15,270 Shares in Knowles Corporation $KN Acquired by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC acquired 15,270 shares of Knowles Corporation, valued at approximately $278,000, marking a new investment in the communications equipment provider.
• Institutional investors now own 96.35% of Knowles Corporation's stock, with other funds such as Harbor Capital Advisors and Central Pacific Bank also increasing their positions in the second quarter.
• Wall Street analysts have upgraded Knowles' stock rating from "buy" to a "strong-buy", with a consensus target price of $21.00 reflecting positive growth forecasts.

Wealth Enhancement Advisory Services LLC bought a new stake in shares of Knowles Corporation (NYSE:KN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,270 shares of the communications equipment provider's stock, valued at approximately $278,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. raised its holdings in shares of Knowles by 4.8% in the second quarter. Harbor Capital Advisors Inc. now owns 22,453 shares of the communications equipment provider's stock valued at $396,000 after acquiring an additional 1,026 shares in the last quarter. Central Pacific Bank Trust Division increased its position in Knowles by 9.3% during the 2nd quarter. Central Pacific Bank Trust Division now owns 23,763 shares of the communications equipment provider's stock valued at $419,000 after purchasing an additional 2,016 shares during the period. First Hawaiian Bank raised its holdings in shares of Knowles by 118.1% in the 1st quarter. First Hawaiian Bank now owns 34,007 shares of the communications equipment provider's stock valued at $517,000 after purchasing an additional 18,415 shares in the last quarter. Inspire Investing LLC lifted its position in shares of Knowles by 12.2% in the 1st quarter. Inspire Investing LLC now owns 22,560 shares of the communications equipment provider's stock worth $343,000 after purchasing an additional 2,445 shares during the period. Finally, Strs Ohio bought a new position in shares of Knowles during the first quarter valued at approximately $664,000. Institutional investors own 96.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KN. Wall Street Zen raised shares of Knowles from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Knowles in a research note on Wednesday. Finally, Craig Hallum boosted their target price on shares of Knowles from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $21.00.

Knowles Stock Down 0.8%

Shares of KN stock opened at $23.48 on Friday. Knowles Corporation has a fifty-two week low of $12.19 and a fifty-two week high of $24.53. The firm has a market capitalization of $2.02 billion, a PE ratio of 80.97 and a beta of 1.53. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.29 and a current ratio of 2.00. The stock's 50-day simple moving average is $21.77 and its 200-day simple moving average is $18.43.

Insider Activity at Knowles

In related news, VP Air A. Jr. Bastarrica sold 10,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $20.94, for a total transaction of $209,400.00. Following the completion of the transaction, the vice president owned 62,537 shares of the company's stock, valued at $1,309,524.78. This trade represents a 13.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Robert J. Perna sold 56,130 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $20.47, for a total transaction of $1,148,981.10. Following the completion of the sale, the senior vice president directly owned 66,552 shares in the company, valued at approximately $1,362,319.44. The trade was a 45.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.54% of the stock is currently owned by corporate insiders.

About Knowles

Knowles Corporation offers capacitors, radio frequency (RF) filtering products, balanced armature speakers, micro-acoustic microphones, and audio solutions in Asia, the United States, Europe, other Americas, and internationally. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).

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