William Blair Investment Management LLC Has $28.90 Million Stock Position in Knowles Corporation $KN

William Blair Investment Management LLC lowered its stake in shares of Knowles Corporation (NYSE:KN) by 7.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,640,067 shares of the communications equipment provider’s stock after selling 132,884 shares during the period. William Blair Investment Management LLC’s holdings in Knowles were worth $28,898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in KN. Royce & Associates LP raised its holdings in shares of Knowles by 31.5% during the first quarter. Royce & Associates LP now owns 1,611,679 shares of the communications equipment provider’s stock valued at $24,498,000 after purchasing an additional 386,155 shares during the period. Nuveen LLC acquired a new stake in shares of Knowles in the 1st quarter worth about $5,581,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Knowles by 38.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,150,158 shares of the communications equipment provider’s stock worth $17,425,000 after acquiring an additional 320,587 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in shares of Knowles in the 1st quarter worth about $4,697,000. Finally, Jane Street Group LLC acquired a new stake in shares of Knowles in the 1st quarter worth about $3,335,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Insider Transactions at Knowles

In other Knowles news, SVP Robert J. Perna sold 56,130 shares of the company’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $20.47, for a total value of $1,148,981.10. Following the completion of the sale, the senior vice president directly owned 66,552 shares of the company’s stock, valued at approximately $1,362,319.44. This represents a 45.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Air A. Jr. Bastarrica sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $20.94, for a total transaction of $209,400.00. Following the completion of the sale, the vice president directly owned 62,537 shares of the company’s stock, valued at $1,309,524.78. The trade was a 13.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KN. Craig Hallum upped their target price on shares of Knowles from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Wall Street Zen upgraded shares of Knowles from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 13th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Knowles in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Knowles Trading Down 0.6%

Shares of KN stock opened at $23.42 on Monday. Knowles Corporation has a 52-week low of $12.19 and a 52-week high of $24.53. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.29 and a current ratio of 2.00. The company has a 50-day simple moving average of $22.16 and a two-hundred day simple moving average of $18.80. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 80.76 and a beta of 1.53.

Knowles Profile

Knowles Corporation offers capacitors, radio frequency (RF) filtering products, balanced armature speakers, micro-acoustic microphones, and audio solutions in Asia, the United States, Europe, other Americas, and internationally. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).