PowerFleet, Inc. $AIOT Stock Position Lifted by Samjo Management LLC

Key Points

• Samjo Management LLC has increased its stake in PowerFleet, Inc. (NASDAQ:AIOT) by 44.1%, acquiring a total of 2,102,200 shares, making it their 6th largest investment.
• Several institutional investors, including EntryPoint Capital LLC and Voss Capital LP, have also significantly increased their positions in PowerFleet during the first quarter.
• The stock has recently received mixed ratings from analysts, with a drop from "hold" to "strong sell" by Zacks Research, while other analysts maintain a "buy" or "outperform" rating.

Samjo Management LLC boosted its stake in PowerFleet, Inc. (NASDAQ:AIOT - Free Report) by 44.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,102,200 shares of the company's stock after buying an additional 642,850 shares during the quarter. PowerFleet makes up about 4.9% of Samjo Management LLC's holdings, making the stock its 6th biggest position. Samjo Management LLC owned approximately 1.59% of PowerFleet worth $11,541,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. EntryPoint Capital LLC increased its stake in shares of PowerFleet by 46.4% in the first quarter. EntryPoint Capital LLC now owns 49,990 shares of the company's stock worth $274,000 after acquiring an additional 15,847 shares during the last quarter. Voss Capital LP increased its position in PowerFleet by 40.7% in the 1st quarter. Voss Capital LP now owns 2,720,591 shares of the company's stock worth $14,936,000 after purchasing an additional 786,999 shares during the last quarter. Algert Global LLC purchased a new stake in shares of PowerFleet during the 1st quarter worth about $640,000. Raymond James Financial Inc. lifted its holdings in shares of PowerFleet by 36.4% during the 1st quarter. Raymond James Financial Inc. now owns 969,122 shares of the company's stock valued at $5,320,000 after buying an additional 258,787 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of PowerFleet in the 1st quarter valued at approximately $420,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Michael J. Mcconnell purchased 10,000 shares of the firm's stock in a transaction on Monday, August 18th. The stock was bought at an average cost of $4.64 per share, for a total transaction of $46,400.00. Following the completion of the acquisition, the director directly owned 28,028 shares of the company's stock, valued at approximately $130,049.92. The trade was a 55.47% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven Mark Towe purchased 23,157 shares of the stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $4.42 per share, for a total transaction of $102,353.94. Following the completion of the transaction, the chief executive officer owned 2,457,923 shares of the company's stock, valued at $10,864,019.66. The trade was a 0.95% increase in their position. The disclosure for this purchase can be found here. 6.30% of the stock is owned by insiders.

PowerFleet Price Performance

NASDAQ AIOT opened at $4.72 on Friday. PowerFleet, Inc. has a 1 year low of $3.70 and a 1 year high of $8.71. The company has a fifty day simple moving average of $4.38 and a 200 day simple moving average of $5.22. The company has a current ratio of 1.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.51. The company has a market cap of $629.84 million, a P/E ratio of -15.73 and a beta of 1.35.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AIOT shares. Zacks Research lowered shares of PowerFleet from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. Raymond James Financial dropped their price target on shares of PowerFleet from $10.00 to $8.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Wall Street Zen lowered shares of PowerFleet from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Lake Street Capital set a $8.00 price objective on shares of PowerFleet and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, Barrington Research restated an "outperform" rating and set a $15.00 target price on shares of PowerFleet in a report on Friday. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, PowerFleet presently has an average rating of "Moderate Buy" and a consensus price target of $10.50.

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.

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