Renaissance Technologies LLC Purchases 47,800 Shares of KVH Industries, Inc. (KVHI)
Renaissance Technologies LLC boosted its stake in shares of KVH Industries, Inc. (NASDAQ:KVHI) by 13.9% during the first quarter, Holdings Channel reports. The institutional investor owned 390,900 shares of the communications equipment provider’s stock after buying an additional 47,800 shares during the period. Renaissance Technologies LLC’s holdings in KVH Industries were worth $3,284,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Bank of Montreal Can increased its stake in shares of KVH Industries by 4,123.0% in the first quarter. Bank of Montreal Can now owns 11,951 shares of the communications equipment provider’s stock valued at $100,000 after buying an additional 11,668 shares in the last quarter. Cornerstone Capital Management Holdings LLC. bought a new position in KVH Industries during the first quarter valued at approximately $108,000. Globeflex Capital L P boosted its position in KVH Industries by 17,702.7% in the first quarter. Globeflex Capital L P now owns 13,174 shares of the communications equipment provider’s stock valued at $111,000 after buying an additional 13,100 shares during the last quarter. Russell Investments Group Ltd. boosted its position in KVH Industries by 26.6% in the first quarter. Russell Investments Group Ltd. now owns 13,311 shares of the communications equipment provider’s stock valued at $112,000 after buying an additional 2,800 shares during the last quarter. Finally, Genesee Valley Trust Co. boosted its position in KVH Industries by 12.5% in the first quarter. Genesee Valley Trust Co. now owns 14,421 shares of the communications equipment provider’s stock valued at $121,000 after buying an additional 1,606 shares during the last quarter. Hedge funds and other institutional investors own 64.22% of the company’s stock.
Shares of KVH Industries, Inc. (KVHI) traded up 1.78% during trading on Friday, hitting $11.45. 4,428 shares of the stock traded hands. The company has a 50 day moving average of $10.18 and a 200-day moving average of $9.35. The company’s market cap is $195.66 million. KVH Industries, Inc. has a 1-year low of $7.50 and a 1-year high of $12.75.
KVH Industries (NASDAQ:KVHI) last announced its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.20. KVH Industries had a positive return on equity of 1.85% and a negative net margin of 6.35%. The company had revenue of $40.50 million during the quarter, compared to analysts’ expectations of $40.55 million. During the same period in the prior year, the business posted $0.08 EPS. KVH Industries’s revenue was down 12.0% on a year-over-year basis. On average, equities analysts anticipate that KVH Industries, Inc. will post $0.12 EPS for the current fiscal year.
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KVHI has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of KVH Industries in a research note on Friday, May 12th. Zacks Investment Research raised shares of KVH Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, May 30th. Finally, TheStreet raised shares of KVH Industries from a “d+” rating to a “c-” rating in a research note on Wednesday, June 7th.
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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