KVH Industries, Inc. (NASDAQ:KVHI) Downgraded by Zacks Investment Research to Hold

KVH Industries, Inc. (NASDAQ:KVHI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, October 27th.

According to Zacks, “KVH Europe A/S is a wholly owned subsidiary of USA-based KVH Industries, Inc. KVH is a leading provider of in-motion satellite TV and communication systems, having designed, manufactured, and sold more than one lakhs mobile satellite antennas for applications on boats, RVs, trucks, buses, and automobiles. KVH Europe is the preferred supplier of marine satellite TV systems to leading powerboat builders like Sunseeker, Princess, Fairline, Rodriquez, Azimut, and Astondoa. KVH’s mission is to connect mobile customers with the same digital television entertainment, communications, and Internet services that they enjoy in their home and offices. “

Shares of KVH Industries (NASDAQ KVHI) traded up $0.20 on Friday, hitting $11.15. 17,800 shares of the stock were exchanged, compared to its average volume of 67,282. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.30 and a quick ratio of 1.80. KVH Industries has a fifty-two week low of $7.65 and a fifty-two week high of $12.75.

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Several institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of KVH Industries by 73.1% during the 3rd quarter. Wells Fargo & Company MN now owns 17,972 shares of the communications equipment provider’s stock worth $215,000 after purchasing an additional 7,588 shares in the last quarter. Chicago Equity Partners LLC increased its stake in shares of KVH Industries by 50.0% during the 3rd quarter. Chicago Equity Partners LLC now owns 62,379 shares of the communications equipment provider’s stock worth $745,000 after purchasing an additional 20,790 shares in the last quarter. SPC Financial Inc. purchased a new position in shares of KVH Industries during the 3rd quarter worth approximately $223,000. Moors & Cabot Inc. boosted its position in KVH Industries by 12.9% during the second quarter. Moors & Cabot Inc. now owns 105,718 shares of the communications equipment provider’s stock worth $1,016,000 after acquiring an additional 12,100 shares during the last quarter. Finally, State Street Corp boosted its position in KVH Industries by 6.2% during the second quarter. State Street Corp now owns 267,550 shares of the communications equipment provider’s stock worth $2,540,000 after acquiring an additional 15,506 shares during the last quarter. 61.25% of the stock is owned by institutional investors and hedge funds.

About KVH Industries

KVH Industries, Inc is a manufacturer of solutions that provide high-speed Internet, television and voice services through satellite to mobile users at sea and on land. The Company also provides commercially licensed entertainment, including news, sports, music and movies, to commercial and leisure customers in the maritime, hotel and retail markets.

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