Short Interest in KVH Industries, Inc. (NASDAQ:KVHI) Drops By 7.1%

KVH Industries, Inc. (NASDAQ:KVHI) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 51,100 shares, a decline of 7.1% from the August 15th total of 55,000 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 106,000 shares, the short-interest ratio is currently 0.5 days.

Insider Activity at KVH Industries

In related news, major shareholder Bradley Louis Radoff bought 50,500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $4.50 per share, with a total value of $227,250.00. Following the transaction, the insider now owns 2,060,000 shares in the company, valued at approximately $9,270,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 319,761 shares of company stock worth $1,406,960 over the last quarter. Company insiders own 5.30% of the company’s stock.

Institutional Trading of KVH Industries

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of KVH Industries by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 962,968 shares of the communications equipment provider’s stock valued at $4,911,000 after buying an additional 6,382 shares in the last quarter. Palogic Value Management L.P. lifted its holdings in KVH Industries by 77.0% during the fourth quarter. Palogic Value Management L.P. now owns 268,724 shares of the communications equipment provider’s stock valued at $1,413,000 after purchasing an additional 116,895 shares in the last quarter. Acuitas Investments LLC boosted its position in shares of KVH Industries by 19.1% in the second quarter. Acuitas Investments LLC now owns 266,055 shares of the communications equipment provider’s stock worth $1,237,000 after purchasing an additional 42,613 shares during the period. AMH Equity Ltd raised its position in shares of KVH Industries by 187.2% during the 1st quarter. AMH Equity Ltd now owns 250,000 shares of the communications equipment provider’s stock valued at $1,275,000 after purchasing an additional 162,949 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of KVH Industries by 38.8% during the 2nd quarter. Renaissance Technologies LLC now owns 177,400 shares of the communications equipment provider’s stock valued at $825,000 after buying an additional 49,600 shares in the last quarter. Institutional investors own 73.66% of the company’s stock.

KVH Industries Stock Down 1.7 %

NASDAQ KVHI opened at $4.59 on Wednesday. The firm has a market capitalization of $90.50 million, a P/E ratio of -4.78 and a beta of 0.60. The company has a 50-day moving average price of $4.54 and a 200-day moving average price of $4.78. KVH Industries has a 52 week low of $4.17 and a 52 week high of $5.69.

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

About KVH Industries

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.