Private Management Group Inc. raised its stake in PowerFleet, Inc. (NASDAQ:AIOT – Free Report) by 14.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 6,566,333 shares of the company’s stock after buying an additional 835,196 shares during the quarter. Private Management Group Inc.’s holdings in PowerFleet were worth $18,648,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State of Wyoming purchased a new stake in shares of PowerFleet during the 2nd quarter worth approximately $27,000. Royal Bank of Canada grew its holdings in shares of PowerFleet by 76.9% in the 1st quarter. Royal Bank of Canada now owns 11,233 shares of the company’s stock worth $34,000 after acquiring an additional 4,883 shares during the period. Legal & General Group Plc acquired a new stake in shares of PowerFleet in the 2nd quarter worth approximately $48,000. Wedbush Securities Inc. acquired a new stake in shares of PowerFleet in the 3rd quarter worth approximately $39,000. Finally, Bienville Capital Management LLC purchased a new position in PowerFleet in the 2nd quarter valued at approximately $54,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.
Key Stories Impacting PowerFleet
Here are the key news stories impacting PowerFleet this week:
- Positive Sentiment: Fiscal Q2 revenue reached a record $115.7 million, up 4% sequentially, and exceeded analyst expectations of $114.9 million. EPS was $0.04 versus consensus for a $0.02 loss. PowerFleet Reports Results for Second Quarter Fiscal 2027
- Positive Sentiment: PowerFleet forecast fiscal 2026 revenue of $468 million–$473 million, well above the $442.3 million analyst consensus. Management also outlined a target of a $495 million annualized Q4 revenue run rate and a 27% adjusted EBITDA margin. PowerFleet targets Q4 revenue run rate and adjusted EBITDA margin
- Positive Sentiment: The company said Unity launches are expanding its pipeline, and it agreed to terms for a device-financing facility intended to support growth at scale. PowerFleet Reports Results for Second Quarter Fiscal 2027
- Negative Sentiment: Despite the EPS beat, PowerFleet still reported a negative net margin of 4.16%. One earnings analysis also highlighted a cash-flow concern, which could temper enthusiasm about the growth and margin targets. PowerFleet Q2 2027: Record Revenue, a 300% EPS Beat, and a Cash Flow Catch
PowerFleet Trading Up 3.7%
Shares of AIOT opened at $2.79 on Tuesday. The company has a market capitalization of $374.50 million, a PE ratio of 142.00 and a beta of 1.42. The stock has a fifty day moving average of $2.79 and a two-hundred day moving average of $3.46. PowerFleet, Inc. has a fifty-two week low of $2.29 and a fifty-two week high of $5.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 1.10.
PowerFleet (NASDAQ:AIOT – Get Free Report) last released its earnings results on Monday, November 9th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.06. PowerFleet had a positive return on equity of 0.48% and a negative net margin of 4.16%. The firm had revenue of $115.72 million for the quarter, compared to the consensus estimate of $114.89 million. During the same period in the prior year, the business posted ($0.02) earnings per share. As a group, analysts forecast that PowerFleet, Inc. will post 0.10 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Northland Securities set a $7.00 price objective on PowerFleet in a report on Tuesday, August 11th. Wall Street Zen downgraded PowerFleet from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Craig Hallum lowered their target price on PowerFleet from $9.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Barrington Research set a $10.00 target price on PowerFleet in a report on Monday, August 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PowerFleet in a research report on Friday, September 11th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.40.
Get Our Latest Stock Report on PowerFleet
About PowerFleet
Powerfleet, Inc provides connected-vehicle and asset-management solutions designed to help organizations monitor, manage and optimize mobile assets. Its platform combines Internet of Things (IoT) connectivity, telematics, location tracking and analytics to deliver visibility into vehicles, equipment, cargo and other assets.
The company’s products and services support fleet management, driver safety, vehicle and equipment utilization, maintenance, logistics and supply-chain operations. Powerfleet serves a range of industries, including transportation, logistics, commercial fleets, rental and leasing, construction, manufacturing and other organizations that rely on mobile assets.
Powerfleet has expanded its capabilities through acquisitions and business combinations, including its 2019 acquisition of Pointer Telocation and its 2024 combination with MiX Telematics.
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