KVH Industries (NASDAQ:KVHI) CEO Brent Bruun Sells 2,230 Shares of Stock

KVH Industries, Inc. (NASDAQ:KVHIGet Free Report) CEO Brent Bruun sold 2,230 shares of KVH Industries stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $7.60, for a total value of $16,948.00. Following the completion of the sale, the chief executive officer directly owned 167,394 shares in the company, valued at $1,272,194.40. This represents a 1.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

KVH Industries Stock Performance

NASDAQ:KVHI opened at $8.62 on Friday. The stock’s 50-day simple moving average is $9.66 and its 200 day simple moving average is $7.85. The company has a market cap of $168.09 million, a P/E ratio of -33.15 and a beta of 0.43. KVH Industries, Inc. has a 52-week low of $5.09 and a 52-week high of $13.00.

KVH Industries (NASDAQ:KVHIGet Free Report) last released its earnings results on Wednesday, May 6th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. The business had revenue of $32.32 million for the quarter, compared to the consensus estimate of $30.56 million. KVH Industries had a negative return on equity of 0.80% and a negative net margin of 4.31%.

Analysts Set New Price Targets

KVHI has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KVH Industries in a research report on Friday, March 27th. Wall Street Zen lowered KVH Industries from a “buy” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Check Out Our Latest Stock Report on KVH Industries

Hedge Funds Weigh In On KVH Industries

Institutional investors have recently bought and sold shares of the business. Potomac Capital Management Inc. acquired a new position in KVH Industries during the fourth quarter worth approximately $3,252,000. Virtu Financial LLC acquired a new position in KVH Industries during the fourth quarter worth approximately $102,000. NewEdge Advisors LLC acquired a new position in KVH Industries during the third quarter worth approximately $90,000. HRT Financial LP acquired a new position in KVH Industries during the fourth quarter worth approximately $70,000. Finally, Sei Investments Co. increased its position in KVH Industries by 78.4% during the first quarter. Sei Investments Co. now owns 23,964 shares of the communications equipment provider’s stock worth $215,000 after buying an additional 10,528 shares during the last quarter. Institutional investors and hedge funds own 73.66% of the company’s stock.

KVH Industries Company Profile

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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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