Private Capital Management Boosts PowerFleet Stake to 2.99M Shares

TL;DR

**Private Capital Management still holds a big chunk of PowerFleet, signaling institutional confidence.**

AI Summary

Private Capital Management, LLC, a Delaware-based investment firm, filed an amended SC 13G/A on February 5, 2024, disclosing its ownership in PowerFleet, Inc. As of December 31, 2023, the firm beneficially owned 2,991,228 shares with sole voting and dispositive power, and 2,932,602 shares with shared voting and dispositive power. This filing indicates a significant institutional stake in PowerFleet, suggesting a vote of confidence from a major investor, which could be a positive signal for current and prospective shareholders.

Why It Matters

This filing shows a major institutional investor, Private Capital Management, LLC, maintains a substantial position in PowerFleet, Inc., which can signal confidence in the company's future prospects to other investors.

Risk Assessment

Risk Level: low — This filing is an amendment to a previous disclosure and indicates a stable or slightly adjusted institutional ownership, which generally doesn't introduce new risks.

Analyst Insight

Investors should note the continued significant institutional ownership by Private Capital Management, LLC, which may indicate long-term confidence in PowerFleet, Inc. This information can be used as one data point when evaluating the stock, but further due diligence on the company's fundamentals is always recommended.

Key Numbers

• 2,991,228 — Shares with Sole Voting Power (The number of PowerFleet shares Private Capital Management, LLC can vote and dispose of independently.)
• 2,932,602 — Shares with Shared Voting Power (The number of PowerFleet shares Private Capital Management, LLC shares voting and dispositive power over with others.)

Key Players & Entities

• Private Capital Management, LLC (company) — the reporting person and investment firm
• PowerFleet, Inc. (company) — the subject company whose securities are being reported
• Delaware (company) — state of incorporation for Private Capital Management, LLC
• December 31, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• Private Capital Management, LLC will maintain a significant stake in PowerFleet, Inc. (PowerFleet, Inc.) — high confidence, target: Q4 2024

FAQ

Filing Documents

• pwfl25241sc13ga4.htm (SC 13G/A) — 42KB
• 0001214659-24-001934.txt ( ) — 43KB

(a)

Item 1(a). Name of Issuer: PowerFleet, Inc.

(b)

Item 1(b). Address of Issuer’s Principal Executive Offices: 123 Tice Boulevard, Woodcliff Lake, NJ 07677

(a)

Item 2(a). Name of Person Filing: Private Capital Management, LLC

(b)

Item 2(b). Address of Principal Business Office or, if none, Residence: 8889 Pelican Bay Boulevard, Suite 500, Naples, Florida 34108

(c)

Item 2(c). Citizenship: USA

(d)

Item 2(d). Title of Class of Securities: Common Stock

(e)

Item 2(e). CUSIP Number: 73931J109 Page 3 of 6 pages Item 3. If this Statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) o Broker or dealer registered under Section 15 of the Act; (b) o Bank as defined in Section 3(a)(6) of the Act; (c) o Insurance company as defined in Section 3(a)(19) of the Act; (d) x Investment company registered under Section 8 of the Investment Company Act of 1940; (e) o An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) o An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) o A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) o A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) o A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940; (j) o A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J); (k) o Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned**: 5,923,830 (b) Percent of Class: 15.92% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 2,991,228 (ii) shared power to vote or to direct the vote*: 2,932,602 (iii) sole power to dispose or to direct the disposition of: 2,991,228 (iv) shared power to dispose or to direct the disposition of: 2,932,602 Page 4 of 6 pages Item 5. If this statement is being filed to report the fact that as of the date h

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