Los Angeles Capital Management LLC Buys New Stake in PowerFleet, Inc. $AIOT

Los Angeles Capital Management LLC purchased a new position in shares of PowerFleet, Inc. (NASDAQ:AIOT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,500 shares of the company’s stock, valued at approximately $119,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Corebridge Financial Inc. raised its holdings in shares of PowerFleet by 4.3% in the 1st quarter. Corebridge Financial Inc. now owns 49,009 shares of the company’s stock valued at $269,000 after buying an additional 2,036 shares during the period. Inspire Investing LLC grew its position in PowerFleet by 4.0% in the 1st quarter. Inspire Investing LLC now owns 62,253 shares of the company’s stock valued at $342,000 after acquiring an additional 2,419 shares in the last quarter. Spire Wealth Management increased its stake in PowerFleet by 39.6% during the second quarter. Spire Wealth Management now owns 12,750 shares of the company’s stock worth $55,000 after purchasing an additional 3,620 shares during the period. Virtu Financial LLC acquired a new stake in shares of PowerFleet during the first quarter worth about $62,000. Finally, Bfsg LLC boosted its stake in shares of PowerFleet by 41.1% in the second quarter. Bfsg LLC now owns 39,170 shares of the company’s stock valued at $169,000 after purchasing an additional 11,404 shares during the period. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AIOT has been the topic of several recent research reports. William Blair reaffirmed an “outperform” rating on shares of PowerFleet in a research note on Tuesday, November 11th. Barrington Research restated an “outperform” rating and issued a $15.00 price target on shares of PowerFleet in a research note on Friday, November 7th. Wall Street Zen cut PowerFleet from a “hold” rating to a “sell” rating in a research note on Sunday, November 2nd. Zacks Research upgraded PowerFleet from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, PowerFleet presently has an average rating of “Moderate Buy” and a consensus target price of $10.50.

PowerFleet Price Performance

Shares of AIOT opened at $4.50 on Wednesday. The firm has a market capitalization of $602.21 million, a price-to-earnings ratio of -15.00 and a beta of 1.35. The firm’s fifty day simple moving average is $5.17 and its 200-day simple moving average is $4.84. PowerFleet, Inc. has a twelve month low of $3.70 and a twelve month high of $8.71. The company has a current ratio of 1.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.51.

PowerFleet (NASDAQ:AIOT) last posted its earnings results on Monday, November 10th. The company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. PowerFleet had a negative return on equity of 8.56% and a negative net margin of 9.95%.The firm had revenue of $111.68 million for the quarter, compared to analyst estimates of $105.51 million. PowerFleet has set its FY 2025 guidance at EPS. FY 2026 guidance at EPS. Equities analysts forecast that PowerFleet, Inc. will post -0.32 EPS for the current fiscal year.

PowerFleet Profile

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.