Connect with us

Hi, what are you looking for?

Politics

325 Capital LLC Reduces Stake in PowerFleet, Inc. by 1.8%

In a recent filing with the Securities and Exchange Commission, 325 Capital LLC disclosed it has reduced its holdings in PowerFleet, Inc. (NASDAQ: AIOT) by 1.8% during the first quarter of 2023. The firm sold 67,906 shares, bringing its total ownership to 3,646,379 shares. This position represents approximately 8.3% of 325 Capital’s investment portfolio, making PowerFleet its fifth largest holding. As of the latest filing, the firm held shares valued at around $20 million.

Numerous institutional investors have also adjusted their positions in PowerFleet. Notably, Wells Fargo & Company MN acquired a new stake worth approximately $369,000 during the fourth quarter, while Dimensional Fund Advisors LP invested around $7.3 million. Other notable acquisitions include MetLife Investment Management LLC, HSBC Holdings PLC, and Price T. Rowe Associates Inc. MD, who purchased shares valued at $381,000, $75,000, and $254,000, respectively. Currently, institutional investors and hedge funds collectively own 73.40% of PowerFleet’s stock.

Insider Transactions and Company Profile

In related news, PowerFleet’s CEO, Steven Mark Towe, purchased 23,157 shares of the company on August 14, 2023, at an average price of $4.42 per share, totaling approximately $102,354. Following this transaction, Towe holds around 2,457,923 shares, valued at about $10.9 million, indicating a 0.95% increase in his ownership stake.

Additionally, Director Michael J. McConnell acquired 10,000 shares on August 18, 2023, for an average price of $4.64 per share, amounting to $46,400. This transaction increased his holdings by 55.47% to a total of 28,028 shares, valued at approximately $130,050.

Corporate insiders currently own 6.30% of PowerFleet’s stock, reflecting a notable engagement from those closely involved with the company.

Market Performance Overview

PowerFleet’s shares opened at $4.67 on Tuesday, and the company has experienced fluctuations over the past year, with a low of $3.70 and a high of $8.71. The firm has a market capitalization of $623.16 million, and its financial performance metrics include a P/E ratio of -15.57 and a beta of 1.28.

PowerFleet, Inc. specializes in fleet management solutions, offering a range of services that leverage wireless Internet of Things technology to secure, control, track, and manage assets across various industries. As the company continues to navigate the dynamic market landscape, the involvement of institutional investors and insider transactions suggests a strategic focus on growth and stability.

For further insights into PowerFleet and its market activity, investors can refer to the latest 13F filings and insider trades available on financial news platforms.

You May Also Like

Technology

Tesla (TSLA) recently reported a year-over-year drop in second-quarter deliveries, yet the market responded with optimism, pushing the stock up by 5%. This unexpected...

Health

The All England Lawn Tennis Club in London experienced its hottest-ever opening day on Monday, as the prestigious Wimbledon tournament kicked off under unprecedented...

Science

Look out, daters: a new toxic relationship trend is sweeping through the romantic world, leaving many baffled and heartbroken. Known as “Banksying,” this phenomenon...

Technology

In a bold reimagining of the DC Universe, director James Gunn has introduced a significant narrative element in his latest film, which reveals that...

Entertainment

Netflix’s eagerly anticipated talent competition Building the Band is set to premiere on July 9, promising an emotional journey for viewers. This series, centered...

Technology

Former Speaker of the House Nancy Pelosi has recently made headlines with her latest investment in the tech sector. According to official filings, she...

Entertainment

A new documentary series titled “Animals on Drugs” is set to premiere on the Discovery Channel on July 28, 2023. The three-part series follows...

Technology

The answer to today’s NYT Wordle, dated August 8, 2025, is the verb IMBUE. This word, which means “to fill or saturate,” features three...

World

The first dose of the hepatitis B vaccine is recommended at birth, a practice that has come under scrutiny following recent comments by Health...

Technology

The Evo 2025 tournament is set to take place from August 1 to August 3, 2025, showcasing some of the most popular fighting games...

Sports

ZAGREB, Croatia — A concert by Marko Perkovic, a right-wing Croatian singer known for his controversial views, attracted tens of thousands of fans to...

Business

Erin Dana Lichy, a prominent cast member of “Real Housewives of New York,” has officially settled into her dream home, a grand townhouse located...

Politics

Billionaire hedge fund manager Bill Ackman faced significant backlash following his professional tennis debut at the Hall of Fame Open in Newport, Rhode Island,...

Lifestyle

The upcoming TRNSMT 2025 festival is set to take place from July 7 to July 9, 2025, at Glasgow Green, and organizers have released...

Entertainment

While the echoes of Summer Game Fest 2025 and the Xbox Games Showcase still resonate, Xbox has already set its sights on the next...

Sports

As the summer of 2025 unfolds, the video game industry is set to deliver a diverse array of new releases that promise to captivate...

Copyright © All rights reserved. This website provides general news and educational content for informational purposes only. While we strive for accuracy, we do not guarantee the completeness or reliability of the information presented. The content should not be considered professional advice of any kind. Readers are encouraged to verify facts and consult appropriate experts when needed. We are not responsible for any loss or inconvenience resulting from the use of information on this site.