KVH Industries, Inc. (NASDAQ:KVHI) issued its earnings results on Thursday. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.12 by $0.04. KVH Industries had a return on equity of 7.10% and a net margin of 1.81%. The company earned $43.90 million during the quarter, compared to the consensus estimate of $42.81 million. During the same quarter in the prior year, the business earned $0.43 EPS. The firm’s revenue for the quarter was down 18.7% compared to the same quarter last year. KVH Industries updated its Q1 guidance to ($0.13)-($0.10) EPS and its FY17 guidance to $0.07-0.27 EPS.
Shares of KVH Industries (NASDAQ:KVHI) traded down 0.62% on Friday, reaching $8.00. The company’s stock had a trading volume of 60,569 shares. The company’s market capitalization is $135.22 million. KVH Industries has a 12-month low of $7.31 and a 12-month high of $12.75. The company’s 50-day moving average is $9.26 and its 200 day moving average is $9.73.
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Several research analysts have commented on KVHI shares. Zacks Investment Research downgraded KVH Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 4th. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of KVH Industries in a research note on Friday, March 3rd. TheStreet downgraded KVH Industries from a “c” rating to a “d+” rating in a research note on Thursday, March 2nd. Finally, Raymond James Financial, Inc. downgraded KVH Industries from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $11.00 to $9.00 in a research note on Tuesday, March 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $10.06.
In other news, CEO Van Heyningen Martin Kits sold 29,694 shares of the business’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $10.00, for a total value of $296,940.00. Following the completion of the transaction, the chief executive officer now owns 619,770 shares in the company, valued at $6,197,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Van Heyningen Robert Wb Kits sold 6,708 shares of the business’s stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $11.01, for a total value of $73,855.08. Following the completion of the transaction, the vice president now owns 210,485 shares of the company’s stock, valued at approximately $2,317,439.85. The disclosure for this sale can be found here. Insiders sold 114,064 shares of company stock valued at $1,158,757 in the last 90 days. Company insiders own 11.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Systematic Financial Management LP raised its stake in shares of KVH Industries by 6.8% in the fourth quarter. Systematic Financial Management LP now owns 1,254,601 shares of the company’s stock worth $14,804,000 after buying an additional 80,314 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of KVH Industries by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,059,166 shares of the company’s stock worth $12,498,000 after buying an additional 51,212 shares in the last quarter. GMT Capital Corp raised its stake in shares of KVH Industries by 4.7% in the third quarter. GMT Capital Corp now owns 921,907 shares of the company’s stock worth $8,122,000 after buying an additional 41,600 shares in the last quarter. Harber Asset Management LLC raised its stake in shares of KVH Industries by 7.1% in the third quarter. Harber Asset Management LLC now owns 482,201 shares of the company’s stock worth $4,248,000 after buying an additional 31,868 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of KVH Industries by 41.7% in the fourth quarter. Renaissance Technologies LLC now owns 343,100 shares of the company’s stock worth $4,049,000 after buying an additional 100,900 shares in the last quarter. Hedge funds and other institutional investors own 65.08% of the company’s stock.
About KVH Industries
KVH Industries, Inc is a manufacturer of solutions that provide high-speed Internet, television and voice services through satellite to mobile users at sea and on land. The Company also provides commercially licensed entertainment, including news, sports, music and movies, to commercial and leisure customers in the maritime, hotel and retail markets.
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