KVH Industries, Inc. $KVHI Shares Sold by Needham Investment Management LLC

Needham Investment Management LLC reduced its position in shares of KVH Industries, Inc. (NASDAQ:KVHI) by 23.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 390,000 shares of the communications equipment provider’s stock after selling 119,300 shares during the period. Needham Investment Management LLC’s holdings in KVH Industries were worth $2,718,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jane Street Group LLC lifted its holdings in KVH Industries by 134.0% in the 1st quarter. Jane Street Group LLC now owns 33,227 shares of the communications equipment provider’s stock valued at $176,000 after acquiring an additional 19,026 shares during the last quarter. Mink Brook Asset Management LLC raised its holdings in shares of KVH Industries by 84.5% in the 2nd quarter. Mink Brook Asset Management LLC now owns 153,683 shares of the communications equipment provider’s stock worth $819,000 after purchasing an additional 70,382 shares in the last quarter. Orion Porfolio Solutions LLC raised its holdings in shares of KVH Industries by 3.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 68,829 shares of the communications equipment provider’s stock worth $367,000 after purchasing an additional 2,222 shares in the last quarter. Peapod Lane Capital LLC lifted its stake in KVH Industries by 13.7% during the third quarter. Peapod Lane Capital LLC now owns 411,676 shares of the communications equipment provider’s stock valued at $2,305,000 after purchasing an additional 49,590 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in KVH Industries by 7.9% during the third quarter. First Eagle Investment Management LLC now owns 211,826 shares of the communications equipment provider’s stock worth $1,186,000 after buying an additional 15,482 shares in the last quarter. 73.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KVHI. Wall Street Zen cut KVH Industries from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of KVH Industries in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

KVH Industries Stock Up 2.6%

KVHI stock opened at $8.84 on Tuesday. KVH Industries, Inc. has a twelve month low of $5.09 and a twelve month high of $13.00. The company has a market cap of $172.38 million, a PE ratio of -34.00 and a beta of 0.43. The business’s 50-day simple moving average is $9.66 and its 200 day simple moving average is $7.88.

KVH Industries (NASDAQ:KVHI) last released its quarterly earnings data on Wednesday, May 6th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. The business had revenue of $32.32 million for the quarter, compared to analysts’ expectations of $30.56 million. KVH Industries had a negative return on equity of 0.80% and a negative net margin of 4.31%.

Insider Activity

In other news, major shareholder Bradley Louis Radoff sold 35,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $11.20, for a total value of $392,000.00. Following the completion of the transaction, the insider owned 290,000 shares in the company, valued at approximately $3,248,000. This represents a 10.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 39,092 shares of company stock valued at $423,099. Corporate insiders own 21.40% of the company’s stock.

About KVH Industries

KVH Industries, Inc develops and manufactures mobile connectivity, inertial navigation, and stabilization systems for maritime, land mobile and defense markets. Its Satellite Communications Group delivers a range of mobile VSAT and broadband systems under the TracPhone and TracNet brands, offering high-speed data, voice and TV programming for commercial and leisure vessels. The company pairs its hardware offerings with the OneCare global network and service platform, providing 24/7 support and coverage across major satellite constellations.

The Inertial Systems Group at KVH produces fiber-optic and hemispherical resonator gyros, inertial measurement units (IMUs) and related inertial navigation products for aerospace, unmanned platforms and precision stabilization applications.