Needham Investment Management LLC Sells 176,450 Shares of KVH Industries, Inc. (NASDAQ:KVHI)

Needham Investment Management LLC lessened its stake in KVH Industries, Inc. (NASDAQ:KVHI - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,115,150 shares of the communications equipment provider's stock after selling 176,450 shares during the period. Needham Investment Management LLC owned about 5.63% of KVH Industries worth $6,356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of KVHI. Barclays PLC increased its stake in shares of KVH Industries by 4.2% in the 3rd quarter. Barclays PLC now owns 65,466 shares of the communications equipment provider's stock worth $316,000 after acquiring an additional 2,645 shares in the last quarter. Peapod Lane Capital LLC purchased a new position in shares of KVH Industries in the fourth quarter worth $1,909,000. Kovack Advisors Inc. purchased a new position in shares of KVH Industries in the fourth quarter worth $197,000. Geode Capital Management LLC raised its stake in shares of KVH Industries by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 147,176 shares of the communications equipment provider's stock worth $839,000 after purchasing an additional 7,466 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of KVH Industries by 23.8% in the fourth quarter. Renaissance Technologies LLC now owns 249,915 shares of the communications equipment provider's stock worth $1,425,000 after purchasing an additional 48,002 shares during the last quarter. Institutional investors own 73.66% of the company's stock.

KVH Industries Stock Performance

Shares of KVHI stock traded down $0.08 during mid-day trading on Friday, hitting $5.19. The company's stock had a trading volume of 18,986 shares, compared to its average volume of 56,102. The stock has a market cap of $101.72 million, a price-to-earnings ratio of -5.35 and a beta of 0.78. KVH Industries, Inc. has a 52-week low of $4.17 and a 52-week high of $6.16. The business has a 50-day moving average price of $5.08 and a 200 day moving average price of $5.41.

KVH Industries (NASDAQ:KVHI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.05). KVH Industries had a negative net margin of 15.99% and a negative return on equity of 3.96%. The firm had revenue of $25.41 million for the quarter, compared to analysts' expectations of $28.39 million.

KVH Industries Company Profile

KVH Industries, Inc, together with its subsidiaries, engages in the design, development, manufacture, and marketing of mobile connectivity solutions for the marine and land mobile markets in the United States and internationally. The company offers Internet and VoIP airtime services; AgilePlans, a Connectivity as a Service solution; KVH Link, a crew wellbeing content subscription service with delivery by IP-Mobilecast; and OpenNet, a KVH VSAT data delivering service for non-KVH Ku-band VSAT terminals.