AlphaQuest LLC Purchases Shares of 12,705 Knowles Corporation $KN

Key Points

• AlphaQuest LLC has purchased 12,705 shares of Knowles Corporation, valued at approximately $193,000, during the first quarter.
• Other large investors, including Bank of America Corp DE and Oppenheimer Asset Management Inc., have also increased their holdings in Knowles, indicating growing institutional interest.
• As of now, Knowles Corporation has a market cap of $1.83 billion and the stock has been rated as a "Moderate Buy" with an average price target of $21.00 by analysts.

AlphaQuest LLC purchased a new stake in Knowles Corporation (NYSE:KN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 12,705 shares of the communications equipment provider's stock, valued at approximately $193,000.

Other large investors have also recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in Knowles by 17.9% in the 4th quarter. Bank of America Corp DE now owns 436,464 shares of the communications equipment provider's stock valued at $8,699,000 after acquiring an additional 66,202 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in Knowles by 46.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 14,881 shares of the communications equipment provider's stock valued at $226,000 after acquiring an additional 4,699 shares during the period. Envestnet Asset Management Inc. raised its holdings in Knowles by 21.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 32,445 shares of the communications equipment provider's stock valued at $647,000 after acquiring an additional 5,825 shares during the period. Mariner LLC raised its holdings in Knowles by 20.2% in the 4th quarter. Mariner LLC now owns 17,704 shares of the communications equipment provider's stock valued at $353,000 after acquiring an additional 2,980 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Knowles by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 436,486 shares of the communications equipment provider's stock valued at $6,635,000 after acquiring an additional 9,418 shares during the period. 96.35% of the stock is owned by institutional investors.

Knowles Stock Performance

Shares of NYSE:KN opened at $21.33 on Friday. The company's 50 day moving average price is $19.34 and its two-hundred day moving average price is $17.27. Knowles Corporation has a 12-month low of $12.19 and a 12-month high of $21.74. The firm has a market cap of $1.83 billion, a PE ratio of 73.54 and a beta of 1.45. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.16.

Wall Street Analyst Weigh In

Several research analysts have weighed in on KN shares. Wall Street Zen cut shares of Knowles from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. Craig Hallum increased their target price on shares of Knowles from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Insider Activity at Knowles

In related news, SVP Robert J. Perna sold 56,130 shares of the stock in a transaction that occurred 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 sale, the senior vice president owned 66,552 shares in the company, valued at approximately $1,362,319.44. This trade represents a 45.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Air A. Jr. Bastarrica sold 10,000 shares of the stock in a transaction that occurred 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 sale, the vice president owned 62,537 shares in the company, valued at $1,309,524.78. This represents a 13.79% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.54% of the company's stock.

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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