Hodges Capital Management Inc. Reduces Position in Knowles Corporation (KN)
Hodges Capital Management Inc. lowered its stake in Knowles Corporation (NYSE:KN) by 93.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,850 shares of the communications equipment provider’s stock after selling 158,650 shares during the quarter. Hodges Capital Management Inc.’s holdings in Knowles Corporation were worth $181,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of KN. LS Investment Advisors LLC raised its position in Knowles Corporation by 17.9% in the second quarter. LS Investment Advisors LLC now owns 6,953 shares of the communications equipment provider’s stock worth $118,000 after acquiring an additional 1,056 shares during the period. Riverhead Capital Management LLC raised its position in Knowles Corporation by 88.1% in the second quarter. Riverhead Capital Management LLC now owns 6,959 shares of the communications equipment provider’s stock worth $118,000 after acquiring an additional 3,259 shares during the period. ING Groep NV bought a new position in Knowles Corporation in the second quarter worth approximately $184,000. Raymond James Trust N.A. raised its position in Knowles Corporation by 9.4% in the second quarter. Raymond James Trust N.A. now owns 11,017 shares of the communications equipment provider’s stock worth $187,000 after acquiring an additional 948 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Knowles Corporation in the second quarter worth approximately $203,000.
Several research firms have weighed in on KN. Zacks Investment Research downgraded shares of Knowles Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. Robert W. Baird reiterated a “buy” rating and issued a $20.00 price target on shares of Knowles Corporation in a research report on Friday, October 27th. Finally, BidaskClub upgraded shares of Knowles Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.75.
Shares of Knowles Corporation (NYSE KN) opened at $16.16 on Friday. The company has a market cap of $1,446.70, a price-to-earnings ratio of 23.78, a PEG ratio of 2.51 and a beta of 0.80. Knowles Corporation has a 52-week low of $14.11 and a 52-week high of $19.90. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.43 and a current ratio of 2.39.
Knowles Corporation (NYSE:KN) last announced its quarterly earnings data on Wednesday, October 25th. The communications equipment provider reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.09. The firm had revenue of $221.70 million for the quarter, compared to the consensus estimate of $220.62 million. Knowles Corporation had a net margin of 0.25% and a return on equity of 6.13%. The company’s revenue was down 8.8% on a year-over-year basis. During the same period last year, the firm earned $0.37 EPS. analysts anticipate that Knowles Corporation will post 0.64 earnings per share for the current fiscal year.
Knowles Corporation Company Profile
Knowles Corporation is a global supplier of micro-acoustic, audio processing and specialty component solutions, serving the mobile consumer electronics, communications, medical, military, aerospace and industrial markets. The Company operates through two segments: Mobile Consumer Electronics (MCE) and Specialty Components (SC).
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