NorthCrest Asset Manangement LLC Has $200,000 Position in Knowles Corporation $KN

Key Points

• NorthCrest Asset Management LLC significantly reduced its holdings in Knowles Corporation by 50.4% in the second quarter, selling over 11,000 shares and now owning approximately 10,973 shares worth $200,000.
• Multiple hedge funds increased their stakes in Knowles, with Bank of America growing its ownership by 17.9% and ProShare Advisors raising theirs by 44.3% during the 4th quarter.
• Analysts have generally upgraded Knowles' stock outlook, with a consensus rating of "Moderate Buy" and a target price of $21.00, reflecting positive sentiment about its performance.

NorthCrest Asset Manangement LLC cut its position in Knowles Corporation (NYSE:KN - Free Report) by 50.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,973 shares of the communications equipment provider's stock after selling 11,160 shares during the period. NorthCrest Asset Manangement LLC's holdings in Knowles were worth $200,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of KN. Versant Capital Management Inc increased its holdings in Knowles by 725.6% during the 1st quarter. Versant Capital Management Inc now owns 1,643 shares of the communications equipment provider's stock valued at $25,000 after purchasing an additional 1,444 shares in the last quarter. Meeder Asset Management Inc. lifted its position in Knowles by 47.0% during the 1st quarter. Meeder Asset Management Inc. now owns 3,703 shares of the communications equipment provider's stock worth $56,000 after buying an additional 1,184 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Knowles during the 1st quarter worth about $106,000. AlphaQuest LLC acquired a new stake in Knowles in the 1st quarter valued at about $193,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Knowles by 4.7% in the first quarter. Smartleaf Asset Management LLC now owns 13,105 shares of the communications equipment provider's stock worth $201,000 after acquiring an additional 592 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company's stock.

Knowles Stock Up 1.2%

Shares of KN traded up $0.27 on Monday, hitting $22.86. The company's stock had a trading volume of 836,169 shares, compared to its average volume of 590,341. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 78.81 and a beta of 1.50. The firm's fifty day moving average price is $20.59 and its 200-day moving average price is $17.79. Knowles Corporation has a fifty-two week low of $12.19 and a fifty-two week high of $23.03.

Insider Transactions at Knowles

In related news, SVP Robert J. Perna sold 56,130 shares of the business'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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Air A. Jr. Bastarrica sold 10,000 shares of the company's stock in a transaction dated 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 sale, the vice president directly owned 62,537 shares in the company, valued at approximately $1,309,524.78. The trade was a 13.79% 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 company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Knowles from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Craig Hallum lifted their target price on Knowles from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $21.00.

Knowles Company 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).