American Capital Management Inc. Buys New Holdings in Kornit Digital Ltd. $KRNT

Key Points

• American Capital Management acquired 282,976 Kornit Digital shares worth approximately $4.6 million, representing a 0.66% stake. Institutional investors collectively own 92.76% of the company.
• Kornit Digital reported quarterly revenue of $55.32 million and EPS of $0.04, beating analyst estimates; revenue increased 11.1% year over year despite the company posting a negative net margin.
• The stock was trading at $16.93, while analysts maintained a consensus “Hold” rating with an average price target of $21.50. Price targets ranged from $19 at Morgan Stanley to $23 at Needham.

American Capital Management Inc. acquired a new stake in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 282,976 shares of the industrial products company's stock, valued at approximately $4,598,000. American Capital Management Inc. owned 0.66% of Kornit Digital as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Kornit Digital by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 117,800 shares of the industrial products company's stock valued at $2,248,000 after purchasing an additional 2,105 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Kornit Digital by 277.4% in the first quarter. Jane Street Group LLC now owns 32,979 shares of the industrial products company's stock valued at $629,000 after buying an additional 24,241 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Kornit Digital by 9.7% in the second quarter. Legal & General Group Plc now owns 51,246 shares of the industrial products company's stock valued at $1,020,000 after buying an additional 4,534 shares in the last quarter. Nebula Research & Development LLC grew its holdings in shares of Kornit Digital by 68.9% during the second quarter. Nebula Research & Development LLC now owns 25,390 shares of the industrial products company's stock valued at $506,000 after buying an additional 10,357 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Kornit Digital by 0.8% during the second quarter. Sei Investments Co. now owns 271,305 shares of the industrial products company's stock valued at $5,402,000 after buying an additional 2,195 shares during the last quarter. Institutional investors own 92.76% of the company's stock.

Kornit Digital Trading Up 1.1%

Shares of KRNT opened at $16.93 on Thursday. The company has a market capitalization of $727.48 million, a price-to-earnings ratio of -35.27 and a beta of 1.72. The stock has a 50 day moving average of $16.15 and a 200 day moving average of $15.68. Kornit Digital Ltd. has a 12 month low of $11.93 and a 12 month high of $19.78.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its earnings results on Wednesday, August 12th. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.05. The firm had revenue of $55.32 million during the quarter, compared to analyst estimates of $52.80 million. Kornit Digital had a negative return on equity of 1.00% and a negative net margin of 9.42%.The business's revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $0.03 EPS. As a group, equities research analysts predict that Kornit Digital Ltd. will post -0.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KRNT. Morgan Stanley upped their target price on shares of Kornit Digital from $18.00 to $19.00 and gave the stock an "equal weight" rating in a report on Thursday, August 13th. Needham & Company LLC boosted their price objective on Kornit Digital from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Zacks Research raised Kornit Digital from a "strong sell" rating to a "hold" rating in a research note on Monday. Finally, Weiss Ratings lowered Kornit Digital from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $21.50.

Kornit Digital Profile

Kornit Digital Ltd. NASDAQ: KRNT is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha'Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.

The company's flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.

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