Investment Management of Virginia LLC reduced its position in KVH Industries, Inc. (NASDAQ:KVHI – Get Rating) by 49.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,597 shares of the communications equipment provider’s stock after selling 42,551 shares during the period. Investment Management of Virginia LLC owned approximately 0.23% of KVH Industries worth $402,000 at the end of the most recent quarter.
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Other large investors also recently modified their holdings of the company. Van ECK Associates Corp bought a new position in shares of KVH Industries in the 2nd quarter worth $42,000. Price T Rowe Associates Inc. MD bought a new position in shares of KVH Industries in the 2nd quarter worth $134,000. Bank of America Corp DE lifted its holdings in shares of KVH Industries by 18.8% in the 1st quarter. Bank of America Corp DE now owns 22,123 shares of the communications equipment provider’s stock worth $202,000 after purchasing an additional 3,504 shares in the last quarter. Trexquant Investment LP bought a new position in shares of KVH Industries in the 2nd quarter worth $218,000. Finally, Acadian Asset Management LLC lifted its stake in KVH Industries by 149.4% during the 1st quarter. Acadian Asset Management LLC now owns 37,776 shares of the communications equipment provider’s stock valued at $342,000 after acquiring an additional 22,629 shares in the last quarter. 64.19% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
KVHI has been the topic of several recent analyst reports. StockNews.com upgraded KVH Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, December 7th. Needham & Company LLC raised their price objective on KVH Industries from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, December 7th. TheStreet upgraded KVH Industries from a “d+” rating to a “c” rating in a research note on Tuesday, December 6th. Finally, Raymond James cut KVH Industries from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, December 8th.
KVH Industries Price Performance
NASDAQ KVHI opened at $10.22 on Friday. The stock has a market capitalization of $196.02 million, a price-to-earnings ratio of 9.92 and a beta of 0.59. KVH Industries, Inc. has a one year low of $6.89 and a one year high of $11.88. The business’s fifty day moving average is $10.34 and its 200-day moving average is $9.73.
KVH Industries (NASDAQ:KVHI – Get Rating) last released its earnings results on Tuesday, December 6th. The communications equipment provider reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.06. The company had revenue of $35.17 million for the quarter, compared to analysts’ expectations of $39.10 million. KVH Industries had a negative return on equity of 4.13% and a net margin of 12.05%. Research analysts expect that KVH Industries, Inc. will post -0.12 EPS for the current fiscal year.
KVH Industries Company Profile
KVH Industries, Inc engages in the provision of internet, television and voice services via satellite to mobile users at sea and on land. It operates through the Mobile Connectivity and Inertial Navigation segments. The Mobile Connectivity segment consists of satellite television and internet solutions and media and content delivery solutions.
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