Do You Think Ituran Location and Control Ltd. (ITRN) Has an Attractive Price to Value Opportunity?

Investment management company Vulcan Value Partners recently released its third quarter 2023 investor letter. A copy of the same can be downloaded here. The firm has five strategies, all delivering negative returns in the third quarter. The fund’s Large Cap Composite returned -4.2% net of fees and expenses, the Small Cap Composite returned -5.7% net, the Focus Composite returned -1.9% net, the Focus Plus composite returned -2.0%, and the All-Cap Composite returned -4.9% net. You can check the top 5 holdings of the fund to know its best picks in 2023.

Vulcan Value Partners highlighted stocks like Ituran Location and Control Ltd. (NASDAQ:ITRN) in the Q3 2023 investor letter. Headquartered in Azor, Israel, Ituran Location and Control Ltd. (NASDAQ:ITRN) provides location-based telematics services and machine-to-machine telematics products. On October 13, 2023, Ituran Location and Control Ltd. (NASDAQ:ITRN) stock closed at $27.91 per share. One-month return of Ituran Location and Control Ltd. (NASDAQ:ITRN) was -4.94%, and its shares gained 25.49% of their value over the last 52 weeks. Ituran Location and Control Ltd. (NASDAQ:ITRN) has a market capitalization of $561.228 million.

Vulcan Value Partners made the following comment about Ituran Location and Control Ltd. (NASDAQ:ITRN) in its Q3 2023 investor letter:

“Ituran Location and Control Ltd. (NASDAQ:ITRN) is an Israeli-based company that provides telematics services such as stolen vehicle recovery and usage-based insurance to insurance companies and individual car owners. While nothing material has changed during the past quarter, the company’s growth initiatives continue to bear fruit and the intrinsic value continues to compound. We are happy with the progress the company is making and it remains an attractive price to value opportunity in the portfolio.”

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Ituran Location and Control Ltd. (NASDAQ:ITRN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 11 hedge fund portfolios held Ituran Location and Control Ltd. (NASDAQ:ITRN) at the end of the second quarter, which was 9 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.