Potomac Capital Management Inc. Acquires New Stake in KVH Industries, Inc. $KVHI

Potomac Capital Management Inc. acquired a new stake in shares of KVH Industries, Inc. (NASDAQ:KVHI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 466,600 shares of the communications equipment provider’s stock, valued at approximately $3,252,000. KVH Industries makes up approximately 2.6% of Potomac Capital Management Inc.’s holdings, making the stock its 11th largest position. Potomac Capital Management Inc. owned approximately 2.38% of KVH Industries at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KVHI. Hillsdale Investment Management Inc. bought a new position in KVH Industries during the 4th quarter valued at approximately $54,000. NewEdge Advisors LLC bought a new stake in shares of KVH Industries in the 3rd quarter worth $90,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of KVH Industries in the third quarter worth $113,000. Squarepoint Ops LLC raised its stake in shares of KVH Industries by 27.8% in the third quarter. Squarepoint Ops LLC now owns 27,303 shares of the communications equipment provider’s stock worth $153,000 after purchasing an additional 5,935 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in shares of 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 purchasing an additional 19,026 shares during the last quarter. Institutional investors own 73.66% of the company’s stock.

KVH Industries Price Performance

KVHI stock opened at $7.51 on Wednesday. KVH Industries, Inc. has a 1-year low of $5.09 and a 1-year high of $13.00. The business has a fifty day moving average price of $9.71 and a 200-day moving average price of $7.82. The stock has a market capitalization of $146.45 million, a P/E ratio of -28.88 and a beta of 0.43.

KVH Industries (NASDAQ:KVHI) last posted its quarterly earnings results on Wednesday, May 6th. The communications equipment provider reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.05. KVH Industries had a negative return on equity of 0.80% and a negative net margin of 4.31%.The firm had revenue of $32.32 million during the quarter, compared to analysts’ expectations of $30.56 million.

Insider Activity at KVH Industries

In related news, major shareholder Bradley Louis Radoff sold 35,000 shares of KVH Industries stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $11.20, for a total value of $392,000.00. Following the completion of the sale, the insider owned 290,000 shares of the company’s stock, valued at $3,248,000. The trade was a 10.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 21.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on KVHI. Weiss Ratings restated a “sell (d-)” rating on shares of KVH Industries in a research note on Friday, March 27th. Wall Street Zen upgraded KVH Industries from a “hold” rating to a “buy” rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

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.