Calamos Advisors LLC Takes $2.19 Million Position in Powerfleet, Inc. (NASDAQ:AIOT)

Calamos Advisors LLC purchased a new position in shares of Powerfleet, Inc. (NASDAQ:AIOT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 328,923 shares of the company’s stock, valued at approximately $2,191,000. Calamos Advisors LLC owned approximately 0.25% of Powerfleet as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AIOT. Financial Management Professionals Inc. purchased a new position in shares of Powerfleet in the fourth quarter valued at $50,000. Spire Wealth Management purchased a new position in Powerfleet in the 4th quarter valued at about $55,000. SG Americas Securities LLC acquired a new stake in shares of Powerfleet during the fourth quarter valued at about $228,000. Yarbrough Capital LLC acquired a new position in shares of Powerfleet in the fourth quarter worth about $372,000. Finally, Inspire Investing LLC purchased a new position in Powerfleet in the fourth quarter valued at about $398,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Insider Buying and Selling

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

Powerfleet Trading Up 1.0 %

Shares of AIOT opened at $6.01 on Wednesday. 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, Inc. has a 52 week low of $2.85 and a 52 week high of $7.38. The stock has a 50 day moving average of $6.49 and a 200-day moving average of $5.59.

Powerfleet (NASDAQ:AIOT) last released its 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 business had revenue of $77.02 million for the quarter, compared to analysts’ expectations of $74.54 million. During the same period last year, the firm posted ($0.14) EPS. As a group, sell-side analysts expect that Powerfleet, Inc. will post -0.14 EPS for the current year.

Analyst Ratings Changes

AIOT has been the topic of several analyst reports. Northland Securities lifted their price objective on Powerfleet from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Barrington Research upped their price target on shares of Powerfleet from $10.00 to $15.00 and gave the company an “outperform” rating in a report 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 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.