Dimensional Fund Advisors LP Grows Stock Position in PowerFleet, Inc. $AIOT

Key Points

• Dimensional Fund Advisors increased its PowerFleet stake by 20.3% in the first quarter, adding 698,112 shares for a total of 4.13 million shares worth approximately $12.7 million. Institutional investors collectively own 73.4% of the company.
• Analyst sentiment is mixed, with three Buy ratings, one Hold and one Sell. PowerFleet has a consensus rating of Hold and an average price target of $9.67.
• PowerFleet authorized a $30 million share-repurchase program, allowing it to buy back up to 6% of outstanding shares; the stock recently opened at $4.41, within a $2.78–$5.88 one-year trading range.

Dimensional Fund Advisors LP increased its stake in PowerFleet, Inc. (NASDAQ:AIOT - Free Report) by 20.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,129,670 shares of the company's stock after buying an additional 698,112 shares during the quarter. Dimensional Fund Advisors LP owned about 3.08% of PowerFleet worth $12,718,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of PowerFleet by 1.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 206,082 shares of the company's stock worth $888,000 after purchasing an additional 2,871 shares during the period. Connors Investor Services Inc. grew its holdings in PowerFleet by 5.7% during the 4th quarter. Connors Investor Services Inc. now owns 56,000 shares of the company's stock valued at $298,000 after purchasing an additional 3,000 shares during the last quarter. R Squared Ltd raised its position in PowerFleet by 40.6% in the 4th quarter. R Squared Ltd now owns 16,073 shares of the company's stock worth $86,000 after purchasing an additional 4,640 shares during the period. Clarus Group Inc. raised its position in PowerFleet by 26.7% in the 1st quarter. Clarus Group Inc. now owns 25,790 shares of the company's stock worth $79,000 after purchasing an additional 5,434 shares during the period. Finally, Bantamac Capital LLC lifted its stake in PowerFleet by 9.0% in the fourth quarter. Bantamac Capital LLC now owns 67,887 shares of the company's stock worth $361,000 after purchasing an additional 5,621 shares during the last quarter. 73.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. UBS Group set a $7.00 target price on PowerFleet in a research report on Tuesday, June 16th. Wall Street Zen upgraded PowerFleet from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Raymond James Financial cut their price objective on PowerFleet from $8.00 to $7.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 16th. Finally, Weiss Ratings downgraded PowerFleet from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Tuesday, June 16th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $9.67.

PowerFleet Price Performance

Shares of AIOT stock opened at $4.41 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.13 and a quick ratio of 0.99. The company has a market capitalization of $591.95 million, a P/E ratio of -27.56 and a beta of 1.43. The company's 50-day simple moving average is $4.07 and its two-hundred day simple moving average is $3.79. PowerFleet, Inc. has a one year low of $2.78 and a one year high of $5.88.

PowerFleet declared that its Board of Directors has initiated a stock repurchase program on Tuesday, June 30th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its shares are undervalued.

About PowerFleet

PowerFleet, Inc NASDAQ: AIOT develops and delivers Internet of Things (IoT)–based telematics and asset-tracking solutions designed to help businesses monitor, manage and optimize fleets of vehicles and industrial equipment. Its core offerings include wireless sensors, GPS tracking devices and cloud-hosted software platforms that provide real-time visibility into vehicle whereabouts, usage patterns, fuel consumption and maintenance needs. The company's systems also support regulatory compliance and safety monitoring, enabling customers to reduce operational costs, minimize theft and improve overall asset utilization.

The company's hardware portfolio features RFID readers, active and passive tags, onboard diagnostics (OBD) adapters and temperature or motion sensors that can be deployed on trucks, trailers, forklifts, containers and other high-value assets.

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