Bank of New York Mellon Corp lowered its position in shares of KVH Industries, Inc. (NASDAQ:KVHI) by 52.2% in the third quarter, HoldingsChannel.com reports. The firm owned 60,234 shares of the communications equipment provider’s stock after selling 65,819 shares during the period. Bank of New York Mellon Corp’s holdings in KVH Industries were worth $720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Chicago Equity Partners LLC grew its holdings in KVH Industries by 50.0% during the third quarter. Chicago Equity Partners LLC now owns 62,379 shares of the communications equipment provider’s stock valued at $745,000 after purchasing an additional 20,790 shares during the period. SPC Financial Inc. acquired a new position in KVH Industries during the third quarter valued at approximately $223,000. Moors & Cabot Inc. grew its holdings 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 valued at $1,016,000 after purchasing an additional 12,100 shares during the period. State Street Corp grew its holdings 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 valued at $2,540,000 after purchasing an additional 15,506 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. grew its holdings in KVH Industries by 200.8% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 38,800 shares of the communications equipment provider’s stock valued at $368,000 after purchasing an additional 25,900 shares during the period. Hedge funds and other institutional investors own 56.46% of the company’s stock.

KVH Industries, Inc. (NASDAQ:KVHI) opened at $11.15 on Friday. The company has a quick ratio of 1.80, a current ratio of 2.30 and a debt-to-equity ratio of 0.43. KVH Industries, Inc. has a one year low of $7.65 and a one year high of $12.65. The firm has a market cap of $190.78, a P/E ratio of -11.15 and a beta of 0.76.

A number of brokerages recently issued reports on KVHI. Zacks Investment Research cut shares of KVH Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 9th. ValuEngine cut shares of KVH Industries from a “hold” rating to a “sell” rating in a report on Tuesday, December 5th. Finally, Needham & Company LLC restated a “buy” rating on shares of KVH Industries in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.33.

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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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Institutional Ownership by Quarter for KVH Industries (NASDAQ:KVHI)

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