Panagora Asset Management Inc. increased its stake in KVH Industries, Inc. (NASDAQ:KVHI) by 1,464.8% in the second quarter, Holdings Channel.com reports. The firm owned 20,561 shares of the communications equipment provider’s stock after purchasing an additional 19,247 shares during the quarter. Panagora Asset Management Inc.’s holdings in KVH Industries were worth $223,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake in KVH Industries by 565.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,458 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 2,938 shares during the period. Bank of America Corp DE boosted its stake in KVH Industries by 37.4% in the 4th quarter. Bank of America Corp DE now owns 14,693 shares of the communications equipment provider’s stock worth $152,000 after purchasing an additional 3,999 shares during the period. B. Riley Financial Inc. acquired a new position in KVH Industries in the 1st quarter worth $255,000. Wells Fargo & Company MN boosted its stake in KVH Industries by 18.6% in the 2nd quarter. Wells Fargo & Company MN now owns 29,941 shares of the communications equipment provider’s stock worth $325,000 after purchasing an additional 4,685 shares during the period. Finally, White Pine Capital LLC acquired a new position in KVH Industries in the 1st quarter worth $401,000. 56.30% of the stock is owned by hedge funds and other institutional investors.
Shares of KVH Industries stock traded up $0.17 during trading hours on Friday, reaching $10.43. 32,436 shares of the company’s stock were exchanged, compared to its average volume of 31,411. The company has a 50 day moving average of $9.48 and a two-hundred day moving average of $10.00. KVH Industries, Inc. has a fifty-two week low of $8.64 and a fifty-two week high of $13.20. The company has a current ratio of 2.50, a quick ratio of 2.02 and a debt-to-equity ratio of 0.02. The stock has a market cap of $185.68 million, a P/E ratio of -86.92 and a beta of 0.92.
KVH Industries (NASDAQ:KVHI) last posted its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.06). KVH Industries had a negative return on equity of 6.13% and a net margin of 22.83%. The business had revenue of $41.00 million for the quarter, compared to analyst estimates of $40.32 million. As a group, analysts expect that KVH Industries, Inc. will post -0.64 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on KVHI shares. ValuEngine raised shares of KVH Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 17th. Zacks Investment Research lowered shares of KVH Industries from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 17th. Chardan Capital restated a “buy” rating and set a $20.00 price objective on shares of KVH Industries in a research note on Monday, August 5th. TheStreet downgraded shares of KVH Industries from a “c-” rating to a “d+” rating in a research note on Tuesday, August 13th. Finally, B. Riley set a $15.00 price objective on shares of KVH Industries and gave the stock a “buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $14.00.
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; 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.
Featured Article: What is a death cross?
Want to see what other hedge funds are holding KVHI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KVH Industries, Inc. (NASDAQ:KVHI).
Receive News & Ratings for KVH Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KVH Industries and related companies with MarketBeat.com's FREE daily email newsletter.