KVH Industries, Inc. $KVHI Stock Position Decreased by Needham Investment Management LLC

Needham Investment Management LLC decreased its holdings in shares of KVH Industries, Inc. (NASDAQ:KVHI) by 23.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 390,000 shares of the communications equipment provider’s stock after selling 119,300 shares during the quarter. Needham Investment Management LLC owned approximately 1.99% of KVH Industries worth $2,718,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Hillsdale Investment Management Inc. bought a new position in shares of KVH Industries during the fourth quarter valued at approximately $54,000. HRT Financial LP bought a new stake in shares of KVH Industries in the 4th quarter worth approximately $70,000. OMERS ADMINISTRATION Corp acquired a new position in KVH Industries during the 4th quarter valued at approximately $86,000. NewEdge Advisors LLC bought a new position in KVH Industries during the 3rd quarter worth $90,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in KVH Industries during the 3rd quarter worth $113,000. Institutional investors own 73.66% of the company’s stock.

KVH Industries Price Performance

KVHI opened at $8.84 on Tuesday. KVH Industries, Inc. has a 12 month low of $5.09 and a 12 month high of $13.00. The stock has a market cap of $172.38 million, a P/E ratio of -34.00 and a beta of 0.43. The stock’s 50 day moving average price is $9.66 and its 200 day moving average price is $7.88.

KVH Industries (NASDAQ:KVHI) last announced its quarterly earnings results on Wednesday, May 6th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. The company had revenue of $32.32 million during the quarter, compared to analyst estimates of $30.56 million. KVH Industries had a negative return on equity of 0.80% and a negative net margin of 4.31%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wall Street Zen cut KVH Industries from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KVH Industries in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, KVH Industries has an average rating of “Sell”.

Insider Buying and Selling at KVH Industries

In other news, major shareholder Bradley Louis Radoff sold 35,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $11.20, for a total value of $392,000.00. Following the completion of the transaction, the insider directly owned 290,000 shares in the company, valued at $3,248,000. This trade represents a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 39,092 shares of company stock valued at $423,099. Corporate insiders own 21.40% of the company’s stock.

KVH Industries Company Profile

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.