Royce & Associates Discloses 1.9M Share Stake in PowerFleet
Ticker: AIOT · Form: SC 13G · Filed: Jan 24, 2024 · CIK: 1774170
| Field | Detail |
|---|---|
| Company | Powerfleet, Inc. (AIOT) |
| Form Type | SC 13G |
| Filed Date | Jan 24, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, SC-13G, stake-disclosure
TL;DR
**Royce & Associates just revealed a big stake in PowerFleet, holding 1.9M shares.**
AI Summary
Royce & Associates, LP, a New York-based investment firm, reported owning 1,918,702 shares of PowerFleet, Inc. common stock as of December 31, 2023. This filing indicates that Royce & Associates has sole voting and sole dispositive power over these shares. This matters to investors because it reveals a significant institutional investor's stake, potentially signaling confidence in PowerFleet's future or influencing its stock price due to the large holding.
Why It Matters
A major institutional investor, Royce & Associates, LP, has taken a significant position in PowerFleet, Inc., which could be seen as a vote of confidence and potentially attract other investors.
Risk Assessment
Risk Level: low — This filing indicates a significant institutional investment, which generally reduces risk by showing external confidence in the company.
Analyst Insight
A smart investor would view this as a positive signal, indicating that a reputable institutional investor sees value in PowerFleet, Inc., and might consider further research into the company's fundamentals.
Key Numbers
- 1,918,702 — Shares Beneficially Owned (Represents the total number of PowerFleet, Inc. common stock shares held by Royce & Associates, LP.)
Key Players & Entities
- Royce & Associates, LP (company) — the reporting person and investment firm
- PowerFleet, Inc. (company) — the subject company (issuer)
- 1,918,702 (dollar_amount) — number of shares beneficially owned
- December 31, 2023 (date) — date of event requiring the filing
- New York (company) — place of organization for Royce & Associates, LP
Forward-Looking Statements
- Royce & Associates, LP will maintain or increase its stake in PowerFleet, Inc. over the next quarter. (Royce & Associates, LP) — medium confidence, target: March 31, 2024
FAQ
Who is the reporting person in this SC 13G filing?
The reporting person is Royce & Associates, LP, with IRS Number 52-2343049 and organized in New York.
What is the subject company (issuer) of the securities mentioned in this filing?
The subject company is PowerFleet, Inc., with Central Index Key (CIK) 0001774170.
How many shares of PowerFleet, Inc. common stock does Royce & Associates, LP beneficially own?
Royce & Associates, LP beneficially owns 1,918,702 shares of PowerFleet, Inc. common stock, as stated in item 9 of the filing.
What is the CUSIP number for the class of securities reported?
The CUSIP number for the Common Stock of PowerFleet, Inc. is 73931J109.
What was the date of the event that required this SC 13G filing?
The date of the event which required the filing of this statement was December 31, 2023.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 24, 2024 regarding PowerFleet, Inc. (AIOT).