Voya Investment Management LLC Has $2.93 Million Stock Position in Knowles Corporation $KN

Key Points

• Voya Investment Management LLC reduced its stake in Knowles Corporation by 11.2%, selling 24,266 shares, leaving it with about 192,878 shares valued at $2.93 million.
• Other investors such as Royce & Associates LP and Allspring Global Investments have increased their holdings in Knowles, reflecting growing institutional interest in the company.
• An analyst report upgraded Knowles from a "buy" to a "strong-buy" rating, with a new price target of $22.00, indicating positive sentiment among analysts regarding the company's growth potential.

Voya Investment Management LLC cut its holdings in shares of Knowles Corporation (NYSE:KN - Free Report) by 11.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 192,878 shares of the communications equipment provider's stock after selling 24,266 shares during the quarter. Voya Investment Management LLC owned approximately 0.22% of Knowles worth $2,932,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in KN. Bank of America Corp DE grew its position in shares of Knowles by 17.9% in the 4th quarter. Bank of America Corp DE now owns 436,464 shares of the communications equipment provider's stock worth $8,699,000 after acquiring an additional 66,202 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Knowles by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,477 shares of the communications equipment provider's stock worth $986,000 after acquiring an additional 1,844 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Knowles by 44.3% in the 4th quarter. ProShare Advisors LLC now owns 26,237 shares of the communications equipment provider's stock worth $523,000 after acquiring an additional 8,061 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Knowles in the 4th quarter worth approximately $251,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Knowles by 11.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 222,730 shares of the communications equipment provider's stock worth $4,439,000 after acquiring an additional 22,315 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company's stock.

Analysts Set New Price Targets

KN has been the subject of several research reports. Wall Street Zen upgraded Knowles from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Craig Hallum boosted their price objective 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 currently has an average rating of "Moderate Buy" and an average price target of $21.00.

Insiders Place Their Bets

In other news, SVP Robert J. Perna sold 56,130 shares of the business's stock in a transaction 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 sale, the senior vice president directly owned 66,552 shares of the company's stock, valued at $1,362,319.44. The trade was a 45.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Air A. Jr. Bastarrica sold 10,000 shares of the business's 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 in the company, valued at $1,309,524.78. This trade represents 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 owned by insiders.

Knowles Price Performance

Shares of KN traded up $0.18 during midday trading on Tuesday, reaching $23.04. The stock had a trading volume of 300,545 shares, compared to its average volume of 712,030. The firm's 50 day moving average price is $20.59 and its 200-day moving average price is $17.79. The company has a market capitalization of $1.98 billion, a P/E ratio of 79.42 and a beta of 1.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.00 and a quick ratio of 1.29. Knowles Corporation has a 52 week low of $12.19 and a 52 week high of $23.29.

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).