Van Heyningen Martin Kits Sells 2,676 Shares of KVH Industries, Inc. (NASDAQ:KVHI) Stock

KVH Industries, Inc. (NASDAQ:KVHI) CEO Van Heyningen Martin Kits sold 2,676 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $9.40, for a total value of $25,154.40. Following the transaction, the chief executive officer now directly owns 841,105 shares in the company, valued at approximately $7,906,387. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Van Heyningen Martin Kits also recently made the following trade(s):

  • On Tuesday, April 2nd, Van Heyningen Martin Kits sold 1,036 shares of KVH Industries stock. The shares were sold at an average price of $10.08, for a total value of $10,442.88.
  • On Wednesday, March 27th, Van Heyningen Martin Kits sold 3,293 shares of KVH Industries stock. The shares were sold at an average price of $10.21, for a total value of $33,621.53.

NASDAQ KVHI traded up $0.06 on Wednesday, reaching $9.56. The company had a trading volume of 1,383 shares, compared to its average volume of 30,189. The company has a market capitalization of $169.32 million, a PE ratio of -79.67 and a beta of 0.75. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.24. KVH Industries, Inc. has a 52 week low of $9.09 and a 52 week high of $14.15.

KVH Industries (NASDAQ:KVHI) last released its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.06). The company had revenue of $39.97 million during the quarter, compared to the consensus estimate of $42.06 million. KVH Industries had a negative net margin of 6.16% and a negative return on equity of 4.30%. As a group, sell-side analysts predict that KVH Industries, Inc. will post -0.22 earnings per share for the current fiscal year.

KVHI has been the topic of several research reports. Raymond James set a $13.00 price target on KVH Industries and gave the company a “buy” rating in a research note on Tuesday, March 5th. ValuEngine lowered KVH Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. B. Riley initiated coverage on KVH Industries in a research note on Wednesday, March 6th. They set a “buy” rating and a $15.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price target (down previously from $14.00) on shares of KVH Industries in a research note on Friday, May 3rd. Finally, Zacks Investment Research raised KVH Industries from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Thursday, May 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $14.20.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its holdings in KVH Industries by 565.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,458 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 2,938 shares during the last quarter. Bank of America Corp DE increased its holdings in KVH Industries by 37.4% in the fourth quarter. Bank of America Corp DE now owns 14,693 shares of the communications equipment provider’s stock valued at $152,000 after purchasing an additional 3,999 shares during the last quarter. Pitcairn Co. increased its holdings in KVH Industries by 26.6% in the fourth quarter. Pitcairn Co. now owns 20,683 shares of the communications equipment provider’s stock valued at $213,000 after purchasing an additional 4,352 shares during the last quarter. Rhumbline Advisers increased its holdings in KVH Industries by 44.0% in the fourth quarter. Rhumbline Advisers now owns 22,987 shares of the communications equipment provider’s stock valued at $237,000 after purchasing an additional 7,022 shares during the last quarter. Finally, B. Riley Financial Inc. bought a new stake in KVH Industries in the first quarter valued at about $255,000. Institutional investors and hedge funds own 55.06% of the company’s stock.

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KVH Industries Company Profile

KVH Industries, Inc designs, develops, manufactures, and markets mobile connectivity products and services for the marine and land mobile markets in the United States and internationally. The company offers mobile satellite TV and communications products; two-way satellite communications systems; onboard V-IP terminals and hub equipment; network management hardware and software products for maritime communications; and Iridium OpenPort hardware products and services.

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