178,477 Shares in PowerFleet, Inc. (NASDAQ:AIOT) Purchased by Legato Capital Management LLC

Legato Capital Management LLC bought a new stake in shares of PowerFleet, Inc. (NASDAQ:AIOT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 178,477 shares of the company's stock, valued at approximately $980,000. Legato Capital Management LLC owned about 0.13% of PowerFleet as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Capital Management LLC purchased a new stake in PowerFleet during the fourth quarter valued at approximately $45,504,000. Vanguard Group Inc. purchased a new position in shares of PowerFleet in the fourth quarter worth $43,134,000. AWM Investment Company Inc. purchased a new position in shares of PowerFleet in the fourth quarter worth $31,000,000. Ontario Teachers Pension Plan Board purchased a new position in shares of PowerFleet in the fourth quarter worth $28,543,000. Finally, 325 Capital LLC purchased a new position in shares of PowerFleet in the fourth quarter worth $24,737,000. Hedge funds and other institutional investors own 73.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AIOT. Barrington Research reaffirmed an "outperform" rating and issued a $15.00 price target on shares of PowerFleet in a report on Friday, June 13th. Wall Street Zen raised shares of PowerFleet from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Lake Street Capital set a $8.00 price target on shares of PowerFleet and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, Raymond James Financial decreased their price target on shares of PowerFleet from $10.00 to $8.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $10.50.

PowerFleet Price Performance

Shares of NASDAQ AIOT traded down $0.06 during trading on Friday, hitting $4.57. The company had a trading volume of 819,585 shares, compared to its average volume of 1,649,658. The firm has a market capitalization of $609.50 million, a price-to-earnings ratio of -10.63 and a beta of 1.32. The stock has a fifty day simple moving average of $4.64 and a two-hundred day simple moving average of $5.47. The company has a quick ratio of 1.00, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. PowerFleet, Inc. has a fifty-two week low of $3.70 and a fifty-two week high of $8.71.

About PowerFleet

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.