Medina Value Partners LLC Has $10.25 Million Stock Position in Kornit Digital Ltd. $KRNT

Medina Value Partners LLC decreased its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 24.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 712,972 shares of the industrial products company’s stock after selling 230,112 shares during the quarter. Kornit Digital makes up about 2.4% of Medina Value Partners LLC’s holdings, making the stock its 20th biggest position. Medina Value Partners LLC owned approximately 1.59% of Kornit Digital worth $10,253,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Polar Asset Management Partners Inc. increased its stake in shares of Kornit Digital by 21.1% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 779,559 shares of the industrial products company’s stock worth $10,524,000 after purchasing an additional 135,709 shares during the last quarter. Invenomic Capital Management LP acquired a new position in shares of Kornit Digital during the 3rd quarter worth $6,356,000. Thompson Investment Management Inc. increased its stake in shares of Kornit Digital by 11.0% during the 4th quarter. Thompson Investment Management Inc. now owns 876,977 shares of the industrial products company’s stock worth $12,611,000 after purchasing an additional 87,216 shares during the last quarter. Ironwood Investment Management LLC acquired a new position in shares of Kornit Digital during the 3rd quarter worth $1,006,000. Finally, Baillie Gifford & Co. increased its stake in shares of Kornit Digital by 61.7% during the 4th quarter. Baillie Gifford & Co. now owns 1,565,079 shares of the industrial products company’s stock worth $22,506,000 after purchasing an additional 597,128 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Stock Performance

NASDAQ KRNT opened at $15.77 on Monday. The company has a fifty day simple moving average of $15.67 and a 200 day simple moving average of $14.88. The company has a market cap of $706.34 million, a P/E ratio of -40.44 and a beta of 1.76. Kornit Digital Ltd. has a 1 year low of $11.93 and a 1 year high of $22.06.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Wednesday, May 13th. The industrial products company reported ($0.01) earnings per share (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 net margin of 7.93% and a negative return on equity of 1.15%. Kornit Digital’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 EPS. Equities research analysts forecast that Kornit Digital Ltd. will post -0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

KRNT has been the topic of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Kornit Digital in a research note on Wednesday, March 25th. Needham & Company LLC increased their price target on shares of Kornit Digital from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Sunday, April 12th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Kornit Digital has an average rating of “Hold” and an average target price of $20.75.

Kornit Digital Company Profile

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.