Systematic Financial Management LP Cuts Stock Holdings in KVH Industries, Inc. $KVHI

Systematic Financial Management LP lowered its stake in shares of KVH Industries, Inc. (NASDAQ:KVHI) by 15.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 906,214 shares of the communications equipment provider’s stock after selling 167,168 shares during the quarter. Systematic Financial Management LP’s holdings in KVH Industries were worth $8,120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of KVHI. Potomac Capital Management Inc. bought a new position in KVH Industries during the 4th quarter valued at $3,252,000. Bridgeway Capital Management LLC grew its stake in shares of KVH Industries by 126.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 145,284 shares of the communications equipment provider’s stock worth $1,013,000 after acquiring an additional 81,252 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of KVH Industries in the fourth quarter valued at about $521,000. Mink Brook Asset Management LLC lifted its position 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 valued at $819,000 after purchasing an additional 70,382 shares in the last quarter. Finally, Ritholtz Wealth Management bought a new position in shares of KVH Industries during the fourth quarter valued at about $355,000. 73.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at KVH Industries

In other news, major shareholder Bradley Louis Radoff sold 35,000 shares of the company’s stock in a transaction 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 transaction, the insider owned 290,000 shares of the company’s stock, valued at $3,248,000. This represents a 10.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 39,092 shares of company stock worth $423,099. 21.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KVHI. Wall Street Zen cut shares of KVH Industries from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of KVH Industries in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

KVH Industries Trading Up 0.4%

NASDAQ:KVHI opened at $9.06 on Friday. KVH Industries, Inc. has a 12 month low of $5.09 and a 12 month high of $13.00. The firm’s 50 day moving average is $9.30 and its 200 day moving average is $8.40. The stock has a market capitalization of $176.67 million, a PE ratio of -34.85 and a beta of 0.43.

KVH Industries (NASDAQ:KVHI) last announced its quarterly earnings data on Wednesday, May 6th. The communications equipment provider reported $0.03 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $32.32 million during the quarter, compared to analyst estimates of $30.56 million.

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.