Penn Capital Management Co. Inc. increased its stake in K2M Group Holdings, Inc. (NASDAQ:KTWO) by 14.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 197,169 shares of the medical device company’s stock after purchasing an additional 24,717 shares during the period. Penn Capital Management Co. Inc. owned 0.46% of K2M Group Holdings worth $4,803,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. GSA Capital Partners LLP bought a new stake in shares of K2M Group Holdings in the 2nd quarter worth approximately $515,000. Menta Capital LLC bought a new stake in shares of K2M Group Holdings in the 2nd quarter worth approximately $700,000. Nicholas Investment Partners LP lifted its holdings in shares of K2M Group Holdings by 48.3% in the 2nd quarter. Nicholas Investment Partners LP now owns 202,750 shares of the medical device company’s stock worth $4,938,000 after purchasing an additional 65,991 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of K2M Group Holdings by 118.3% in the 2nd quarter. New York State Common Retirement Fund now owns 75,893 shares of the medical device company’s stock worth $1,849,000 after purchasing an additional 41,134 shares during the last quarter. Finally, Columbia Partners L L C Investment Management bought a new stake in shares of K2M Group Holdings in the 2nd quarter worth approximately $2,207,000. 97.86% of the stock is currently owned by institutional investors and hedge funds.

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In other news, CFO Gregory S. Cole sold 39,357 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $23.37, for a total value of $919,773.09. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John Philip Md Kostuik sold 1,332 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $23.30, for a total value of $31,035.60. Following the completion of the transaction, the insider now directly owns 200,629 shares in the company, valued at $4,674,655.70. The disclosure for this sale can be found here. Insiders sold a total of 45,085 shares of company stock worth $1,056,903 over the last three months. 5.80% of the stock is owned by company insiders.

Several analysts recently issued reports on KTWO shares. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of K2M Group Holdings in a report on Thursday, June 22nd. JMP Securities reissued an “outperform” rating and issued a $30.00 price target (up previously from $27.00) on shares of K2M Group Holdings in a report on Wednesday, June 28th. Cowen and Company reissued a “buy” rating and issued a $26.00 price target on shares of K2M Group Holdings in a report on Wednesday, July 19th. BidaskClub raised K2M Group Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $26.00 price target on shares of K2M Group Holdings in a report on Thursday, July 20th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $27.14.

Shares of K2M Group Holdings, Inc. (KTWO) traded up 0.87% during mid-day trading on Friday, reaching $20.98. The company’s stock had a trading volume of 40,541 shares. The firm’s market capitalization is $907.76 million. K2M Group Holdings, Inc. has a 12 month low of $16.32 and a 12 month high of $25.99. The company has a 50 day moving average of $22.95 and a 200-day moving average of $22.37.

K2M Group Holdings (NASDAQ:KTWO) last announced its earnings results on Tuesday, August 1st. The medical device company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.01. The business had revenue of $65.70 million for the quarter, compared to the consensus estimate of $66.26 million. K2M Group Holdings had a negative return on equity of 15.45% and a negative net margin of 16.21%. K2M Group Holdings’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.27) EPS. Equities research analysts forecast that K2M Group Holdings, Inc. will post ($0.78) EPS for the current year.

K2M Group Holdings Profile

K2M Group Holdings, Inc is a medical device company focused on designing, developing and commercializing spine and minimally invasive technologies and techniques. The Company’s solutions are focused on achieving three-dimensional Total Body Balance. Its spine products are used by spine surgeons to treat spinal pathologies, such as deformity (primarily scoliosis), trauma and tumor.

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Institutional Ownership by Quarter for K2M Group Holdings (NASDAQ:KTWO)

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