Knowles Co. (NYSE:KN) Sees Large Decline in Short Interest

Knowles Co. (NYSE:KN) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 1,190,000 shares, a decrease of 9.8% from the June 15th total of 1,320,000 shares. Based on an average daily trading volume, of 573,900 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.4% of the shares of the company are short sold.

Insiders Place Their Bets

In other news, Director Keith Barnes sold 5,186 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $17.45, for a total transaction of $90,495.70. Following the transaction, the director now directly owns 92,917 shares in the company, valued at $1,621,401.65. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.65% of the stock is owned by insiders.

Institutional Trading of Knowles

Several large investors have recently bought and sold shares of KN. GAMMA Investing LLC purchased a new position in shares of Knowles during the 4th quarter worth approximately $25,000. Lindbrook Capital LLC increased its position in Knowles by 202.6% during the fourth quarter. Lindbrook Capital LLC now owns 1,613 shares of the communications equipment provider’s stock worth $29,000 after buying an additional 1,080 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Knowles by 217.0% in the fourth quarter. Parallel Advisors LLC now owns 2,311 shares of the communications equipment provider’s stock worth $41,000 after acquiring an additional 1,582 shares during the last quarter. CWM LLC lifted its position in shares of Knowles by 38.0% in the second quarter. CWM LLC now owns 3,036 shares of the communications equipment provider’s stock valued at $52,000 after acquiring an additional 836 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Knowles by 33.0% during the fourth quarter. Signaturefd LLC now owns 4,938 shares of the communications equipment provider’s stock valued at $88,000 after acquiring an additional 1,224 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Susquehanna increased their price objective on Knowles from $15.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday.

Knowles Price Performance

KN stock traded down $0.05 during trading on Wednesday, reaching $19.39. 525,890 shares of the company were exchanged, compared to its average volume of 545,823. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.55 and a current ratio of 2.75. The stock’s 50 day moving average price is $17.48 and its 200 day moving average price is $16.71. Knowles has a 52-week low of $12.78 and a 52-week high of $19.73. The company has a market cap of $1.74 billion, a P/E ratio of 22.11 and a beta of 1.42.

Knowles (NYSE:KN) last announced its quarterly earnings results on Wednesday, May 1st. The communications equipment provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.06). The firm had revenue of $196.40 million for the quarter. Knowles had a return on equity of 5.98% and a net margin of 10.54%.

Knowles Company Profile

Knowles Corporation offers capacitors, radio frequency (RF) filtering products, balanced armature speakers, micro-acoustic microphones, and audio solutions in Asia, the United States, Europe, other Americas, and internationally. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).