Shearlink Capital Lowers stake in FleetMatics Group PLC (FLTX)

FleetMatics Group PLC (FLTX) : Shearlink Capital reduced its stake in FleetMatics Group PLC by 57.62% during the most recent quarter end. The investment management company now holds a total of 248,206 shares of FleetMatics Group PLC which is valued at $14,740,954 after selling 337,412 shares in FleetMatics Group PLC , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.FleetMatics Group PLC makes up approximately 5.88% of Shearlink Capital’s portfolio.

Other Hedge Funds, Including , Janus Capital Management reduced its stake in FLTX by selling 56,919 shares or 7.82% in the most recent quarter. The Hedge Fund company now holds 670,690 shares of FLTX which is valued at $39,832,279. FleetMatics Group PLC makes up approx 0.03% of Janus Capital Management’s portfolio.Cortina Asset Management boosted its stake in FLTX in the latest quarter, The investment management firm added 18,491 additional shares and now holds a total of 181,550 shares of FleetMatics Group PLC which is valued at $10,782,255. FleetMatics Group PLC makes up approx 0.46% of Cortina Asset Management’s portfolio.Brown Advisory Inc reduced its stake in FLTX by selling 1,173 shares or 19.75% in the most recent quarter. The Hedge Fund company now holds 4,767 shares of FLTX which is valued at $283,017.Rs Investment Management Co boosted its stake in FLTX in the latest quarter, The investment management firm added 22,403 additional shares and now holds a total of 504,288 shares of FleetMatics Group PLC which is valued at $21,346,511. FleetMatics Group PLC makes up approx 0.21% of Rs Investment Management Co’s portfolio.

FleetMatics Group PLC closed down -0.01 points or -0.02% at $59.89 with 5,25,237 shares getting traded on Monday. Post opening the session at $59.92, the shares hit an intraday low of $59.87 and an intraday high of $59.92 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, FleetMatics Group PLC reported $0.35 EPS for the quarter, based on the information available during the earnings call on May 4, 2016. Analyst had a consensus estimate of $0.35. The company had revenue of $78.90 million for the quarter, compared to analysts expectations of $79.32 million. The company’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on FleetMatics Group PLC. FleetMatics Group PLC was Downgraded by Citigroup to ” Neutral” on Aug 9, 2016. Company shares were Downgraded by Barclays on Aug 4, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 59 from a previous price target of $46 .Company shares were Downgraded by Imperial Capital on Aug 2, 2016 to ” In-line”, Firm has raised the Price Target to $ 60 from a previous price target of $50 .

Fleetmatics Group PLC is a holding company. The Company is a provider of fleet management solutions delivered as software-as-a-service (SaaS). Its mobile software platform enables businesses to manage their local fleets of commercial vehicles. It offers Web-based and mobile application solutions that provide fleet operators with access to vehicle location fuel usage speed and mileage and others into their mobile workforce. The Company’s product offerings include Fleetmatics REVEAL a business intelligence-based fleet management solution for small and midsize businesses (SMBs); Fleetmatics REVEAL+ which extends Fleetmatics REVEAL to larger enterprises and Fleetmatics WORK a field service management solution. The Company’s solutions include fleet management and field service management. The Company’s subsidiaries are Fleetmatics Ireland Limited Fleetmatics (UK) Limited Fleetmatics USA LLC Fleetmatics Netherlands B.V. Fleetmatics de Mexico Srl and Fleetmatics Pty Ltd.

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