Wall Street Zen Downgrades KVH Industries (NASDAQ:KVHI) to Hold

KVH Industries (NASDAQ:KVHI) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of KVH Industries in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

KVH Industries Trading Up 6.6%

Shares of NASDAQ:KVHI opened at $8.62 on Friday. The company has a market cap of $168.09 million, a price-to-earnings ratio of -33.15 and a beta of 0.43. The company has a 50-day moving average price of $9.66 and a 200 day moving average price of $7.85. KVH Industries has a 12 month low of $5.09 and a 12 month high of $13.00.

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

Insider Transactions at KVH Industries

In related news, major shareholder Bradley Louis Radoff sold 35,000 shares of KVH Industries stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $11.20, for a total transaction of $392,000.00. Following the completion of the sale, the insider owned 290,000 shares in the company, valued at $3,248,000. This trade represents a 10.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 39,092 shares of company stock worth $423,099. 21.40% of the stock is owned by insiders.

Institutional Investors Weigh In On KVH Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. bought a new stake in KVH Industries during the 4th quarter valued at about $54,000. HRT Financial LP bought a new stake in KVH Industries during the 4th quarter valued at about $70,000. OMERS ADMINISTRATION Corp bought a new stake in KVH Industries during the 4th quarter valued at about $86,000. Virtu Financial LLC bought a new stake in KVH Industries during the 4th quarter valued at about $102,000. Finally, NewEdge Advisors LLC bought a new stake in KVH Industries during the 3rd quarter valued at about $90,000. Institutional investors own 73.66% 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.