Key Points
- Major shareholder Bradley Louis Radoff sold 35,000 shares of KVH Industries at an average price of $11.20, generating about $392,000 and reducing his stake by 10.77%.
- KVH Industries recently reported better-than-expected quarterly results, posting $0.03 EPS versus an expected loss and revenue of $32.32 million, above analyst estimates.
- Despite the earnings beat, the stock has a Sell consensus rating from analysts, and Wall Street Zen recently downgraded it from Buy to Hold.
KVH Industries, Inc. (NASDAQ:KVHI - Get Free Report) major shareholder Bradley Louis Radoff sold 35,000 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $11.20, for a total transaction of $392,000.00. Following the completion of the transaction, the insider directly owned 290,000 shares in the company, valued at approximately $3,248,000. The trade was a 10.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
KVH Industries Stock Performance
KVH Industries stock opened at $9.28 on Friday. The stock has a market cap of $180.96 million, a P/E ratio of -35.69 and a beta of 0.43. KVH Industries, Inc. has a fifty-two week low of $5.09 and a fifty-two week high of $13.00. The firm's fifty day moving average price is $9.78 and its 200-day moving average price is $7.68.
KVH Industries (NASDAQ:KVHI - Get Free Report) last released its earnings results on Wednesday, May 6th. The communications equipment provider reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.02) by $0.05. The business had revenue of $32.32 million for the quarter, compared to analysts' expectations of $30.56 million. KVH Industries had a negative return on equity of 0.80% and a negative net margin of 4.31%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in KVHI. Potomac Capital Management Inc. bought a new position in shares of KVH Industries during the fourth quarter valued at about $3,252,000. Bridgeway Capital Management LLC grew its stake in shares of KVH Industries by 126.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 145,284 shares of the communications equipment provider's stock valued at $1,013,000 after buying an additional 81,252 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of KVH Industries during the fourth quarter valued at about $521,000. Mink Brook Asset Management LLC grew its stake in shares of KVH Industries by 84.5% during the second quarter. Mink Brook Asset Management LLC now owns 153,683 shares of the communications equipment provider's stock valued at $819,000 after buying an additional 70,382 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of KVH Industries by 22.0% during the first quarter. Renaissance Technologies LLC now owns 345,515 shares of the communications equipment provider's stock valued at $3,096,000 after buying an additional 62,407 shares during the last quarter. Institutional investors own 73.66% of the company's stock.
Analyst Upgrades and Downgrades
KVHI has been the topic of a number of research analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of KVH Industries in a research note on Friday, March 27th. Wall Street Zen cut KVH Industries from a "buy" rating to a "hold" rating in a research note on Sunday, May 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of "Sell".
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About KVH Industries
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KVH Industries, Inc develops and manufactures mobile connectivity, inertial navigation, and stabilization systems for maritime, land mobile and defense markets. Its Satellite Communications Group delivers a range of mobile VSAT and broadband systems under the TracPhone and TracNet brands, offering high-speed data, voice and TV programming for commercial and leisure vessels. The company pairs its hardware offerings with the OneCare global network and service platform, providing 24/7 support and coverage across major satellite constellations.
The Inertial Systems Group at KVH produces fiber-optic and hemispherical resonator gyros, inertial measurement units (IMUs) and related inertial navigation products for aerospace, unmanned platforms and precision stabilization applications.
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