Private Harbour Investment Management & Counsel LLC Reduces Position in Knowles Corporation (KN)
Private Harbour Investment Management & Counsel LLC lowered its position in shares of Knowles Corporation (NYSE:KN) by 2.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 97,489 shares of the communications equipment provider’s stock after selling 2,550 shares during the period. Knowles Corporation makes up 1.4% of Private Harbour Investment Management & Counsel LLC’s investment portfolio, making the stock its 29th largest position. Private Harbour Investment Management & Counsel LLC owned about 0.11% of Knowles Corporation worth $1,650,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Prudential Financial Inc. boosted its stake in shares of Knowles Corporation by 2.4% in the second quarter. Prudential Financial Inc. now owns 59,238 shares of the communications equipment provider’s stock worth $1,002,000 after buying an additional 1,400 shares during the last quarter. Royce & Associates LP raised its position in Knowles Corporation by 39.8% in the second quarter. Royce & Associates LP now owns 942,950 shares of the communications equipment provider’s stock worth $15,955,000 after buying an additional 268,273 shares during the period. Federated Investors Inc. PA raised its position in Knowles Corporation by 13.8% in the second quarter. Federated Investors Inc. PA now owns 47,625 shares of the communications equipment provider’s stock worth $806,000 after buying an additional 5,781 shares during the period. Knowledge Leaders Capital LLC raised its position in Knowles Corporation by 0.8% in the second quarter. Knowledge Leaders Capital LLC now owns 264,968 shares of the communications equipment provider’s stock worth $4,483,000 after buying an additional 2,212 shares during the period. Finally, Marshall Wace North America L.P. raised its position in Knowles Corporation by 120.8% in the second quarter. Marshall Wace North America L.P. now owns 233,972 shares of the communications equipment provider’s stock worth $3,977,000 after buying an additional 127,987 shares during the period.
Shares of Knowles Corporation (NYSE:KN) traded up 0.89% during mid-day trading on Friday, reaching $14.73. The company’s stock had a trading volume of 882,267 shares. Knowles Corporation has a one year low of $13.32 and a one year high of $19.90. The stock has a 50 day moving average of $15.49 and a 200-day moving average of $17.55. The stock’s market cap is $1.32 billion.
Knowles Corporation (NYSE:KN) last released its earnings results on Wednesday, July 26th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The company had revenue of $190.20 million during the quarter, compared to the consensus estimate of $190.24 million. Knowles Corporation had a negative net margin of 2.44% and a positive return on equity of 6.98%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 EPS. On average, equities research analysts expect that Knowles Corporation will post $0.95 EPS for the current fiscal year.
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A number of equities analysts have recently weighed in on KN shares. Zacks Investment Research lowered Knowles Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. BidaskClub lowered Knowles Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Finally, Dougherty & Co initiated coverage on Knowles Corporation in a research note on Thursday, June 8th. They set a “buy” rating and a $22.00 price target for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Knowles Corporation currently has a consensus rating of “Hold” and a consensus price target of $18.33.
In related news, insider Michael S. Polacek bought 3,246 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was bought at an average price of $15.40 per share, with a total value of $49,988.40. Following the transaction, the insider now owns 42,866 shares of the company’s stock, valued at $660,136.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 2.20% of the stock is currently owned by insiders.
Knowles Corporation Company Profile
Knowles Corporation is a global supplier of micro-acoustic, audio processing and specialty component solutions, serving the mobile consumer electronics, communications, medical, military, aerospace and industrial markets. The Company operates through two segments: Mobile Consumer Electronics (MCE) and Specialty Components (SC).
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