Pointer Telocation Ltd. (NASDAQ:PNTR)

GB Pointer Telocation (NASDAQ:PNTR) ($18.10; $145.8M market cap), a leading provider of telematic services and technology solutions for Fleet Management, announced Nissan India has selected PNTR  to provide part of the technological solution of the NissanConnect platform, in cooperation with InfoTrack Telematics.

"We are extremely proud that Nissan India has chosen Pointer's hardware as the telematics control unit for their connected car technology solution. We feel privileged to be part of this innovative journey, inspired by Nissan's Intelligent Mobility vision, and see strong growth potential as it provides significant added-value to both customers and car makers. We see this as a first step with Nissan and Infotrack Telematics and we hope our successful work together will allow us to penetrate Nissan in other countries. Furthermore, India itself is phenomenal and under penetrated market for telematics, and we are excited about the new telematics opportunities we envision there.

GB Pointer Telocation (NASDAQ:PNTR) ($18.62; $150 m market cap), a leading provider of telematic services and technology solutions for Fleet Management announced Q3 2017 results:

• Sales of $20.2 million vs $15.9 million in the prior year and ahead of analyst estimates of $19.3 million

• Non-GAAP EPS of $0.28 vs $0.18 in the prior year and ahead of analyst estimates of $0.20

Quotes from management:

"We have recently seen increased interest in Cellotrack Nano, our new solution for Mobile Asset Management. We have a number of prospects undergoing evaluations and we believe it will be a long-term growth engine for Pointer. We are also pleased with the increased penetration of our connected car solution following our intensive R&D and marketing efforts over the past few quarters. Pointer's continued solid results represent the ongoing successful execution of our long-term growth strategy."

We added PNTR to our GeoBargain list on June 19, 2017 when shares were trading at $11.98.

GB PNTR ($13.45) - A new 13G filing from Phoenix Holdings disclosed an 18.0% stake.

In related news, HC Wainwright reiterated its “Buy” rating and $18 price target.  Yesterday PNTR posted strong Q2 2017 results.

PNTR ($12.30) - Shares of GeoBargain PNTR have pulled back off recent highs of $14.65.  Yesterday the Company announced a class action lawsuit has been filed against them alleging it is misleading some of the company customers, claiming that during the last seven years the company is charging them for a superior system while installing an inferior system.  The claim amount is estimated to be ~$14 million USD.

Obviously, we are not happy to see this lawsuit.  So far, the Company has not given us enough details on the case.  However, we anticipate that this legal issue will probably drag on for a bit before potentially knowing the ultimate cost to the company if they were in the wrong or if they want to settle.