KVH Industries, Inc. $KVHI Holdings Raised by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its position in shares of KVH Industries, Inc. (NASDAQ:KVHI) by 22.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 345,515 shares of the communications equipment provider’s stock after acquiring an additional 62,407 shares during the period. Renaissance Technologies LLC owned about 1.77% of KVH Industries worth $3,096,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KVHI. Hillsdale Investment Management Inc. bought a new position in KVH Industries in the fourth quarter worth about $54,000. HRT Financial LP bought a new position in shares of KVH Industries during the fourth quarter valued at approximately $70,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of KVH Industries during the 4th quarter worth approximately $86,000. NewEdge Advisors LLC acquired a new stake in shares of KVH Industries during the 3rd quarter worth approximately $90,000. Finally, Virtu Financial LLC bought a new stake in shares of KVH Industries in the 4th quarter worth approximately $102,000. 73.66% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Bradley Louis Radoff sold 35,000 shares of the 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 completion of the sale, the insider directly owned 290,000 shares in the company, valued at approximately $3,248,000. This trade represents a 10.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 39,092 shares of company stock worth $423,099 in the last ninety days. 21.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

KVHI has been the topic of a number of research analyst reports. Wall Street Zen lowered 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 report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

KVH Industries Price Performance

KVHI stock opened at $8.03 on Friday. The company’s 50 day simple moving average is $8.94 and its 200-day simple moving average is $8.52. The firm has a market capitalization of $156.59 million, a P/E 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). KVH Industries had a negative return on equity of 0.76% and a negative net margin of 4.68%.The business had revenue of $33.72 million during the quarter, compared to analysts’ expectations of $33.70 million.

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.