MIND C.T.I. (NASDAQ:MNDO) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

MIND C.T.I. Ltd (NASDAQ:MNDO)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.99 and traded as high as $2.00. MIND C.T.I. shares last traded at $1.98, with a volume of 47,231 shares changing hands.

MIND C.T.I. Stock Down 0.8 %

The firm has a market capitalization of $39.75 million, a PE ratio of 8.98 and a beta of 0.76. The stock has a 50-day moving average price of $2.04 and a 200 day moving average price of $1.99.

MIND C.T.I. (NASDAQ:MNDO) last issued its quarterly earnings results on Tuesday, March 4th. The information technology services provider reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $5.20 million for the quarter. MIND C.T.I. had a return on equity of 21.27% and a net margin of 22.08%.

MIND C.T.I. Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, April 10th. Stockholders of record on Tuesday, March 25th will be paid a $0.22 dividend. This represents a dividend yield of 10.9%. The ex-dividend date is Tuesday, March 25th. MIND C.T.I.’s dividend payout ratio is presently 100.00%.

Institutional Trading of MIND C.T.I.

A hedge fund recently raised its stake in MIND C.T.I. stock. Northern Trust Corp lifted its position in MIND C.T.I. Ltd (NASDAQ:MNDO) by 91.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,009 shares of the information technology services provider’s stock after acquiring an additional 36,781 shares during the period. Northern Trust Corp owned 0.38% of MIND C.T.I. worth $152,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 24.32% of the stock is currently owned by institutional investors.

About MIND C.T.I.

MIND C.T.I. Ltd., together with its subsidiaries, develops, markets, sells, and implements billing and customer care software solutions for communication service providers in the Americas, Europe, Israel, the Asia Pacific, and Africa. It operates in two segments, Billing and Related Services, and Messaging.