AEGON ASSET MANAGEMENT UK Plc Buys New Holdings in Powerfleet, Inc. (NASDAQ:AIOT)

AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT) during the 4th quarter, Holdings Channel.com reports. The fund purchased 1,664,189 shares of the company’s stock, valued at approximately $11,034,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AIOT. Inspire Investing LLC acquired a new position in shares of Powerfleet in the fourth quarter worth about $398,000. SG Americas Securities LLC acquired a new position in Powerfleet in the 4th quarter worth about $228,000. Financial Management Professionals Inc. acquired a new position in Powerfleet in the 4th quarter worth about $50,000. Yarbrough Capital LLC purchased a new position in Powerfleet during the fourth quarter worth approximately $372,000. Finally, Kopion Asset Management LLC acquired a new stake in Powerfleet in the fourth quarter valued at approximately $7,361,000. 73.40% of the stock is owned by institutional investors and hedge funds.

Powerfleet Stock Down 0.6 %

Shares of NASDAQ:AIOT opened at $6.35 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25. Powerfleet, Inc. has a 1 year low of $2.85 and a 1 year high of $7.38. The stock has a 50 day moving average price of $6.57.

Powerfleet (NASDAQ:AIOT) last announced its earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $77.02 million for the quarter, compared to the consensus estimate of $74.54 million. During the same quarter in the previous year, the business posted ($0.14) earnings per share. As a group, equities research analysts anticipate that Powerfleet, Inc. will post -0.14 EPS for the current year.

Insider Buying and Selling at Powerfleet

In other news, insider Catherine J. Lewis sold 82,010 shares of Powerfleet stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $7.05, for a total transaction of $578,170.50. Following the transaction, the insider now owns 240,962 shares in the company, valued at $1,698,782.10. The trade was a 25.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.79% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AIOT has been the topic of a number of recent analyst reports. Barrington Research increased their target price on Powerfleet from $10.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Northland Securities lifted their target price on shares of Powerfleet from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, William Blair reissued an “outperform” rating on shares of Powerfleet in a research note on Thursday, November 21st.

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.