Voxx International Corp. (VOXX) Sees Large Volume Increase on Insider Buying Activity
Shares of Voxx International Corp. (NASDAQ:VOXX) saw strong trading volume on Wednesday following insider buying activity. 143,208 shares were traded during trading, an increase of 52% from the previous session’s volume of 94,246 shares.The stock last traded at $2.76 and had previously closed at $2.69.
Specifically, insider Patrick M. Lavelle acquired 16,154 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The shares were bought at an average price of $3.04 per share, with a total value of $49,108.16. Following the completion of the transaction, the insider now directly owns 55,299 shares in the company, valued at $168,108.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ari Shalam acquired 13,333 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The shares were bought at an average cost of $2.99 per share, for a total transaction of $39,865.67. Following the transaction, the director now owns 7,734 shares of the company’s stock, valued at $23,124.66. The disclosure for this purchase can be found here. Insiders own 17.51% of the company’s stock.
Separately, Zacks Investment Research raised Voxx International Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th.
The company’s market cap is $64.99 million. The firm’s 50 day moving average price is $3.03 and its 200 day moving average price is $3.36.
Voxx International Corp. (NASDAQ:VOXX) last issued its quarterly earnings results on Monday, July 11th. The company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.08. Voxx International Corp. had a positive return on equity of 0.78% and a negative net margin of 0.93%. The company had revenue of $155.50 million for the quarter. During the same quarter last year, the business posted ($0.03) EPS. Voxx International Corp.’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, analysts expect that Voxx International Corp. will post $0.26 EPS for the current year.
A number of large investors have recently modified their holdings of the company. Springbok Capital Management LLC increased its stake in shares of Voxx International Corp. by 12.3% in the first quarter. Springbok Capital Management LLC now owns 27,390 shares of the company’s stock valued at $122,000 after buying an additional 2,990 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its position in Voxx International Corp. by 28.4% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 47,500 shares of the company’s stock valued at $133,000 after buying an additional 10,500 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in Voxx International Corp. by 95.7% in the second quarter. Oppenheimer & Co. Inc. now owns 54,800 shares of the company’s stock valued at $153,000 after buying an additional 26,800 shares in the last quarter. Renaissance Technologies LLC boosted its position in Voxx International Corp. by 307.5% in the first quarter. Renaissance Technologies LLC now owns 59,900 shares of the company’s stock valued at $268,000 after buying an additional 45,200 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in Voxx International Corp. during the second quarter valued at about $243,000. Institutional investors own 60.50% of the company’s stock.
Voxx International Corp. Company Profile
VOXX International Corporation is an international manufacturer and distributor in the automotive, audio and consumer accessories industries. The Company’s segments include Automotive, Premium Audio and Consumer Accessories. The Automotive segment designs, manufactures, distributes and markets rear-seat entertainment devices, satellite radio products, remote start systems, digital television tuners, mobile antennas, mobile multimedia devices, car link-smartphone telematics application, collision avoidance systems and others.
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