KVH Industries (NASDAQ:KVHI) Major Shareholder Bradley Louis Radoff Sells 35,000 Shares

KVH Industries, Inc. (NASDAQ:KVHI) major shareholder Bradley Louis Radoff sold 35,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $11.20, for a total value of $392,000.00. Following the sale, the insider owned 290,000 shares in the company, valued at approximately $3,248,000. This represents a 10.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

KVH Industries Price Performance

NASDAQ:KVHI opened at $9.28 on Friday. The company has a market cap of $180.96 million, a P/E ratio of -35.69 and a beta of 0.43. The stock’s fifty day moving average price is $9.78 and its two-hundred day moving average price is $7.68. KVH Industries, Inc. has a 1 year low of $5.09 and a 1 year high of $13.00.

KVH Industries (NASDAQ:KVHI) last posted its earnings results on Wednesday, May 6th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.05. The firm had revenue of $32.32 million for the quarter, compared to the consensus estimate of $30.56 million. KVH Industries had a negative return on equity of 0.80% and a negative net margin of 4.31%.

Wall Street Analysts Forecast Growth

KVHI has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of KVH Industries in a research report on Friday, March 27th. Wall Street Zen downgraded KVH Industries from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in shares of KVH Industries by 132.3% in the first quarter. Bank of America Corp DE now owns 57,412 shares of the communications equipment provider’s stock worth $514,000 after purchasing an additional 32,702 shares during the period. Empowered Funds LLC increased its holdings in shares of KVH Industries by 9.3% in the first quarter. Empowered Funds LLC now owns 31,775 shares of the communications equipment provider’s stock worth $285,000 after purchasing an additional 2,691 shares during the period. Renaissance Technologies LLC increased its holdings in shares of KVH Industries by 22.0% in the first quarter. Renaissance Technologies LLC now owns 345,515 shares of the communications equipment provider’s stock worth $3,096,000 after purchasing an additional 62,407 shares during the period. Sei Investments Co. increased its holdings in shares of KVH Industries by 78.4% in the first quarter. Sei Investments Co. now owns 23,964 shares of the communications equipment provider’s stock worth $215,000 after purchasing an additional 10,528 shares during the period. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of KVH Industries by 332.5% in the first quarter. Hillsdale Investment Management Inc. now owns 33,746 shares of the communications equipment provider’s stock worth $302,000 after purchasing an additional 25,944 shares during the period. Institutional investors own 73.66% of the company’s stock.

KVH Industries Company Profile

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.