Clal Insurance Enterprises Holdings Ltd Invests $3.18 Million in A2Z Cust2Mate Solutions Corp. $AZ

Key Points

• Clal Insurance Enterprises Holdings acquired 546,863 shares of A2Z Cust2Mate Solutions, valued at approximately $3.18 million, giving it a 1.23% stake. Institutional investors collectively own 12.64% of the company.
• A2Z reported quarterly revenue of $5.9 million and an adjusted loss of $0.16 per share, beating analyst estimates, but continued to post substantial negative margins and return on equity.
• The company authorized a $20 million share buyback, allowing repurchases of up to 7.2% of outstanding shares. Analysts’ consensus rating is “Hold,” with a $15 target price versus a recent share price of $7.16.

Clal Insurance Enterprises Holdings Ltd acquired a new stake in A2Z Cust2Mate Solutions Corp. (NASDAQ:AZ - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 546,863 shares of the company's stock, valued at approximately $3,183,000. Clal Insurance Enterprises Holdings Ltd owned approximately 1.23% of A2Z Cust2Mate Solutions at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AZ. Luxor Capital Group LP purchased a new stake in shares of A2Z Cust2Mate Solutions in the 1st quarter worth approximately $19,212,000. Weybosset Research & Management LLC increased its holdings 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 valued at $10,287,000 after buying an additional 643,469 shares during the period. T3 Companies LLC purchased a new position in A2Z Cust2Mate Solutions during the fourth quarter valued at approximately $1,113,000. Private Advisor Group LLC raised its stake in A2Z Cust2Mate Solutions by 12.7% in the first quarter. Private Advisor Group LLC now owns 971,946 shares of the company's stock worth $6,483,000 after buying an additional 109,181 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in A2Z Cust2Mate Solutions by 9.3% during the third quarter. Mercer Global Advisors Inc. ADV now owns 60,638 shares of the company's stock worth $484,000 after buying an additional 5,148 shares during the period. 12.64% of the stock is owned by hedge funds and other institutional investors.

A2Z Cust2Mate Solutions Stock Performance

Shares of A2Z Cust2Mate Solutions stock opened at $7.16 on Monday. The firm's 50 day simple moving average is $6.01 and its two-hundred day simple moving average is $6.35. The firm has a market capitalization of $318.91 million, a price-to-earnings ratio of -8.63 and a beta of 1.16. A2Z Cust2Mate Solutions Corp. has a 12-month low of $4.97 and a 12-month high of $9.82. The company has a current ratio of 7.52, a quick ratio of 6.56 and a debt-to-equity ratio of 0.02.

A2Z Cust2Mate Solutions (NASDAQ:AZ - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.02. A2Z Cust2Mate Solutions had a negative net margin of 241.67% and a negative return on equity of 49.91%. The business had revenue of $5.90 million during the quarter, compared to the consensus estimate of $3.54 million. Analysts predict that A2Z Cust2Mate Solutions Corp. will post -0.52 EPS for the current year.

A2Z Cust2Mate Solutions announced that its board has authorized a stock buyback plan on Monday, July 6th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 7.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Zacks Research upgraded A2Z Cust2Mate Solutions from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of A2Z Cust2Mate Solutions in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, A2Z Cust2Mate Solutions has a consensus rating of "Hold" and a consensus target price of $15.00.

A2Z Cust2Mate Solutions Company Profile

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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