Renaissance Technologies LLC Buys 62,407 Shares of KVH Industries, Inc. $KVHI

Renaissance Technologies LLC raised its stake in shares of KVH Industries, Inc. (NASDAQ:KVHI) by 22.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 345,515 shares of the communications equipment provider’s stock after purchasing an additional 62,407 shares during the period. Renaissance Technologies LLC’s holdings in KVH Industries were worth $3,096,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Potomac Capital Management Inc. acquired a new position in shares of KVH Industries during the 4th quarter worth about $3,252,000. Peapod Lane Capital LLC grew its holdings in KVH Industries by 0.7% in the 4th quarter. Peapod Lane Capital LLC now owns 414,734 shares of the communications equipment provider’s stock valued at $2,891,000 after buying an additional 3,058 shares during the last quarter. Geode Capital Management LLC increased its position in KVH Industries by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 160,108 shares of the communications equipment provider’s stock worth $1,116,000 after buying an additional 7,474 shares during the period. Mink Brook Asset Management LLC increased its position in KVH Industries by 84.5% in the 2nd 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 during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of KVH Industries by 126.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 145,284 shares of the communications equipment provider’s stock worth $1,013,000 after buying an additional 81,252 shares during the last quarter. Institutional investors own 73.66% of the company’s stock.

KVH Industries Stock Performance

Shares of KVHI opened at $8.03 on Friday. The business’s fifty day moving average price is $8.94 and its two-hundred day moving average price is $8.52. The firm has a market capitalization of $156.59 million, a price-to-earnings ratio of -26.77 and a beta of 0.44. KVH Industries, Inc. has a 52 week low of $5.09 and a 52 week high of $13.00.

KVH Industries (NASDAQ:KVHI) last announced its quarterly earnings data on Thursday, August 6th. The communications equipment provider reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The firm had revenue of $33.72 million during the quarter, compared to analyst estimates of $33.70 million. KVH Industries had a negative return on equity of 0.76% and a negative net margin of 4.68%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on KVHI shares. Wall Street Zen downgraded shares of KVH Industries from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KVH Industries in a research report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, KVH Industries presently has a consensus rating of “Sell”.

Insiders Place Their Bets

In related news, major shareholder Bradley Louis Radoff sold 35,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $11.20, for a total transaction of $392,000.00. Following the completion of the transaction, the insider directly owned 290,000 shares of the company’s stock, valued at approximately $3,248,000. This represents a 10.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 39,092 shares of company stock valued at $423,099 over the last ninety days. 21.40% of the stock is currently owned by company insiders.

KVH Industries 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.