Zacks Investment Research lowered shares of KVH Industries (NASDAQ:KVHI) from a hold rating to a sell rating in a research report released on Wednesday, March 14th.
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. “
Separately, ValuEngine cut KVH Industries from a hold rating to a sell rating in a research note on Sunday, December 31st.
NASDAQ KVHI traded down $0.05 on Wednesday, reaching $10.25. The stock had a trading volume of 10,460 shares, compared to its average volume of 23,945. The company has a current ratio of 2.26, a quick ratio of 1.73 and a debt-to-equity ratio of 0.42. KVH Industries has a 12-month low of $7.65 and a 12-month high of $12.65. The stock has a market cap of $180.51, a P/E ratio of -78.85 and a beta of 0.79.
KVH Industries (NASDAQ:KVHI) last issued its quarterly earnings data on Friday, March 2nd. The communications equipment provider reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.07). KVH Industries had a negative net margin of 6.89% and a negative return on equity of 1.25%. The firm had revenue of $38.98 million during the quarter, compared to analysts’ expectations of $40.11 million. research analysts predict that KVH Industries will post -0.18 earnings per share for the current year.
In other KVH Industries news, CEO Van Heyningen Martin Kits sold 3,295 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $10.35, for a total value of $34,103.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 20,611 shares of company stock valued at $205,112. 9.70% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC raised its stake in shares of KVH Industries by 0.8% during the second quarter. Parametric Portfolio Associates LLC now owns 20,669 shares of the communications equipment provider’s stock worth $196,000 after purchasing an additional 165 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of KVH Industries during the fourth quarter worth approximately $196,000. Wells Fargo & Company MN raised its stake in shares of KVH Industries by 73.1% during the third 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 during the last quarter. Teachers Advisors LLC raised its stake in shares of KVH Industries by 14.0% during the second quarter. Teachers Advisors LLC now owns 26,203 shares of the communications equipment provider’s stock worth $249,000 after purchasing an additional 3,227 shares during the last quarter. Finally, Burney Co. purchased a new stake in shares of KVH Industries during the fourth quarter worth approximately $303,000. Institutional investors and hedge funds own 54.88% of the company’s stock.
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About KVH Industries
KVH Industries, Inc designs, develops, manufactures, and markets mobile connectivity products and services for the marine and land mobile markets in the United States and internationally. The company offers mobile satellite TV and communications products, including satellite TV antennas; two-way satellite communications systems; onboard V-IP terminals and hub equipment; network management hardware and software products for maritime communications; and Iridium OpenPort hardware products and services.
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