Knowles (NYSE:KN) Hits New 12-Month High - Here's Why

Key Points

• Knowles Corporation shares reached a new 52-week high of $22.08, marking a notable gain as the stock traded at $22.06 with a volume of 51,020 shares.
• Brokerage consensus rates Knowles stock as a Moderate Buy with a price target of $21.00, despite a downgrade from a "strong-buy" to a "buy" from Wall Street Zen.
• Insider selling has been reported with VP Air A. Jr. Bastarrica and SVP Robert J. Perna selling significant quantities of stock, indicating a 13.79% and 45.75% decrease in their respective ownership stakes.

Shares of Knowles Corporation (NYSE:KN - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $22.08 and last traded at $22.06, with a volume of 51020 shares. The stock had previously closed at $21.53.

Analyst Ratings Changes

A number of brokerages have commented on KN. Wall Street Zen cut shares of Knowles from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Craig Hallum raised their price target 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 analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

Knowles Stock Up 2.2%

The business's 50 day moving average price is $19.91 and its 200-day moving average price is $17.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.00 and a quick ratio of 1.29. The company has a market cap of $1.89 billion, a P/E ratio of 75.83 and a beta of 1.50.

Insider Buying and Selling

In related news, VP Air A. Jr. Bastarrica sold 10,000 shares of the firm'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 sale, the vice president owned 62,537 shares of the company's stock, valued at $1,309,524.78. This trade represents a 13.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Robert J. Perna sold 56,130 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 66,552 shares of the company's stock, valued at approximately $1,362,319.44. This represents a 45.75% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.54% of the company's stock.

Hedge Funds Weigh In On Knowles

Several institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in Knowles by 725.6% in the 1st quarter. Versant Capital Management Inc now owns 1,643 shares of the communications equipment provider's stock valued at $25,000 after acquiring an additional 1,444 shares in the last quarter. Osaic Holdings Inc. increased its stake in shares of Knowles by 94.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,842 shares of the communications equipment provider's stock worth $31,000 after purchasing an additional 895 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of 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 purchasing an additional 1,184 shares during the last quarter. GAMMA Investing LLC grew its stake in Knowles by 118.8% in the 2nd quarter. GAMMA Investing LLC now owns 6,482 shares of the communications equipment provider's stock valued at $114,000 after buying an additional 3,520 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Knowles during the 1st quarter worth approximately $106,000. Institutional investors and hedge funds own 96.35% of the company's stock.

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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