Brent Bruun Sells 2,230 Shares of KVH Industries (NASDAQ:KVHI) Stock

KVH Industries, Inc. (NASDAQ:KVHI) CEO Brent Bruun sold 2,230 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $7.60, for a total value of $16,948.00. Following the completion of the transaction, the chief executive officer owned 167,394 shares of the company’s stock, valued at $1,272,194.40. The trade was a 1.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

KVH Industries Stock Performance

Shares of KVHI opened at $8.62 on Friday. KVH Industries, Inc. has a 52 week low of $5.09 and a 52 week high of $13.00. The stock has a market capitalization of $168.09 million, a price-to-earnings ratio of -33.15 and a beta of 0.43. The stock has a fifty day moving average of $9.66 and a 200-day moving average of $7.85.

KVH Industries (NASDAQ:KVHI) last announced its quarterly earnings results on Wednesday, May 6th. The communications equipment provider reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. KVH Industries had a negative return on equity of 0.80% and a negative net margin of 4.31%.The company had revenue of $32.32 million during the quarter, compared to analysts’ expectations of $30.56 million.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KVHI shares. Wall Street Zen downgraded KVH Industries from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of KVH Industries in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hillsdale Investment Management Inc. acquired a new position in KVH Industries during the 4th quarter valued at about $54,000. HRT Financial LP acquired a new position in KVH Industries during the 4th quarter valued at about $70,000. OMERS ADMINISTRATION Corp acquired a new position in KVH Industries during the 4th quarter valued at about $86,000. Virtu Financial LLC acquired a new position in KVH Industries during the 4th quarter valued at about $102,000. Finally, NewEdge Advisors LLC acquired a new position in KVH Industries during the 3rd quarter valued at about $90,000. 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.