Blair William & Co. IL Has $3.96 Million Stake in PowerFleet, Inc. $AIOT

Blair William & Co. IL cut its stake in shares of PowerFleet, Inc. (NASDAQ:AIOT) by 8.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 917,858 shares of the company’s stock after selling 84,791 shares during the quarter. Blair William & Co. IL’s holdings in PowerFleet were worth $3,956,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in PowerFleet during the 1st quarter worth about $46,000. Virtu Financial LLC acquired a new position in PowerFleet during the 1st quarter worth about $62,000. Landscape Capital Management L.L.C. acquired a new position in PowerFleet during the 1st quarter worth about $78,000. Teacher Retirement System of Texas acquired a new position in PowerFleet during the 1st quarter worth about $95,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in PowerFleet by 14.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 20,242 shares of the company’s stock worth $111,000 after buying an additional 2,594 shares during the period. 73.40% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PowerFleet

In other news, Director Michael J. Mcconnell bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average cost of $4.64 per share, with a total value of $46,400.00. Following the transaction, the director directly owned 28,028 shares of the company’s stock, valued at approximately $130,049.92. This represents a 55.47% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven Mark Towe bought 23,157 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of $4.42 per share, with a total value of $102,353.94. Following the completion of the transaction, the chief executive officer directly owned 2,457,923 shares in the company, valued at $10,864,019.66. This represents a 0.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on AIOT shares. Wall Street Zen downgraded PowerFleet from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings reissued a “sell (d-)” rating on shares of PowerFleet in a research note on Wednesday, October 8th. Barrington Research reissued an “outperform” rating and issued a $15.00 price objective on shares of PowerFleet in a research note on Tuesday, September 23rd. Finally, Zacks Research downgraded PowerFleet from a “hold” rating to a “strong sell” rating in a research note on Friday, August 15th. Five research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, PowerFleet has an average rating of “Hold” and an average target price of $10.50.

PowerFleet Stock Up 10.3%

Shares of NASDAQ:AIOT opened at $5.14 on Tuesday. The company has a market capitalization of $685.88 million, a price-to-earnings ratio of -17.13 and a beta of 1.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.07 and a quick ratio of 0.92. The business’s 50-day moving average is $4.86 and its 200-day moving average is $4.80. PowerFleet, Inc. has a 1 year low of $3.70 and a 1 year high of $8.71.

About PowerFleet

PowerFleet, Inc engages in the provision of fleet management solutions for logistics, industrial, and vehicles. It offers wireless Internet of Things and machine to machine solutions for securing, controlling, tracking, and managing enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicle and truck fleets.