Menora Mivtachim Holdings LTD. Takes Position in Kornit Digital Ltd (NASDAQ:KRNT)

Menora Mivtachim Holdings LTD. acquired a new stake in shares of Kornit Digital Ltd (NASDAQ:KRNT) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 106,420 shares of the industrial products company’s stock, valued at approximately $3,369,000. Menora Mivtachim Holdings LTD. owned 0.26% of Kornit Digital at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Kornit Digital by 31.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,752 shares of the industrial products company’s stock valued at $42,000 after buying an additional 419 shares in the last quarter. Stephens Inc. AR acquired a new stake in Kornit Digital in the 1st quarter valued at $54,000. Legal & General Group Plc boosted its stake in Kornit Digital by 70.7% in the 4th quarter. Legal & General Group Plc now owns 2,296 shares of the industrial products company’s stock valued at $43,000 after buying an additional 951 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Kornit Digital in the 2nd quarter valued at $207,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Kornit Digital in the 1st quarter valued at $165,000. Institutional investors and hedge funds own 85.24% of the company’s stock.

KRNT has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $35.00 price objective on Kornit Digital and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Zacks Investment Research lowered Kornit Digital from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 27th. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price objective (up previously from $32.00) on shares of Kornit Digital in a research note on Tuesday, June 18th. BidaskClub raised Kornit Digital from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 27th. Finally, TheStreet raised Kornit Digital from a “c+” rating to a “b” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $28.00.

Shares of KRNT stock traded up $0.34 on Tuesday, reaching $27.89. 12,686 shares of the stock were exchanged, compared to its average volume of 271,781. The company has a market capitalization of $1.11 billion, a PE ratio of 116.79 and a beta of 1.05. Kornit Digital Ltd has a one year low of $16.10 and a one year high of $32.20. The company has a current ratio of 7.23, a quick ratio of 6.35 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average price is $29.96.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Tuesday, August 6th. The industrial products company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $43.89 million for the quarter, compared to the consensus estimate of $45.91 million. Kornit Digital had a return on equity of 3.04% and a net margin of 5.69%. The company’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS. As a group, analysts anticipate that Kornit Digital Ltd will post 0.3 earnings per share for the current year.

Kornit Digital Profile

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.

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Institutional Ownership by Quarter for Kornit Digital (NASDAQ:KRNT)

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