KVH Industries, Inc. (NASDAQ:KVHI) Sees Significant Decrease in Short Interest

KVH Industries, Inc. (NASDAQ:KVHI) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totaling 44,275 shares, a drop of 26.0% from the December 15th total of 59,808 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 75,522 shares, the short-interest ratio is presently 0.6 days. Based on an average daily volume of 75,522 shares, the short-interest ratio is presently 0.6 days. Currently, 0.3% of the company’s stock are short sold.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KVHI. Wall Street Zen raised shares of KVH Industries to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of KVH Industries in a report on Monday, December 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

KVH Industries Trading Up 4.0%

NASDAQ KVHI traded up $0.29 during trading on Friday, reaching $7.59. The company’s stock had a trading volume of 57,861 shares, compared to its average volume of 57,022. KVH Industries has a 12 month low of $4.69 and a 12 month high of $7.71. The firm has a 50 day moving average price of $6.53 and a 200 day moving average price of $5.92. The firm has a market capitalization of $148.54 million, a price-to-earnings ratio of -12.24 and a beta of 0.69.

Insiders Place Their Bets

In other news, major shareholder Bradley Louis Radoff bought 40,000 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were bought at an average cost of $5.78 per share, with a total value of $231,200.00. Following the acquisition, the insider owned 2,150,000 shares in the company, valued at $12,427,000. This trade represents a 1.90% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen H. Deckoff acquired 60,201 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was acquired at an average price of $6.02 per share, for a total transaction of $362,410.02. Following the purchase, the director directly owned 3,498,596 shares of the company’s stock, valued at approximately $21,061,547.92. This trade represents a 1.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 138,660 shares of company stock valued at $825,071. 21.10% of the stock is owned by insiders.

Institutional Trading of KVH Industries

Several large investors have recently made changes to their positions in the company. First Eagle Investment Management LLC boosted its holdings in shares of KVH Industries by 77.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 196,344 shares of the communications equipment provider’s stock valued at $1,047,000 after purchasing an additional 85,509 shares in the last quarter. Peapod Lane Capital LLC boosted its stake in KVH Industries by 7.7% in the second quarter. Peapod Lane Capital LLC now owns 362,086 shares of the communications equipment provider’s stock valued at $1,930,000 after buying an additional 25,993 shares in the last quarter. Mink Brook Asset Management LLC increased its holdings in shares of KVH Industries by 84.5% during the second quarter. Mink Brook Asset Management LLC now owns 153,683 shares of the communications equipment provider’s stock worth $819,000 after buying an additional 70,382 shares in the last quarter. Orion Porfolio Solutions LLC raised its holdings in KVH Industries by 3.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 68,829 shares of the communications equipment provider’s stock valued at $367,000 after buying an additional 2,222 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in shares of KVH Industries by 134.0% during the first quarter. Jane Street Group LLC now owns 33,227 shares of the communications equipment provider’s stock valued at $176,000 after acquiring an additional 19,026 shares during the last quarter. Institutional investors and hedge funds own 73.66% of the company’s stock.

About KVH Industries

KVH Industries, Inc develops and manufactures mobile connectivity, inertial navigation, and stabilization systems for maritime, land mobile and defense markets. Its Satellite Communications Group delivers a range of mobile VSAT and broadband systems under the TracPhone and TracNet brands, offering high-speed data, voice and TV programming for commercial and leisure vessels. The company pairs its hardware offerings with the OneCare global network and service platform, providing 24/7 support and coverage across major satellite constellations.

The Inertial Systems Group at KVH produces fiber-optic and hemispherical resonator gyros, inertial measurement units (IMUs) and related inertial navigation products for aerospace, unmanned platforms and precision stabilization applications.