Medina Value Partners LLC Sells 230,112 Shares of Kornit Digital Ltd. $KRNT

Medina Value Partners LLC cut its stake in Kornit Digital Ltd. (NASDAQ:KRNT) by 24.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 712,972 shares of the industrial products company’s stock after selling 230,112 shares during the period. Kornit Digital makes up approximately 2.4% of Medina Value Partners LLC’s holdings, making the stock its 20th biggest position. Medina Value Partners LLC’s holdings in Kornit Digital were worth $10,253,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Van ECK Associates Corp boosted its holdings in Kornit Digital by 6.9% in the 4th quarter. Van ECK Associates Corp now owns 12,742 shares of the industrial products company’s stock valued at $183,000 after purchasing an additional 820 shares during the period. Raymond James Financial Inc. bought a new stake in Kornit Digital in the 2nd quarter valued at $31,000. State of Tennessee Department of Treasury bought a new stake in Kornit Digital in the 2nd quarter valued at $35,000. CIBC Private Wealth Group LLC boosted its holdings in Kornit Digital by 1,359.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,927 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 1,795 shares during the period. Finally, Johnson Financial Group Inc. bought a new stake in Kornit Digital in the 3rd quarter valued at $27,000. 92.76% of the stock is owned by institutional investors.

Kornit Digital Stock Performance

NASDAQ:KRNT opened at $15.77 on Monday. The company has a 50-day moving average of $15.67 and a 200-day moving average of $14.88. The company has a market capitalization of $706.34 million, a price-to-earnings ratio of -40.44 and a beta of 1.76. Kornit Digital Ltd. has a 52 week low of $11.93 and a 52 week high of $22.06.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Wednesday, May 13th. The industrial products company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $48.54 million during the quarter, compared to the consensus estimate of $46.67 million. Kornit Digital had a negative return on equity of 1.15% and a negative net margin of 7.93%.Kornit Digital’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $0.01 EPS. Sell-side analysts forecast that Kornit Digital Ltd. will post -0.17 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Sunday, April 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kornit Digital in a report on Wednesday, March 25th. Finally, Needham & Company LLC raised their price objective on shares of Kornit Digital from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.75.

About Kornit Digital

Kornit Digital Ltd. (NASDAQ: KRNT) is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha’Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.

The company’s flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.