which shares may be purchased from time to time, including block trades.

    “We are committed to strategically allocating capital to investments we believe can generate value for our shareholders,” said Douglas Groves, CFO of Iteris(ITI). “The stock buyback program demonstrates our confidence in the future growth of the Company and the undervalued price of our stock.”

    Repurchases will be made in accordance with applicable securities laws in the open market, in privately negotiated transactions or through other means. Depending on acquisition opportunities, market conditions or other factors, these repurchases may commence or cease from time to time without prior notice.
  • N
    Never
    Another poster mentioned past buybacks

    So I looked them up

    I submit that the # of shares bought back is less important than the potential returns

    I found 8-23-11 with the stock at $1.15--- in the next few years it went to over $2.50 for more than a double
    The next was 11-12-2014 with the stock at $1.78 and it looks like the stock went over $8 within around 3 years

    So we had roughly 120% and 350% potential returns within 2-3 years from past buybacks

    This time it was $2.70 on 6-1-22

    So if we "get similar returns this time we are looking at possibly $6.00 to $12 within 2-3 years

    But admittedly the high end of that seems unrealistic right now

    So lets say $5.50-8.00 to be conservative

    I would be happy with $5.50-8.00 even if it took 4 years
  • N
    Never
    These insider buys plus the share buyback are what makes be believe ITI is undervalued and a double or triple is possible in the next few years

    P 2022-02-10 2022-02-14 16:04:03.0 ITERIS, INC. ITI Mooney Gerard director 5,800 $3.35 $19,430.00 53,357 view
    P 2022-02-09 2022-02-10 16:44:14.0 ITERIS, INC. ITI Groves Douglas L CFO 5,000 $3.40 $17,000.00 15,000 view
    P 2022-02-08 2022-02-09 16:06:12.0 ITERIS, INC. ITI Bergera J. Joseph CEO 10,000 $3.38 $33,800.00 102,716 view
    P 2021-12-17 2022-01-05 08:04:18.0 ITERIS, INC. ITI THOMAS TOM director 15,000 $3.82 $57,300.00 15,000 view
  • N
    Never
    i added a little more today at $276

    Brings my avg cost down to $290
  • N
    Never
    EPS after the close tomorrow - estimates are a 2 cent loss and consensus Revenue Estimate is $34.74M (+9.6% Y/Y).
  • f
    friendofthetrend
    From Laughing Water Capital:
    In our last letter, I noted that curiously management created a new, separate legal entity to house the agriculture/weather business, which suggests that an eventual sale of this business may be somewhere on their radar. Adding to the intrigue, Iteris recently hired Jim Chambers to run the agriculture/weather business. A review of Mr. Chambers’ CV reveals that of the previous companies where he was employed, four (4!) of them were acquired. It seems clear that management has positioned the agriculture business for eventual sale, and hired an executive that knows a thing or two about selling businesses. However, the company has also registered a shelf which would allow them to raise capital in a secondary offering. If the agriculture business was sold in the near term it would be unlikely that the company would need to raise additional cash, so the tea leaves are muddled. This is just fine because the company continues to execute at a very high level, and the traffic management business remains an undiscovered gem at the forefront of the future of intelligent transportation and autonomous vehicles.
  • a
    akak
    I listened to the conference call. Basically, strategic review is over. They did not receive an adequate offer. The multiple received was too low. This is a complete disappointment to be honest. It means other companies do not see a value in the long run here. Second take away is They will benefit from the infrastructure bill. But this is more of a 2023 event. they did not quantify how much they will benefit. It doesn’t seem like the infrastructure bill will be a game changer or an inflection point.So this is a long-term play, don’t expect significant price appreciation in the short run. Will continue to hold. But overall very disappointed in the tone of the conference call and outlook.
  • W
    Web
    Is this math correct: 83% of REKR shares at $16.50 is $13.69. plus 17% cash (apprx $2.80) for a total value of $16.59 per share for ITI..

    Is this in ball park? How can they reject that ITI is not trading anywhere near that value?
  • A
    Anonymous
    Anyone listening to the update today? If so, share some initial thoughts plzzz. Long and strong here!
    Bullish
  • d
    downers
    It amazes me any credible asset manager would think rekor is a good fit. IMO all they wanted was a lot of experience and tech. for FREE.
    Bullish
  • S
    Stock
    Selling our 2$ Shares that we bought today at nearly 7$ Fells Wonderful Thank you! have fun holding the bag
  • A
    Andy
    Operating loss in the fourth quarter was $2.5 million, compared with an operating loss of $2.8 million in the same quarter a year ago. Net loss in the fourth quarter was $2.4 million, or ($0.07) per share. Balance sheet continues to get worse.
  • A
    Anonymous
    Taking some lumps on the product side because of supply chain issues, just like every other company. ARR is currently comprised of about 25% of revs and growing at a nice clip (43% yoy growth is a nice number for ARR). Record backlog and net bookings, eventual infrastructure bill. A lot to like for this one in the next couple years and I expect margins to grow. GLTA
    Bullish
  • f
    friendofthetrend
    Earlier Today, JMP Initiated Iteris With A Market Outperform And $10.50 Price Target
    Eddie Staley , Benzinga Staff Writer
    January 25, 2018 11:44am

    05:05pm - January 26, 2018
  • A
    Anonymous
    Will be adding huge if they pull this down to 2.50ish. Lets go!
    Bullish
  • a
    akak
    Not sure why it drifts lower. I wonder if there are supply chain constraints
  • d
    downers
    This is a catastrophe of epic proportions! What happened?
  • A
    Andy
    Revenue decrease not good.
    Operating loss not good.
    GAAP income negative not good.
    Cash level down not good.
    non-GAAP income negative not good either.
    Maybe next year :(
  • A
    Alan
    How come CEO sold stock when it was over $7.00
  • A
    Anonymous
    About time an insider put some money down + contract news. Things are looking better....
    Bullish
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