Kornitzer Capital Management Inc. KS decreased its stake in shares of Kornit Digital Ltd (NASDAQ:KRNT) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 548,715 shares of the industrial products company’s stock after selling 11,740 shares during the period. Kornitzer Capital Management Inc. KS owned about 1.36% of Kornit Digital worth $16,889,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in KRNT. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Kornit Digital by 29.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,272 shares of the industrial products company’s stock worth $70,000 after acquiring an additional 520 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Kornit Digital by 42.7% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,351 shares of the industrial products company’s stock worth $74,000 after acquiring an additional 703 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in Kornit Digital during the second quarter worth $103,000. WINTON GROUP Ltd bought a new stake in Kornit Digital during the second quarter worth $207,000. Finally, LPL Financial LLC bought a new stake in Kornit Digital during the second quarter worth $238,000. 96.27% of the stock is currently owned by institutional investors.
Shares of KRNT traded down $0.23 during mid-day trading on Friday, hitting $34.35. The stock had a trading volume of 3,387 shares, compared to its average volume of 158,699. The firm has a market cap of $1.39 billion, a P/E ratio of 143.38 and a beta of 1.11. The business has a fifty day moving average price of $32.44 and a 200-day moving average price of $29.66. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.23 and a quick ratio of 6.35. Kornit Digital Ltd has a 52 week low of $16.10 and a 52 week high of $35.73.
Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.01). Kornit Digital had a net margin of 5.69% and a return on equity of 3.04%. The firm had revenue of $43.89 million during the quarter, compared to the consensus estimate of $45.91 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. As a group, research analysts expect that Kornit Digital Ltd will post 0.3 earnings per share for the current fiscal year.
KRNT has been the topic of a number of recent analyst reports. BidaskClub upgraded Kornit Digital from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 27th. ValuEngine lowered Kornit Digital from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Stifel Nicolaus set a $35.00 price target on Kornit Digital and gave the stock a “buy” rating in a report on Wednesday, August 7th. TheStreet upgraded Kornit Digital from a “c+” rating to a “b” rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research upgraded Kornit Digital from a “strong sell” rating to a “hold” rating in a report on Saturday, August 24th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $29.00.
Kornit Digital Company Profile
Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.
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