KVH Industries, Inc. (NASDAQ:KVHI) Short Interest Down 7.1% in August

KVH Industries, Inc. (NASDAQ:KVHI) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 51,100 shares, a decrease of 7.1% from the August 15th total of 55,000 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average trading volume of 106,000 shares, the days-to-cover ratio is presently 0.5 days.

Insider Activity

In related news, major shareholder Bradley Louis Radoff bought 30,088 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average price of $4.63 per share, for a total transaction of $139,307.44. Following the acquisition, the insider now owns 295,088 shares in the company, valued at $1,366,257.44. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders bought 319,761 shares of company stock worth $1,406,960. 5.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC purchased a new position in shares of KVH Industries in the 2nd quarter valued at approximately $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of KVH Industries in the second quarter worth $130,000. AQR Capital Management LLC purchased a new stake in shares of KVH Industries during the second quarter valued at $63,000. Marshall Wace LLP purchased a new stake in shares of KVH Industries during the second quarter valued at $75,000. Finally, Hsbc Holdings PLC increased its position in shares of KVH Industries by 19.7% in the 2nd quarter. Hsbc Holdings PLC now owns 30,733 shares of the communications equipment provider’s stock valued at $145,000 after acquiring an additional 5,054 shares during the period. 73.66% of the stock is owned by institutional investors and hedge funds.

KVH Industries Stock Down 1.7 %

KVHI stock opened at $4.59 on Wednesday. The firm has a market cap of $90.50 million, a price-to-earnings ratio of -4.78 and a beta of 0.60. KVH Industries has a twelve month low of $4.17 and a twelve month high of $5.69. The business’s fifty day simple moving average is $4.54 and its two-hundred day simple moving average is $4.78.

KVH Industries (NASDAQ:KVHI) last announced its quarterly earnings results on Thursday, August 1st. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. KVH Industries had a negative return on equity of 2.64% and a negative net margin of 17.88%. The business had revenue of $28.67 million for the quarter.

KVH Industries Company Profile

KVH Industries, Inc, together with its subsidiaries, engages in the design, development, manufacture, and marketing of mobile connectivity solutions for the marine and land mobile markets in the United States and internationally. The company offers Internet and VoIP airtime services; AgilePlans, a Connectivity as a Service solution; KVH Link, a crew wellbeing content subscription service with delivery by IP-Mobilecast; and OpenNet, a KVH VSAT data delivering service for non-KVH Ku-band VSAT terminals.