Zacks Investment Research downgraded shares of KVH Industries, Inc. (NASDAQ:KVHI) from a buy rating to a hold rating in a research note issued to investors on Friday morning.
According to Zacks, “KVH Europe A/S is a wholly owned subsidiary of USA-based KVH Industries, Inc. KVH is a leading provider of in-motion satellite TV and communication systems, having designed, manufactured, and sold more than one lakhs mobile satellite antennas for applications on boats, RVs, trucks, buses, and automobiles. KVH Europe is the preferred supplier of marine satellite TV systems to leading powerboat builders like Sunseeker, Princess, Fairline, Rodriquez, Azimut, and Astondoa. KVH’s mission is to connect mobile customers with the same digital television entertainment, communications, and Internet services that they enjoy in their home and offices. “
KVH Industries (NASDAQ KVHI) opened at 11.50 on Friday. The stock’s market cap is $196.51 million. The stock has a 50 day moving average price of $11.83 and a 200-day moving average price of $10.35. KVH Industries has a 52 week low of $7.50 and a 52 week high of $12.75.
KVH Industries (NASDAQ:KVHI) last posted its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.20. KVH Industries had a negative net margin of 6.35% and a positive return on equity of 1.85%. The firm had revenue of $40.50 million for the quarter, compared to analysts’ expectations of $40.55 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. On average, equities analysts anticipate that KVH Industries will post $0.12 EPS for the current fiscal year.
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Several large investors have recently bought and sold shares of the company. SPC Financial Inc. purchased a new stake in shares of KVH Industries during the third quarter valued at approximately $223,000. Moors & Cabot Inc. grew its holdings in shares of KVH Industries by 12.9% during the second quarter. Moors & Cabot Inc. now owns 105,718 shares of the communications equipment provider’s stock valued at $1,016,000 after buying an additional 12,100 shares during the last quarter. State Street Corp grew its holdings in shares of KVH Industries by 6.2% during the second quarter. State Street Corp now owns 267,550 shares of the communications equipment provider’s stock valued at $2,540,000 after buying an additional 15,506 shares during the last quarter. Cornerstone Capital Management Holdings LLC. grew its holdings in shares of KVH Industries by 200.8% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 38,800 shares of the communications equipment provider’s stock valued at $368,000 after buying an additional 25,900 shares during the last quarter. Finally, PDT Partners LLC purchased a new stake in shares of KVH Industries during the second quarter valued at approximately $336,000. Hedge funds and other institutional investors own 61.14% of the company’s stock.
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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