Voxx International Corp. (VOXX) Sees Large Volume Increase Following Insider Buying Activity
Shares of Voxx International Corp. (NASDAQ:VOXX) saw an uptick in trading volume on Wednesday following insider buying activity. 143,208 shares traded hands during mid-day trading, an increase of 52% from the previous session’s volume of 94,246 shares.The stock last traded at $2.76 and had previously closed at $2.69.
Specifically, Director Ari Shalam bought 13,333 shares of the stock in a transaction that occurred on Tuesday, October 4th. The stock was purchased at an average price of $2.99 per share, for a total transaction of $39,865.67. Following the completion of the purchase, the director now owns 7,734 shares in the company, valued at approximately $23,124.66. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Denise W. Gibson bought 32,100 shares of the stock in a transaction that occurred on Friday, September 16th. The shares were purchased at an average price of $3.13 per share, with a total value of $100,473.00. Following the purchase, the director now owns 20,400 shares of the company’s stock, valued at approximately $63,852. The disclosure for this purchase can be found here. Corporate insiders own 17.51% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of Voxx International Corp. from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a research note on Wednesday, July 20th.
The company’s market capitalization is $64.02 million. The stock’s 50-day moving average is $3.03 and its 200-day moving average is $3.37.
Voxx International Corp. (NASDAQ:VOXX) last issued its earnings results on Monday, July 11th. The company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.08. Voxx International Corp. had a negative net margin of 0.93% and a positive return on equity of 0.78%. The business earned $155.50 million during the quarter. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Analysts forecast that Voxx International Corp. will post $0.26 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. Springbok Capital Management LLC increased its position in shares of Voxx International Corp. by 12.3% in the first quarter. Springbok Capital Management LLC now owns 27,390 shares of the company’s stock worth $122,000 after buying an additional 2,990 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Voxx International Corp. by 28.4% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 47,500 shares of the company’s stock worth $133,000 after buying an additional 10,500 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Voxx International Corp. by 95.7% in the second quarter. Oppenheimer & Co. Inc. now owns 54,800 shares of the company’s stock worth $153,000 after buying an additional 26,800 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of Voxx International Corp. during the second quarter worth approximately $243,000. Finally, Renaissance Technologies LLC increased its position in shares of Voxx International Corp. by 307.5% in the first quarter. Renaissance Technologies LLC now owns 59,900 shares of the company’s stock worth $268,000 after buying an additional 45,200 shares in the last quarter. 60.50% of the stock is currently owned by institutional investors and hedge funds.
Voxx International Corp. Company Profile
VOXX International Corporation is an international manufacturer and distributor in the automotive, audio and consumer accessories industries. The Company’s segments include Automotive, Premium Audio and Consumer Accessories. The Automotive segment designs, manufactures, distributes and markets rear-seat entertainment devices, satellite radio products, remote start systems, digital television tuners, mobile antennas, mobile multimedia devices, car link-smartphone telematics application, collision avoidance systems and others.
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