KVH Industries (NASDAQ:KVHI) Releases Earnings Results, Hits Estimates

KVH Industries (NASDAQ:KVHI) announced its earnings results on Tuesday. The communications equipment provider reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02, FiscalAI reports. KVH Industries had a negative return on equity of 5.32% and a negative net margin of 11.19%.The business had revenue of $30.52 million during the quarter, compared to analysts’ expectations of $29.34 million.

KVH Industries Price Performance

Shares of NASDAQ:KVHI opened at $6.07 on Tuesday. The stock has a market capitalization of $118.79 million, a P/E ratio of -9.79 and a beta of 0.72. KVH Industries has a fifty-two week low of $4.69 and a fifty-two week high of $7.71. The business has a 50-day moving average of $6.63 and a two-hundred day moving average of $6.20.

Insider Buying and Selling

In other news, major shareholder Bradley Louis Radoff bought 30,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were bought at an average cost of $6.26 per share, for a total transaction of $187,800.00. Following the acquisition, the insider directly owned 2,180,000 shares of the company’s stock, valued at $13,646,800. This trade represents a 1.40% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 21.10% of the company’s stock.

Institutional Investors Weigh In On KVH Industries

A number of institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in KVH Industries during the fourth quarter worth $308,000. Renaissance Technologies LLC increased its holdings in KVH Industries by 6.9% during the 4th quarter. Renaissance Technologies LLC now owns 283,108 shares of the communications equipment provider’s stock valued at $1,973,000 after purchasing an additional 18,193 shares in the last quarter. Geode Capital Management LLC raised its stake in KVH Industries by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 160,108 shares of the communications equipment provider’s stock valued at $1,116,000 after buying an additional 7,474 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in shares of KVH Industries by 126.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 145,284 shares of the communications equipment provider’s stock worth $1,013,000 after buying an additional 81,252 shares in the last quarter. Finally, Mink Brook Asset Management LLC boosted 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. 73.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wall Street Zen upgraded KVH Industries to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings restated a “sell (e+)” rating on shares of KVH Industries in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

KVH Industries Company Profile

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.