Mackenzie Financial Corp Sells 17,270 Shares of Knowles Co. (NYSE:KN)

Mackenzie Financial Corp lessened its holdings in shares of Knowles Co. (NYSE:KN - Free Report) by 23.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,121 shares of the communications equipment provider's stock after selling 17,270 shares during the period. Mackenzie Financial Corp owned 0.06% of Knowles worth $1,099,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KN. Quadrant Capital Group LLC boosted its holdings in Knowles by 4.3% in the fourth quarter. Quadrant Capital Group LLC now owns 14,417 shares of the communications equipment provider's stock worth $287,000 after acquiring an additional 588 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Knowles by 46.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,095 shares of the communications equipment provider's stock worth $42,000 after purchasing an additional 669 shares in the last quarter. Blue Trust Inc. grew its position in Knowles by 72.4% during the 4th quarter. Blue Trust Inc. now owns 3,451 shares of the communications equipment provider's stock valued at $69,000 after purchasing an additional 1,449 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Knowles by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,477 shares of the communications equipment provider's stock valued at $986,000 after purchasing an additional 1,844 shares in the last quarter. Finally, KBC Group NV raised its holdings in Knowles by 66.6% in the fourth quarter. KBC Group NV now owns 4,869 shares of the communications equipment provider's stock worth $97,000 after buying an additional 1,947 shares during the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Knowles

In other Knowles news, SVP Raymond D. Cabrera sold 5,545 shares of Knowles stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $17.25, for a total transaction of $95,651.25. Following the transaction, the senior vice president now owns 111,286 shares of the company's stock, valued at $1,919,683.50. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.54% of the stock is owned by company insiders.

Knowles Stock Performance

Knowles stock traded up $0.02 during mid-day trading on Wednesday, reaching $16.65. 578,257 shares of the stock traded hands, compared to its average volume of 685,650. Knowles Co. has a 12-month low of $12.19 and a 12-month high of $20.86. The business's 50-day moving average is $15.59 and its 200-day moving average is $17.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.23. The stock has a market capitalization of $1.45 billion, a PE ratio of -6.28 and a beta of 1.40.

Knowles (NYSE:KN - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The communications equipment provider reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Knowles had a negative net margin of 34.66% and a positive return on equity of 5.52%. The firm had revenue of $132.20 million for the quarter, compared to analysts' expectations of $128.95 million. During the same quarter in the prior year, the business earned $0.18 EPS. The business's quarterly revenue was down .8% on a year-over-year basis.

Wall Street Analyst Weigh In

KN has been the subject of a number of recent analyst reports. Craig Hallum upgraded shares of Knowles from a "hold" rating to a "buy" rating and set a $17.00 price objective for the company in a report on Monday, April 7th. Robert W. Baird boosted their price target on Knowles from $18.00 to $22.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Finally, Wall Street Zen cut Knowles from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th.

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).