KVH Industries (NASDAQ:KVHI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “KVH Europe A/S is a wholly owned subsidiary of USA-based KVH Industries, Inc. KVH is a leading provider of in-motion satellite TV and communication systems, having designed, manufactured, and sold more than one lakhs mobile satellite antennas for applications on boats, RVs, trucks, buses, and automobiles. KVH Europe is the preferred supplier of marine satellite TV systems to leading powerboat builders like Sunseeker, Princess, Fairline, Rodriquez, Azimut, and Astondoa. KVH’s mission is to connect mobile customers with the same digital television entertainment, communications, and Internet services that they enjoy in their home and offices. “

A number of other brokerages have also commented on KVHI. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of KVH Industries in a report on Friday, August 3rd. Chardan Capital raised KVH Industries from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Monday, September 24th.

Shares of NASDAQ KVHI opened at $12.72 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.45 and a debt-to-equity ratio of 0.38. KVH Industries has a one year low of $9.05 and a one year high of $14.15. The firm has a market capitalization of $231.40 million, a price-to-earnings ratio of -97.85 and a beta of 0.63.

KVH Industries (NASDAQ:KVHI) last issued its quarterly earnings data on Thursday, August 2nd. The communications equipment provider reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). KVH Industries had a negative return on equity of 0.95% and a negative net margin of 5.74%. The firm had revenue of $43.39 million for the quarter, compared to analyst estimates of $41.91 million. Equities analysts forecast that KVH Industries will post -0.11 earnings per share for the current fiscal year.

In other KVH Industries news, VP Felise Feingold sold 4,432 shares of the company’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $12.26, for a total value of $54,336.32. Following the transaction, the vice president now directly owns 54,146 shares of the company’s stock, valued at approximately $663,829.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp grew its holdings in KVH Industries by 5.1% in the 2nd quarter. Northern Trust Corp now owns 202,699 shares of the communications equipment provider’s stock valued at $2,716,000 after buying an additional 9,862 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of KVH Industries by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,304,082 shares of the communications equipment provider’s stock worth $17,475,000 after purchasing an additional 10,733 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of KVH Industries by 3.1% during the 2nd quarter. Renaissance Technologies LLC now owns 378,400 shares of the communications equipment provider’s stock worth $5,071,000 after purchasing an additional 11,500 shares in the last quarter. Portolan Capital Management LLC grew its holdings in shares of KVH Industries by 12.1% during the 2nd quarter. Portolan Capital Management LLC now owns 127,635 shares of the communications equipment provider’s stock worth $1,710,000 after purchasing an additional 13,793 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of KVH Industries by 5.3% during the 2nd quarter. BlackRock Inc. now owns 1,181,790 shares of the communications equipment provider’s stock worth $15,836,000 after purchasing an additional 59,508 shares in the last quarter. 54.56% of the stock is currently owned by hedge funds and other institutional investors.

About KVH Industries

KVH Industries, Inc designs, develops, manufactures, and markets mobile connectivity products and services for the marine and land mobile markets in the United States and internationally. The company offers mobile satellite TV and communications products, including satellite TV antennas; two-way satellite communications systems; onboard V-IP terminals and hub equipment; network management hardware and software products for maritime communications; and Iridium OpenPort hardware products and services.

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