Short Interest in KVH Industries, Inc. (NASDAQ:KVHI) Declines By 7.1%

KVH Industries, Inc. (NASDAQ:KVHI) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 51,100 shares, a decline of 7.1% from the August 15th total of 55,000 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average trading volume of 106,000 shares, the days-to-cover ratio is currently 0.5 days.

Insider Activity

In other KVH Industries news, major shareholder Bradley Louis Radoff bought 239,173 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $4.35 per share, with a total value of $1,040,402.55. Following the acquisition, the insider now directly owns 2,009,500 shares of the company’s stock, valued at approximately $8,741,325. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have acquired 319,761 shares of company stock valued at $1,406,960 in the last ninety days. 5.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On KVH Industries

Several hedge funds have recently added to or reduced their stakes in KVHI. Cubist Systematic Strategies LLC acquired a new stake in shares of KVH Industries in the second quarter valued at approximately $30,000. American Century Companies Inc. purchased a new stake in shares of KVH Industries in the second quarter valued at $54,000. AQR Capital Management LLC purchased a new stake in shares of KVH Industries in the second quarter valued at $63,000. Marshall Wace LLP acquired a new stake in shares of KVH Industries during the second quarter valued at $75,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in KVH Industries during the 2nd quarter worth about $130,000. 73.66% of the stock is currently owned by hedge funds and other institutional investors.

KVH Industries Stock Performance

Shares of KVHI opened at $4.70 on Friday. The stock has a market capitalization of $92.67 million, a P/E ratio of -4.90 and a beta of 0.60. KVH Industries has a 1 year low of $4.17 and a 1 year high of $5.66. The company’s fifty day moving average is $4.55 and its two-hundred day moving average is $4.78.

KVH Industries (NASDAQ:KVHI) last issued its earnings results on Thursday, August 1st. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. KVH Industries had a negative net margin of 17.88% and a negative return on equity of 2.64%. The company had revenue of $28.67 million during the quarter.

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.