Top 5 Stock Picks of Andrew Wiener’s Samjo Capital

4. Iteris, Inc. (NASDAQ:ITI)

Samjo Capital’s Stake Value: $8,702,000
Percentage of Samjo Capital’s Portfolio: 7.44%
Number of Hedge Fund Holders: 11

Iteris, Inc. (NASDAQ:ITI) is a company that specializes in intelligent mobility infrastructure management. By the end of the first quarter, Insider Monkey found Iteris, Inc. (NASDAQ:ITI) to be a part of 11 hedge fund portfolios. The total stakes these funds had in the company are worth $14.87 million, down from $17.43 million the prior quarter with 14 positions.

Samjo Capital is the leading shareholder of Iteris, Inc. (NASDAQ:ITI) in the first quarter of 2022, with 2.92 million shares of Iteris, Inc. (NASDAQ:ITI), worth over $8.70 million. Next on the list is Royce & Associates, which owns 844,474 shares of the company, worth $2.52 million.

B. Riley analyst Jeff Van Sinderen reiterated a Buy rating on Iteris, Inc. (NASDAQ:ITI) but cut his price target from $6 to $5 on June 2. The analyst lowered his projections to reflect supply chain-related margin pressure and delays.

Laughing Water Capital, an investment management firm, in its first quarter 2021 investor letter, mentioned Iteris, Inc. (NASDAQ:ITI). Here is what the fund said:

“Iteris Inc (ITI) – In early March, Iteris, our intelligent traffic management business, received a takeover proposal that valued the stock between $8.15 and $8.50 per share. The board rejected this proposal and elected to run a formal sale process which is ongoing. Shares remain ~25% below the rejected bid.

For several years I have written in these letters that I believed Iteris has enormous strategic value, and would ultimately be sold to a larger player. This view has been informed by conversations with industry experts, as well as comparable transaction analysis that has seen reasonably similar companies trade hands at more than 4x revenue and high teens EBITDA multiples, while subscale Iteris has lingered at less than 2x revenue and an EBITDA multiple that is essentially meaningless as Iteris has been unable to get leverage on their corporate level costs .…” (Click here to see the full text)