328,923 Shares in Powerfleet, Inc. (NASDAQ:AIOT) Acquired by Calamos Advisors LLC

Calamos Advisors LLC bought a new stake in Powerfleet, Inc. (NASDAQ:AIOT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 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 SEC.

Other large investors have also recently modified their holdings of the company. Hodges Capital Management Inc. bought a new position in shares of Powerfleet in the 4th quarter valued at $10,982,000. Spire Wealth Management bought a new position in Powerfleet during the 4th quarter worth $55,000. AEGON ASSET MANAGEMENT UK Plc bought a new position in Powerfleet during the 4th quarter worth $11,034,000. Inspire Investing LLC bought a new position in Powerfleet during the 4th quarter worth $398,000. Finally, SG Americas Securities LLC bought a new position in Powerfleet during the 4th quarter worth $228,000. Institutional investors and hedge funds own 73.40% of the company's stock.

Insider Buying and Selling at Powerfleet

In other Powerfleet news, insider Catherine J. Lewis sold 82,010 shares of Powerfleet stock in a transaction dated 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 owns 240,962 shares in the company, valued at approximately $1,698,782.10. The trade was a 25.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.79% of the company's stock.

Wall Street Analysts Forecast Growth

AIOT has been the subject of several analyst reports. William Blair reaffirmed an "outperform" rating on shares of Powerfleet in a research report on Thursday, November 21st. Barrington Research reissued an "outperform" rating and issued a $15.00 price objective on shares of Powerfleet in a research report on Thursday. Finally, Northland Securities lifted their price objective on Powerfleet from $8.00 to $10.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd.

Powerfleet Stock Down 2.5 %

Shares of AIOT traded down $0.15 during trading hours on Friday, hitting $5.95. The stock had a trading volume of 2,307,178 shares, compared to its average volume of 1,534,284. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.51 and a current ratio of 1.71. The firm has a 50 day simple moving average of $6.40 and a 200-day simple moving average of $5.61. Powerfleet, Inc. has a 1-year low of $2.85 and a 1-year high of $7.38.

Powerfleet (NASDAQ:AIOT - Get Free Report) last issued 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 the consensus estimate of $74.54 million. During the same period in the previous year, the company posted ($0.14) EPS. Analysts anticipate that Powerfleet, Inc. will post -0.14 EPS for the current year.

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.