Vident Advisory LLC Takes Position in Knowles Corporation $KN

Key Points

• Vident Advisory LLC has purchased a new stake in Knowles Corporation, acquiring 15,166 shares valued at approximately $231,000, marking a significant investment in the company during the first quarter.
• Institutional ownership of Knowles Corporation is high, with 96.35% of the stock held by institutional investors and hedge funds, indicating strong market confidence in the company.
• Knowles stock currently trades at $21.36, reflecting a 0.2% decline, while analysts suggest a Moderate Buy rating and an average price target of $21.00 for the shares.

Vident Advisory LLC acquired a new position in shares of Knowles Corporation (NYSE:KN - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 15,166 shares of the communications equipment provider's stock, valued at approximately $231,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Versant Capital Management Inc grew its holdings in Knowles by 725.6% in the first quarter. Versant Capital Management Inc now owns 1,643 shares of the communications equipment provider's stock worth $25,000 after purchasing an additional 1,444 shares during the last quarter. Meeder Asset Management Inc. boosted 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 worth $56,000 after purchasing an additional 1,184 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Knowles during the 1st quarter worth $106,000. Stifel Financial Corp acquired a new position in Knowles during the 4th quarter valued at about $209,000. Finally, Ethic Inc. purchased a new stake in Knowles in the fourth quarter valued at about $210,000. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on KN shares. Wall Street Zen lowered Knowles from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Craig Hallum lifted their target price on shares of Knowles from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.00.

Insider Transactions at Knowles

In related news, SVP Robert J. Perna sold 56,130 shares of Knowles stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $20.47, for a total transaction of $1,148,981.10. Following the completion of the transaction, the senior vice president directly owned 66,552 shares in the company, valued at approximately $1,362,319.44. This trade represents a 45.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Air A. Jr. Bastarrica sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $20.94, for a total value of $209,400.00. Following the completion of the transaction, the vice president directly owned 62,537 shares of the company's stock, valued at $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 corporate insiders.

Knowles Stock Performance

Shares of KN stock traded down $0.09 during mid-day trading on Friday, reaching $22.15. The stock had a trading volume of 675,615 shares, compared to its average volume of 492,729. The business's fifty day moving average is $20.07 and its 200-day moving average is $17.52. 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 firm has a market cap of $1.90 billion, a price-to-earnings ratio of 76.40 and a beta of 1.50. Knowles Corporation has a 1-year low of $12.19 and a 1-year high of $22.31.

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).