Blair William & Co. IL Has $5.51 Million Stock Holdings in PowerFleet, Inc. (NASDAQ:AIOT)

Key Points

• Blair William & Co. IL increased its holdings in PowerFleet, Inc. by 97%, owning over 1 million shares valued at approximately $5.5 million as of its latest SEC filing.
• PowerFleet's stock is currently trading at $4.01, with analysts providing a moderate buy rating and a projected average target price of $10.50.
• Institutional investors collectively own 73.40% of PowerFleet's stock, indicating strong interest and investment from financial institutions.

Blair William & Co. IL grew its position in PowerFleet, Inc. (NASDAQ:AIOT - Free Report) by 97.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,002,649 shares of the company's stock after purchasing an additional 493,729 shares during the period. Blair William & Co. IL owned approximately 0.76% of PowerFleet worth $5,505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Private Capital Management LLC bought a new stake in PowerFleet during the 4th quarter worth about $45,504,000. Vanguard Group Inc. bought a new stake in PowerFleet during the fourth quarter worth about $43,134,000. AWM Investment Company Inc. bought a new stake in PowerFleet during the fourth quarter worth about $31,000,000. Ontario Teachers Pension Plan Board acquired a new position in PowerFleet during the fourth quarter valued at approximately $28,543,000. Finally, 325 Capital LLC bought a new position in PowerFleet in the fourth quarter valued at approximately $24,737,000. 73.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AIOT has been the topic of a number of analyst reports. Raymond James Financial dropped their price objective on 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 upgraded shares of PowerFleet from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Lake Street Capital set a $8.00 price objective on shares of PowerFleet and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $15.00 target price on shares of PowerFleet in a report on Friday, June 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $10.50.

PowerFleet Stock Performance

Shares of NASDAQ:AIOT traded down $0.10 on Friday, hitting $3.87. The company had a trading volume of 2,029,067 shares, compared to its average volume of 1,363,792. The stock has a market cap of $516.41 million, a price-to-earnings ratio of -9.00 and a beta of 1.35. The stock has a 50 day moving average price of $4.42 and a 200 day moving average price of $5.33. PowerFleet, Inc. has a 1-year low of $3.70 and a 1-year high of $8.71. The company has a current ratio of 1.12, a quick ratio of 1.00 and a debt-to-equity ratio of 0.52.

PowerFleet Profile

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.