Short Interest in KVH Industries, Inc. (NASDAQ:KVHI) Decreases By 39.7%

Key Points

• Short interest in KVH Industries decreased by 39.7% in August, with a total of 41,300 shares sold short, representing approximately 0.4% of the company's shares.
• Several hedge funds have increased their holdings, with First Eagle Investment Management LLC raising its position by 77.1% during the second quarter.
• KVH Industries' stock has a market capitalization of $115.64 million and is currently trading at $5.93, with a 12-month range between $4.35 and $6.16.

KVH Industries, Inc. (NASDAQ:KVHI - ) was the recipient of a large drop in short interest during the month of August. As of August 15th, there was short interest totaling 41,300 shares, adropof39.7% from the July 31st total of 68,500 shares. Approximately0.4% of the shares of the company are sold short. Based on an average trading volume of 24,200 shares, the days-to-cover ratio is presently 1.7 days. Based on an average trading volume of 24,200 shares, the days-to-cover ratio is presently 1.7 days. Approximately0.4% of the shares of the company are sold short.

Hedge Funds Weigh In On KVH Industries

Several hedge funds have recently modified their holdings of KVHI. First Eagle Investment Management LLC increased its position in KVH Industries by 77.1% in the second quarter. First Eagle Investment Management LLC now owns 196,344 shares of the communications equipment provider's stock worth $1,047,000 after purchasing an additional 85,509 shares during the last quarter. Mink Brook Asset Management LLC bought a new position in shares of KVH Industries in the first quarter worth about $441,000. Squarepoint Ops LLC bought a new position in shares of KVH Industries in the fourth quarter worth about $154,000. Peapod Lane Capital LLC lifted its stake in KVH Industries by 7.7% in the second quarter. Peapod Lane Capital LLC now owns 362,086 shares of the communications equipment provider's stock worth $1,930,000 after acquiring an additional 25,993 shares during the period. Finally, Jane Street Group LLC lifted its stake in KVH Industries by 134.0% in the first quarter. Jane Street Group LLC now owns 33,227 shares of the communications equipment provider's stock worth $176,000 after acquiring an additional 19,026 shares during the period. Hedge funds and other institutional investors own 73.66% of the company's stock.

KVH Industries Price Performance

Shares of KVHI traded up $0.19 on Friday, reaching $5.93. The company's stock had a trading volume of 28,931 shares, compared to its average volume of 33,499. KVH Industries has a 12-month low of $4.35 and a 12-month high of $6.16. The stock has a market capitalization of $115.64 million, a P/E ratio of -18.53 and a beta of 0.81. The stock's 50 day simple moving average is $5.41 and its two-hundred day simple moving average is $5.30.

About KVH Industries

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.

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