Clal Insurance Enterprises Holdings Ltd Cuts Holdings in A2Z Cust2Mate Solutions Corp. $AZ

Key Points

• Clal Insurance Enterprises Holdings cut its stake in A2Z Cust2Mate Solutions by 39.3% in the first quarter, selling 421,442 shares and leaving it with 651,863 shares worth about $4.1 million.
• Institutional investors remain active in the stock: several funds increased holdings sharply, and hedge funds and other institutions now own 12.64% of A2Z Cust2Mate Solutions.
• Analyst sentiment is mixed but cautious, with the stock carrying an average “Hold” rating and an average price target of $15, while the company also recently approved a $20 million share buyback.

Clal Insurance Enterprises Holdings Ltd decreased its stake in A2Z Cust2Mate Solutions Corp. (NASDAQ:AZ - Free Report) by 39.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 651,863 shares of the company's stock after selling 421,442 shares during the period. Clal Insurance Enterprises Holdings Ltd owned about 1.46% of A2Z Cust2Mate Solutions worth $4,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Alyeska Investment Group L.P. grew its position in A2Z Cust2Mate Solutions by 110.4% in the third quarter. Alyeska Investment Group L.P. now owns 2,000,987 shares of the company's stock worth $15,988,000 after acquiring an additional 1,050,000 shares in the last quarter. Shay Capital LLC raised its position in A2Z Cust2Mate Solutions by 133.6% during the third quarter. Shay Capital LLC now owns 1,600,000 shares of the company's stock valued at $12,784,000 after purchasing an additional 915,000 shares in the last quarter. Private Advisor Group LLC lifted its stake in A2Z Cust2Mate Solutions by 331.3% during the fourth quarter. Private Advisor Group LLC now owns 862,765 shares of the company's stock worth $5,617,000 after purchasing an additional 662,718 shares during the last quarter. Weybosset Research & Management LLC lifted its stake in A2Z Cust2Mate Solutions by 71.6% during the first quarter. Weybosset Research & Management LLC now owns 1,542,249 shares of the company's stock worth $10,287,000 after purchasing an additional 643,469 shares during the last quarter. Finally, Jain Global LLC bought a new stake in A2Z Cust2Mate Solutions during the third quarter worth about $2,617,000. Hedge funds and other institutional investors own 12.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wall Street Zen upgraded A2Z Cust2Mate Solutions from a "sell" rating to a "hold" rating in a research report on Saturday, April 18th. Zacks Research downgraded A2Z Cust2Mate Solutions from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of A2Z Cust2Mate Solutions in a research note on Friday. Finally, Northland Securities started coverage on shares of A2Z Cust2Mate Solutions in a research report on Friday, March 27th. They set an "outperform" rating and a $15.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $15.00.

A2Z Cust2Mate Solutions Stock Performance

NASDAQ:AZ opened at $5.57 on Wednesday. A2Z Cust2Mate Solutions Corp. has a fifty-two week low of $4.97 and a fifty-two week high of $11.40. The firm has a market cap of $248.09 million, a PE ratio of -5.46 and a beta of 1.16. The business has a 50 day moving average price of $6.02 and a 200-day moving average price of $6.51.

A2Z Cust2Mate Solutions (NASDAQ:AZ - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.03). A2Z Cust2Mate Solutions had a negative return on equity of 62.55% and a negative net margin of 415.62%.The firm had revenue of $3.32 million during the quarter, compared to analysts' expectations of $3.06 million. Research analysts predict that A2Z Cust2Mate Solutions Corp. will post -0.51 EPS for the current year.

A2Z Cust2Mate Solutions declared that its Board of Directors has approved a stock repurchase plan on Friday, March 27th that permits the company to buyback $20.00 million in shares. This buyback authorization permits the company to purchase up to 7.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

About A2Z Cust2Mate Solutions

A2Z Smart Technologies Corp., a technology company, focuses on the development and commercialization of retail smart cart solutions for grocery stores and supermarkets in Israel and internationally. The company operates through three segments: Precision Metal Parts, Advanced Engineering, and Smart Carts. It offers Cust2Mate system, which incorporates a smart cart that automatically calculates the value of the customers purchases in their smart cart without having to unload and reload their purchases at a customer checkout point.

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