309,006 Shares in Knowles Corporation $KN Purchased by Advantage Alpha Capital Partners LP

Key Points

• Advantage Alpha Capital Partners LP has invested approximately $4.70 million in Knowles Corporation, acquiring 309,006 shares during the first quarter, representing a 0.36% ownership stake.
• Multiple institutional investors, including BI Asset Management and Wellington Management Group, have also increased their stakes in Knowles, with 96.35% of the stock owned by institutional shareholders.
• Brokerages have raised their price targets for Knowles, with Craig Hallum and Robert W. Baird increasing their price objectives to $22, reflecting a positive outlook on the company's stock.

Advantage Alpha Capital Partners LP purchased a new position in Knowles Corporation (NYSE:KN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 309,006 shares of the communications equipment provider's stock, valued at approximately $4,697,000. Advantage Alpha Capital Partners LP owned approximately 0.36% of Knowles at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Wellington Management Group LLP raised its position in Knowles by 3.7% in the 1st quarter. Wellington Management Group LLP now owns 2,592,223 shares of the communications equipment provider's stock worth $39,402,000 after buying an additional 92,792 shares during the last quarter. Royce & Associates LP increased its position in shares of Knowles by 31.5% during the 1st quarter. Royce & Associates LP now owns 1,611,679 shares of the communications equipment provider's stock valued at $24,498,000 after purchasing an additional 386,155 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Knowles during the 4th quarter valued at about $28,798,000. Allspring Global Investments Holdings LLC increased its position in shares of Knowles by 38.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,150,158 shares of the communications equipment provider's stock valued at $17,425,000 after purchasing an additional 320,587 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Knowles by 9.8% during the 4th quarter. Northern Trust Corp now owns 1,016,435 shares of the communications equipment provider's stock valued at $20,258,000 after acquiring an additional 90,953 shares during the period. Hedge funds and other institutional investors own 96.35% of the company's stock.

Knowles Stock Up 0.4%

Shares of Knowles stock traded up $0.10 during trading on Tuesday, hitting $21.45. 537,727 shares of the stock traded hands, compared to its average volume of 722,838. The firm has a market cap of $1.84 billion, a P/E ratio of 73.95 and a beta of 1.45. The company has a current ratio of 2.00, a quick ratio of 1.29 and a debt-to-equity ratio of 0.16. Knowles Corporation has a 52-week low of $12.19 and a 52-week high of $21.69. The stock's fifty day simple moving average is $18.98 and its 200 day simple moving average is $17.17.

Insider Buying and Selling at Knowles

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KN. Craig Hallum boosted their price objective on Knowles from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Wall Street Zen downgraded Knowles from a "strong-buy" rating to a "buy" rating in a research report on Friday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Knowles presently has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Knowles Profile

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).