Counterpoint Mutual Funds LLC Buys Shares of 17,425 Knowles Corporation $KN

Key Points

• Counterpoint Mutual Funds LLC recently acquired 17,425 shares of Knowles Corporation, valued at approximately $307,000, marking a new investment in the communications equipment sector.
• Institutional ownership of Knowles Corporation is high, with 96.35% of the stock owned by institutional investors and hedge funds, indicating strong investor confidence.
• Knowles' stock was upgraded to a "strong-buy" rating by Wall Street Zen, with analysts providing an average price target of $21.00 for the stock.

Counterpoint Mutual Funds LLC bought a new stake in Knowles Corporation (NYSE:KN - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,425 shares of the communications equipment provider's stock, valued at approximately $307,000.

A number of other institutional investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its position in shares of Knowles by 4.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 13,105 shares of the communications equipment provider's stock valued at $201,000 after purchasing an additional 592 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Knowles by 4.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 17,110 shares of the communications equipment provider's stock valued at $260,000 after purchasing an additional 759 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Knowles by 4.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 22,453 shares of the communications equipment provider's stock valued at $396,000 after purchasing an additional 1,026 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Knowles by 47.0% in the 1st quarter. Meeder Asset Management Inc. now owns 3,703 shares of the communications equipment provider's stock valued at $56,000 after purchasing an additional 1,184 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Knowles by 9.6% in the 1st quarter. Hsbc Holdings PLC now owns 16,095 shares of the communications equipment provider's stock valued at $244,000 after purchasing an additional 1,415 shares in the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Knowles

In other Knowles news, VP Air A. Jr. Bastarrica sold 10,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $20.94, for a total value of $209,400.00. Following the sale, the vice president directly 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 filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert J. Perna sold 56,130 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $20.47, for a total value 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 $1,362,319.44. This represents 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 owned by company insiders.

Knowles Stock Performance

KN stock opened at $23.35 on Thursday. Knowles Corporation has a 12-month low of $12.19 and a 12-month high of $23.37. The company has a current ratio of 2.00, a quick ratio of 1.29 and a debt-to-equity ratio of 0.16. The stock's 50 day simple moving average is $20.82 and its 200 day simple moving average is $17.87. The firm has a market cap of $2.01 billion, a P/E ratio of 80.52 and a beta of 1.50.

Analysts Set New Price Targets

KN has been the topic of several research reports. Wall Street Zen raised Knowles from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Craig Hallum upped their price target on Knowles from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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).

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