Short Interest in KVH Industries, Inc. (NASDAQ:KVHI) Rises By 40.2%

KVH Industries, Inc. (NASDAQ:KVHI) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 96,600 shares, a growth of 40.2% from the September 15th total of 68,900 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average trading volume of 56,700 shares, the days-to-cover ratio is presently 1.7 days.

KVH Industries Price Performance

KVH Industries stock opened at $5.02 on Tuesday. The stock has a market cap of $98.97 million, a P/E ratio of -5.23 and a beta of 0.60. KVH Industries has a twelve month low of $4.17 and a twelve month high of $5.49. The company’s 50-day moving average price is $4.63 and its two-hundred day moving average price is $4.78.

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

Insiders Place Their Bets

In related news, major shareholder Bradley Louis Radoff bought 50,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $4.50 per share, with a total value of $227,250.00. Following the completion of the purchase, the insider now owns 2,060,000 shares in the company, valued at approximately $9,270,000. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other KVH Industries news, major shareholder Bradley Louis Radoff bought 50,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $4.50 per share, with a total value of $227,250.00. Following the purchase, the insider now owns 2,060,000 shares in the company, valued at $9,270,000. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen H. Deckoff acquired 50,200 shares of KVH Industries stock in a transaction dated Thursday, September 12th. The shares were purchased at an average cost of $4.47 per share, with a total value of $224,394.00. Following the completion of the transaction, the director now directly owns 3,357,398 shares of the company’s stock, valued at $15,007,569.06. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 369,961 shares of company stock worth $1,631,354 over the last three months. 5.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On KVH Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in KVHI. Cubist Systematic Strategies LLC acquired a new stake in KVH Industries during the 2nd quarter worth approximately $30,000. American Century Companies Inc. acquired a new stake in KVH Industries during the second quarter worth approximately $54,000. AQR Capital Management LLC bought a new stake in shares of KVH Industries in the 2nd quarter valued at $63,000. Marshall Wace LLP bought a new stake in KVH Industries in the second quarter valued at $75,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in KVH Industries during the 2nd quarter worth approximately $130,000. Institutional investors own 73.66% of the company’s stock.

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.