KVH Industries, Inc. (NASDAQ:KVHI) Short Interest Update

Key Points

• Short interest rose 19.1% in March to 40,402 shares (about 0.3% of shares short) with a days-to-cover ratio of 0.6, indicating a modest short position relative to trading volume.
• Insider buying: Major shareholder Bradley Louis Radoff acquired 30,000 shares at $6.26 on Feb. 12, bringing his stake to 2,180,000 shares, and corporate insiders collectively own 21.10% of the stock.
• Institutional ownership is high (73.66%) with several funds adding or initiating positions recently, yet analysts maintain a consensus "Sell" rating after recent downgrades.

KVH Industries, Inc. (NASDAQ:KVHI - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 13th, there was short interest totaling 40,402 shares, an increase of 19.1% from the February 26th total of 33,915 shares. Based on an average daily trading volume, of 72,277 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.3% of the shares of the stock are short sold.

KVH Industries Stock Performance

KVHI stock traded up $0.03 during midday trading on Tuesday, hitting $8.96. 102,684 shares of the stock were exchanged, compared to its average volume of 137,212. The stock's 50-day moving average price is $6.91 and its 200-day moving average price is $6.46. The stock has a market cap of $174.54 million, a price-to-earnings ratio of -23.58 and a beta of 0.72. KVH Industries has a fifty-two week low of $4.69 and a fifty-two week high of $9.41.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on KVHI shares. Wall Street Zen downgraded shares of KVH Industries from a "buy" rating to a "hold" rating in a report on Sunday, March 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of KVH Industries in a report on Friday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of "Sell".

Insiders Place Their Bets

In other KVH Industries news, major shareholder Bradley Louis Radoff acquired 30,000 shares of the business's stock in a transaction on Thursday, February 12th. The stock was purchased at an average price of $6.26 per share, for a total transaction of $187,800.00. Following the completion of the transaction, the insider owned 2,180,000 shares of the company's stock, valued at $13,646,800. The trade was a 1.40% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On KVH Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in KVH Industries during the 4th quarter valued at about $102,000. NewEdge Advisors LLC lifted its holdings in shares of KVH Industries by 96.1% in the fourth quarter. NewEdge Advisors LLC now owns 31,566 shares of the communications equipment provider's stock valued at $220,000 after purchasing an additional 15,469 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of KVH Industries by 126.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 145,284 shares of the communications equipment provider's stock valued at $1,013,000 after purchasing an additional 81,252 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of KVH Industries in the fourth quarter valued at approximately $86,000. Finally, Marshall Wace LLP acquired a new stake in shares of KVH Industries in the fourth quarter valued at approximately $239,000. 73.66% of the stock is currently owned by hedge funds and other institutional investors.

About KVH Industries

KVH Industries, Inc develops and manufactures mobile connectivity, inertial navigation, and stabilization systems for maritime, land mobile and defense markets. Its Satellite Communications Group delivers a range of mobile VSAT and broadband systems under the TracPhone and TracNet brands, offering high-speed data, voice and TV programming for commercial and leisure vessels. The company pairs its hardware offerings with the OneCare global network and service platform, providing 24/7 support and coverage across major satellite constellations.

The Inertial Systems Group at KVH produces fiber-optic and hemispherical resonator gyros, inertial measurement units (IMUs) and related inertial navigation products for aerospace, unmanned platforms and precision stabilization applications.

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