Insider Selling: KVH Industries (NASDAQ:KVHI) CEO Sells $16,948.00 in Stock

KVH Industries, Inc. (NASDAQ:KVHI) CEO Brent Bruun sold 2,230 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $7.60, for a total transaction of $16,948.00. Following the sale, the chief executive officer owned 167,394 shares of the company’s stock, valued at approximately $1,272,194.40. This trade represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

KVH Industries Price Performance

KVHI opened at $8.62 on Monday. KVH Industries, Inc. has a twelve month low of $5.09 and a twelve month high of $13.00. The company has a fifty day moving average of $9.66 and a 200-day moving average of $7.86. The stock has a market cap of $168.09 million, a PE ratio of -33.15 and a beta of 0.43.

KVH Industries (NASDAQ:KVHI) last posted its quarterly earnings data 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 net margin of 4.31% and a negative return on equity of 0.80%. The company had revenue of $32.32 million during the quarter, compared to analysts’ expectations of $30.56 million.

Analysts Set New Price Targets

Several research firms have recently weighed in on KVHI. Weiss Ratings reiterated a “sell (d-)” rating on shares of KVH Industries in a research report on Friday, March 27th. Wall Street Zen cut shares of KVH Industries from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, KVH Industries currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of KVHI. Potomac Capital Management Inc. bought a new position in KVH Industries during the fourth quarter worth $3,252,000. Bridgeway Capital Management LLC boosted its stake in KVH Industries by 126.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 145,284 shares of the communications equipment provider’s stock worth $1,013,000 after acquiring an additional 81,252 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in KVH Industries during the fourth quarter worth $521,000. Mink Brook Asset Management LLC boosted its stake in KVH Industries by 84.5% during the second quarter. Mink Brook Asset Management LLC now owns 153,683 shares of the communications equipment provider’s stock worth $819,000 after acquiring an additional 70,382 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in KVH Industries by 22.0% during the first quarter. Renaissance Technologies LLC now owns 345,515 shares of the communications equipment provider’s stock worth $3,096,000 after acquiring an additional 62,407 shares in the last quarter. 73.66% of the stock is owned by institutional investors.

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.