Luxor Capital Group LP Makes New Investment in A2Z Cust2Mate Solutions Corp. $AZ

Key Points

• Luxor Capital Group disclosed a new first-quarter stake in A2Z Cust2Mate Solutions, buying 2.88 million shares valued at about $19.2 million. The holding represents roughly 6.47% of A2Z and is Luxor’s 13th-largest position.
• A2Z reported mixed quarterly results, missing earnings estimates with EPS of -$0.18 versus expectations of -$0.15, though revenue of $3.32 million topped forecasts. The company also posted deeply negative profitability metrics, including a negative net margin and return on equity.
• The company’s board approved a $20 million share buyback program, authorizing repurchases of up to 7.2% of outstanding shares. Analysts remain cautious overall, with a consensus rating of Hold and an average price target of $15.00.

Luxor Capital Group LP bought a new stake in A2Z Cust2Mate Solutions Corp. (NASDAQ:AZ - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,880,400 shares of the company's stock, valued at approximately $19,212,000. A2Z Cust2Mate Solutions makes up approximately 1.3% of Luxor Capital Group LP's investment portfolio, making the stock its 13th largest position. Luxor Capital Group LP owned about 6.47% of A2Z Cust2Mate Solutions as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Alyeska Investment Group L.P. grew its position in shares of A2Z Cust2Mate Solutions by 110.4% during the third quarter. Alyeska Investment Group L.P. now owns 2,000,987 shares of the company's stock worth $15,988,000 after buying an additional 1,050,000 shares in the last quarter. Shay Capital LLC raised its holdings in A2Z Cust2Mate Solutions by 133.6% in the third quarter. Shay Capital LLC now owns 1,600,000 shares of the company's stock valued at $12,784,000 after acquiring an additional 915,000 shares in the last quarter. Private Advisor Group LLC raised its holdings in A2Z Cust2Mate Solutions by 331.3% in the fourth quarter. Private Advisor Group LLC now owns 862,765 shares of the company's stock valued at $5,617,000 after acquiring an additional 662,718 shares in the last quarter. Weybosset Research & Management LLC boosted its stake in A2Z Cust2Mate Solutions by 71.6% during the 1st quarter. Weybosset Research & Management LLC now owns 1,542,249 shares of the company's stock valued at $10,287,000 after acquiring an additional 643,469 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd boosted its stake in A2Z Cust2Mate Solutions by 96.3% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,073,305 shares of the company's stock valued at $6,500,000 after acquiring an additional 526,653 shares during the last quarter. 12.64% of the stock is owned by institutional investors and hedge funds.

A2Z Cust2Mate Solutions Trading Up 5.3%

AZ stock opened at $5.59 on Friday. The firm has a market cap of $248.98 million, a P/E ratio of -5.48 and a beta of 1.16. A2Z Cust2Mate Solutions Corp. has a 12-month low of $4.97 and a 12-month high of $11.04. The stock's 50 day simple moving average is $5.97 and its 200 day simple moving average is $6.49.

A2Z Cust2Mate Solutions (NASDAQ:AZ - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $3.32 million for the quarter, compared to analyst estimates of $3.06 million. On average, research analysts forecast that A2Z Cust2Mate Solutions Corp. will post -0.51 EPS for the current fiscal year.

A2Z Cust2Mate Solutions declared that its Board of Directors has initiated a share buyback program on Monday, July 6th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 7.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of A2Z Cust2Mate Solutions in a report on Friday, July 17th. Wall Street Zen upgraded shares of A2Z Cust2Mate Solutions from a "sell" rating to a "hold" rating in a research note on Saturday, April 18th. Finally, Zacks Research cut shares of A2Z Cust2Mate Solutions from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $15.00.

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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