Citigroup Inc. reduced its holdings in KVH Industries, Inc. (NASDAQ:KVHI) by 57.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,714 shares of the communications equipment provider’s stock after selling 17,495 shares during the period. Citigroup Inc. owned about 0.08% of KVH Industries worth $121,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of KVHI. Cornerstone Capital Management Holdings LLC. acquired a new stake in KVH Industries in the first quarter valued at approximately $108,000. SG Americas Securities LLC acquired a new stake in KVH Industries in the second quarter valued at approximately $108,000. Russell Investments Group Ltd. grew its holdings in KVH Industries by 26.6% in the first quarter. Russell Investments Group Ltd. now owns 13,311 shares of the communications equipment provider’s stock valued at $112,000 after purchasing an additional 2,800 shares during the period. Parametric Portfolio Associates LLC grew its holdings in KVH Industries by 2.2% in the first quarter. Parametric Portfolio Associates LLC now owns 20,504 shares of the communications equipment provider’s stock valued at $172,000 after purchasing an additional 442 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in KVH Industries by 20.0% in the first quarter. PNC Financial Services Group Inc. now owns 21,600 shares of the communications equipment provider’s stock valued at $182,000 after purchasing an additional 3,600 shares during the period. 61.30% of the stock is currently owned by institutional investors.
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Shares of KVH Industries, Inc. (NASDAQ:KVHI) opened at 11.45 on Thursday. The firm has a 50-day moving average price of $11.80 and a 200 day moving average price of $10.25. KVH Industries, Inc. has a one year low of $7.50 and a one year high of $12.75. The firm’s market capitalization is $195.66 million.
KVH Industries (NASDAQ:KVHI) last issued its earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.20. The business had revenue of $40.50 million during the quarter, compared to the consensus estimate of $40.55 million. KVH Industries had a positive return on equity of 1.85% and a negative net margin of 6.35%. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 EPS. Equities analysts forecast that KVH Industries, Inc. will post $0.12 earnings per share for the current fiscal year.
Separately, Zacks Investment Research raised KVH Industries from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Wednesday, October 18th.
KVH Industries Company Profile
KVH Industries, Inc is a manufacturer of solutions that provide high-speed Internet, television and voice services through satellite to mobile users at sea and on land. The Company also provides commercially licensed entertainment, including news, sports, music and movies, to commercial and leisure customers in the maritime, hotel and retail markets.
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