Migdal Insurance & Financial Holdings Ltd. Boosts Stock Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 103.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 953,682 shares of the industrial products company’s stock after acquiring an additional 485,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Kornit Digital were worth $18,273,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Phoenix Holdings Ltd. boosted its stake in Kornit Digital by 233.4% during the 3rd quarter. Phoenix Holdings Ltd. now owns 178,825 shares of the industrial products company’s stock worth $3,381,000 after acquiring an additional 125,196 shares during the last quarter. Schroder Investment Management Group boosted its stake in Kornit Digital by 106.3% during the 3rd quarter. Schroder Investment Management Group now owns 735,688 shares of the industrial products company’s stock worth $13,912,000 after acquiring an additional 379,140 shares during the last quarter. Chicago Capital LLC lifted its stake in Kornit Digital by 14.6% in the third quarter. Chicago Capital LLC now owns 1,660,074 shares of the industrial products company’s stock valued at $31,392,000 after buying an additional 212,102 shares in the last quarter. Y.D. More Investments Ltd bought a new stake in shares of Kornit Digital in the third quarter worth $2,816,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Kornit Digital in the third quarter worth $9,035,000. 92.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th.

Kornit Digital Stock Performance

Shares of KRNT stock traded down $0.11 during trading hours on Wednesday, hitting $15.74. 97,174 shares of the company were exchanged, compared to its average volume of 513,121. The firm has a market cap of $751.43 million, a P/E ratio of -12.03 and a beta of 1.89. Kornit Digital Ltd. has a fifty-two week low of $13.29 and a fifty-two week high of $31.94. The company has a 50 day simple moving average of $17.78 and a two-hundred day simple moving average of $17.43.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings data on Wednesday, February 14th. The industrial products company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.08. Kornit Digital had a negative return on equity of 5.05% and a negative net margin of 29.28%. The business had revenue of $56.59 million for the quarter, compared to analysts’ expectations of $57.35 million. As a group, sell-side analysts expect that Kornit Digital Ltd. will post -0.28 EPS for the current fiscal year.

About Kornit Digital

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company's solutions include digital printing systems, ink and other consumables, associated software, and value-added services.