Yarbrough Capital LLC Makes New Investment in Powerfleet, Inc. (NASDAQ:AIOT)

Yarbrough Capital LLC bought a new stake in shares of Powerfleet, Inc. (NASDAQ:AIOT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 55,839 shares of the company’s stock, valued at approximately $372,000.

Separately, Kopion Asset Management LLC purchased a new position in Powerfleet during the fourth quarter worth about $7,361,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Insider Activity at Powerfleet

In other Powerfleet news, insider Catherine J. Lewis sold 82,010 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $7.05, for a total transaction of $578,170.50. Following the completion of the sale, the insider now directly owns 240,962 shares in the company, valued at approximately $1,698,782.10. This trade represents a 25.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.79% of the stock is owned by corporate insiders.

Powerfleet Trading Down 2.4 %

AIOT stock opened at $6.10 on Friday. Powerfleet, Inc. has a fifty-two week low of $2.85 and a fifty-two week high of $7.38. The stock’s 50 day moving average price is $6.51. The company has a current ratio of 1.71, a quick ratio of 1.51 and a debt-to-equity ratio of 0.25.

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

Analyst Ratings Changes

AIOT has been the subject of several analyst reports. Northland Securities upped their price target on shares of Powerfleet from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Barrington Research raised their price target on Powerfleet from $10.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, William Blair reissued an “outperform” rating on shares of Powerfleet in a research report on Thursday, November 21st.

Powerfleet Company Profile

PowerFleet, Inc provides wireless Internet-of-Things asset management solutions in the United States, Israel, and internationally. The company offers real-time intelligence for organizations to capture IoT data from various types of assets with devices and sensors to increase efficiencies, and improve safety and security, as well as increase their profitability in easy-to-understand reports, dashboards, and real-time alerts; and application programming interfaces for additional integrations and development to boost other enterprise management systems and third-party applications.