Potomac Capital Management Inc. acquired a new position in KVH Industries, Inc. (NASDAQ:KVHI – Free Report) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 466,600 shares of the communications equipment provider’s stock, valued at approximately $3,252,000. KVH Industries comprises 2.6% of Potomac Capital Management Inc.’s portfolio, making the stock its 11th biggest holding.
Several other large investors also recently modified their holdings of KVHI. O Shaughnessy Asset Management LLC bought a new stake in shares of KVH Industries in the fourth quarter worth $521,000. Mink Brook Asset Management LLC lifted its position in KVH Industries by 84.5% during the second quarter. Mink Brook Asset Management LLC now owns 153,683 shares of the communications equipment provider’s stock valued at $819,000 after purchasing an additional 70,382 shares in the last quarter. Ritholtz Wealth Management bought a new stake in KVH Industries during the fourth quarter valued at about $355,000. Peapod Lane Capital LLC grew its holdings in KVH Industries by 13.7% during the third quarter. Peapod Lane Capital LLC now owns 411,676 shares of the communications equipment provider’s stock valued at $2,305,000 after purchasing an additional 49,590 shares during the period. Finally, Pekin Hardy Strauss Inc. bought a new stake in KVH Industries during the fourth quarter valued at about $321,000. Institutional investors own 73.66% of the company’s stock.
Insider Activity at KVH Industries
In other news, major shareholder Bradley Louis Radoff sold 35,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $11.20, for a total value of $392,000.00. Following the transaction, the insider directly owned 290,000 shares in the company, valued at $3,248,000. The trade was 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 available at this hyperlink. 21.40% of the stock is owned by insiders.
Analysts Set New Price Targets
Read Our Latest Stock Analysis on KVH Industries
KVH Industries Stock Performance
NASDAQ:KVHI opened at $7.51 on Wednesday. The stock has a 50-day simple moving average of $9.71 and a two-hundred day simple moving average of $7.82. KVH Industries, Inc. has a 52-week low of $5.09 and a 52-week high of $13.00. The firm has a market capitalization of $146.45 million, a PE ratio of -28.88 and a beta of 0.43.
KVH Industries (NASDAQ:KVHI – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The communications equipment provider reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.05. KVH Industries had a negative return on equity of 0.80% and a negative net margin of 4.31%.The business had revenue of $32.32 million for the quarter, compared to the consensus estimate of $30.56 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.
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