Calamos Advisors LLC Makes New Investment in Powerfleet, Inc. (NASDAQ:AIOT)

Calamos Advisors LLC purchased a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 328,923 shares of the company’s stock, valued at approximately $2,191,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Powerfleet during the 4th quarter valued at about $11,034,000. Hodges Capital Management Inc. bought a new position in shares of Powerfleet in the fourth quarter valued at approximately $10,982,000. Kopion Asset Management LLC acquired a new position in shares of Powerfleet during the fourth quarter valued at approximately $7,361,000. Inspire Investing LLC bought a new stake in Powerfleet during the fourth quarter worth approximately $398,000. Finally, Yarbrough Capital LLC acquired a new stake in Powerfleet in the fourth quarter worth approximately $372,000. 73.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Powerfleet

In other Powerfleet news, insider Catherine J. Lewis sold 82,010 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $7.05, for a total transaction of $578,170.50. Following the sale, the insider now directly owns 240,962 shares of the company’s stock, valued at $1,698,782.10. The trade was a 25.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.79% of the company’s stock.

Powerfleet Stock Performance

NASDAQ AIOT opened at $6.01 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 1.71 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average is $6.49 and its two-hundred day moving average is $5.59. Powerfleet, Inc. has a 1 year low of $2.85 and a 1 year high of $7.38.

Powerfleet (NASDAQ:AIOT) last announced its earnings results on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The firm had revenue of $77.02 million during the quarter, compared to analyst estimates of $74.54 million. During the same period last year, the company posted ($0.14) earnings per share. On average, analysts forecast that Powerfleet, Inc. will post -0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Northland Securities boosted their price objective on Powerfleet from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Barrington Research boosted their price target on shares of Powerfleet from $10.00 to $15.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, William Blair restated an “outperform” rating on shares of Powerfleet in a research report on Thursday, November 21st.

Powerfleet Company 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.