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

Needham Investment Management LLC cut its holdings in KVH Industries, Inc. (NASDAQ:KVHI - Free Report) by 13.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,115,150 shares of the communications equipment provider's stock after selling 176,450 shares during the quarter. Needham Investment Management LLC owned 5.63% of KVH Industries worth $6,356,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KVHI. Black Diamond Capital Management L.L.C. raised its stake in KVH Industries by 0.8% during the 4th quarter. Black Diamond Capital Management L.L.C. now owns 3,384,054 shares of the communications equipment provider's stock valued at $19,289,000 after buying an additional 26,656 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in KVH Industries by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 840,622 shares of the communications equipment provider's stock valued at $4,791,000 after buying an additional 18,448 shares during the last quarter. Peapod Lane Capital LLC purchased a new stake in KVH Industries during the 4th quarter valued at $1,909,000. Renaissance Technologies LLC raised its stake in KVH Industries by 23.8% during the 4th quarter. Renaissance Technologies LLC now owns 249,915 shares of the communications equipment provider's stock valued at $1,425,000 after buying an additional 48,002 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of KVH Industries by 5.3% in the 4th 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 in the last quarter. 73.66% of the stock is owned by institutional investors.

KVH Industries Price Performance

Shares of NASDAQ:KVHI traded down $0.08 during midday trading on Friday, hitting $5.19. The company had a trading volume of 18,986 shares, compared to its average volume of 56,532. The company 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 12-month low of $4.17 and a 12-month high of $6.16. The company has a fifty day moving average of $5.08 and a two-hundred day moving average of $5.40.

KVH Industries (NASDAQ:KVHI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The communications equipment provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The firm had revenue of $25.41 million during the quarter, compared to the consensus estimate of $28.39 million. KVH Industries had a negative return on equity of 3.96% and a negative net margin of 15.99%.

KVH Industries 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.