Needham Investment Management buys $9,272,520 stake in KVH Industries (KVHI)

KVH Industries (KVHI) : Needham Investment Management scooped up 14,750 additional shares in KVH Industries during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,078,200 shares of KVH Industries which is valued at $9,272,520.KVH Industries makes up approximately 2.44% of Needham Investment Management’s portfolio.

Other Hedge Funds, Including , Two Sigma Advisers Lp reduced its stake in KVHI by selling 700 shares or 3.61% in the most recent quarter. The Hedge Fund company now holds 18,700 shares of KVHI which is valued at $160,820. Norges Bank sold out all of its stake in KVHI during the most recent quarter. The investment firm sold 9,717 shares of KVHI which is valued $83,566.Alliancebernstein boosted its stake in KVHI in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 10,900 shares of KVH Industries which is valued at $93,740.California State Teachers Retirement System reduced its stake in KVHI by selling 2,420 shares or 7.1% in the most recent quarter. The Hedge Fund company now holds 31,661 shares of KVHI which is valued at $285,899.

KVH Industries opened for trading at $8.41 and hit $8.95 on the upside on Thursday, eventually ending the session at $8.88, with a gain of 3.26% or 0.28 points. The heightened volatility saw the trading volume jump to 1,20,231 shares. Company has a market cap of $147 M.

On the company’s financial health, KVH Industries reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.06. The company had revenue of $46.00 million for the quarter, compared to analysts expectations of $44.52 million. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.

Many Wall Street Analysts have commented on KVH Industries. KVH Industries was Downgraded by Chardan Capital Markets to ” Neutral” on May 31, 2016.

KVH Industries Inc. is a manufacturer of solutions that provide high-speed Internet television and voice services through satellite to mobile users at sea and on land. The Company also provides commercially licensed entertainment including news sports music and movies to commercial and leisure customers in the maritime hotel and retail markets. The Company develops and distributes training films and e-Learning computer-based training courses to commercial maritime customers. It is also a manufacturer of navigational sensors and integrated inertial systems for defense and commercial guidance and stabilization applications. The Company designs develops manufactures and markets mobile communications products and services for the marine and land mobile markets and navigation guidance and stabilization products for both the defense and commercial markets.

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