Insider Selling: Knowles Corporation (NYSE:KN) VP Sells 10,000 Shares of Stock

Key Points

• Knowles Corporation VP Air A. Jr. Bastarrica sold 10,000 shares at an average price of $20.94, totaling $209,400, which represents a 13.79% decrease in their holdings.
• The stock traded down to $20.27 on Thursday, with a market capitalization of $1.76 billion and a P/E ratio of 69.90.
• Brokerages have responded positively, with Craig Hallum and Robert W. Baird both raising their target price on Knowles to $22.00 and upgrading the stock's ratings.

Knowles Corporation (NYSE:KN - Get Free Report) VP Air A. Jr. Bastarrica sold 10,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $20.94, for a total value of $209,400.00. Following the sale, the vice president owned 62,537 shares in the company, valued at approximately $1,309,524.78. The trade was a 13.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Knowles Stock Performance

KN traded down $0.36 during trading on Thursday, hitting $20.27. 869,767 shares of the stock were exchanged, compared to its average volume of 743,271. The stock has a fifty day moving average price of $17.71 and a two-hundred day moving average price of $17.09. Knowles Corporation has a 1-year low of $12.19 and a 1-year high of $21.37. The firm has a market capitalization of $1.76 billion, a P/E ratio of 69.90 and a beta of 1.41. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.16.

Institutional Trading of Knowles

Institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in Knowles by 725.6% during the first quarter. Versant Capital Management Inc now owns 1,643 shares of the communications equipment provider's stock worth $25,000 after buying an additional 1,444 shares during the period. Sterling Capital Management LLC grew its stake in shares of Knowles by 835.5% in the fourth quarter. Sterling Capital Management LLC now owns 2,741 shares of the communications equipment provider's stock valued at $55,000 after buying an additional 2,448 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of Knowles by 47.0% in the first quarter. Meeder Asset Management Inc. now owns 3,703 shares of the communications equipment provider's stock valued at $56,000 after buying an additional 1,184 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Knowles in the first quarter valued at about $106,000. Finally, GAMMA Investing LLC grew its stake in Knowles by 118.8% during the 2nd quarter. GAMMA Investing LLC now owns 6,482 shares of the communications equipment provider's stock valued at $114,000 after purchasing an additional 3,520 shares in the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on KN. Craig Hallum upped their target price on Knowles from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wall Street Zen upgraded Knowles from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Finally, Robert W. Baird upped their price target on Knowles from $18.00 to $22.00 and gave the company an "outperform" rating in a research report on Friday, April 25th.

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).

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