Quantbot Technologies LP purchased a new position in shares of Knowles Corporation (NYSE:KN – Free Report) during the second quarter, HoldingsChannel reports. The fund purchased 52,338 shares of the communications equipment provider’s stock, valued at approximately $2,171,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its position in shares of Knowles by 35.9% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,151 shares of the communications equipment provider’s stock valued at $48,000 after buying an additional 304 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in Knowles by 0.6% during the first quarter. Y Intercept Hong Kong Ltd now owns 76,098 shares of the communications equipment provider’s stock worth $1,954,000 after acquiring an additional 463 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Knowles by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 16,612 shares of the communications equipment provider’s stock worth $356,000 after acquiring an additional 504 shares in the last quarter. Pacer Advisors Inc. grew its stake in Knowles by 5.3% in the first quarter. Pacer Advisors Inc. now owns 12,137 shares of the communications equipment provider’s stock valued at $312,000 after acquiring an additional 609 shares during the period. Finally, Royal Bank of Canada grew its stake in Knowles by 1.2% in the fourth quarter. Royal Bank of Canada now owns 53,002 shares of the communications equipment provider’s stock valued at $1,136,000 after acquiring an additional 638 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.
Knowles Price Performance
Shares of NYSE KN opened at $32.59 on Tuesday. The firm has a market cap of $2.78 billion, a PE ratio of 42.33 and a beta of 1.60. The company has a current ratio of 3.20, a quick ratio of 1.75 and a debt-to-equity ratio of 0.16. Knowles Corporation has a 1-year low of $20.57 and a 1-year high of $42.93. The company has a fifty day moving average price of $37.77 and a 200 day moving average price of $32.94.
Insider Transactions at Knowles
In related news, SVP Raymond D. Cabrera sold 6,178 shares of Knowles stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $36.28, for a total value of $224,137.84. Following the sale, the senior vice president owned 127,945 shares of the company’s stock, valued at approximately $4,641,844.60. This trade represents a 4.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cheryl L. Shavers sold 6,618 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $39.27, for a total value of $259,888.86. Following the completion of the sale, the director owned 35,723 shares in the company, valued at $1,402,842.21. The trade was a 15.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,997 shares of company stock valued at $1,237,928 over the last three months. Company insiders own 2.24% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on KN shares. Zacks Research upgraded Knowles from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Robert W. Baird set a $44.00 price objective on Knowles in a report on Friday, July 24th. Susquehanna boosted their price objective on Knowles from $33.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Wall Street Zen cut Knowles from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings upgraded shares of Knowles from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Knowles currently has a consensus rating of “Buy” and a consensus target price of $40.67.
Check Out Our Latest Report on Knowles
About Knowles
Knowles Corporation (NYSE: KN) is a leading developer and manufacturer of advanced micro-acoustic, audio processing and precision device solutions. The company’s product portfolio includes microelectromechanical systems (MEMS) microphones, balanced armature receivers, acoustic filters, and custom audio processing integrated circuits. These solutions are designed to enable clear speech, enhanced voice capture and intelligent audio performance in a variety of end markets.
Founded in 1946, Knowles has evolved from its roots in vacuum tube components to become a pure-play audio technology provider following its spin-off from Dover Corporation in 2014.
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