VOXX International (NASDAQ:VOXX) Downgraded by StockNews.com

VOXX International (NASDAQ:VOXX) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

VOXX International Trading Up 1.5 %

Shares of VOXX stock opened at $5.91 on Thursday. The company has a current ratio of 2.43, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. VOXX International has a twelve month low of $2.27 and a twelve month high of $11.74. The company’s 50-day moving average price is $3.41 and its 200-day moving average price is $5.07. The stock has a market cap of $132.86 million, a price-to-earnings ratio of -3.47 and a beta of 1.25.

VOXX International (NASDAQ:VOXX) last announced its quarterly earnings results on Wednesday, July 10th. The auto parts company reported ($0.40) earnings per share (EPS) for the quarter. VOXX International had a negative return on equity of 14.59% and a negative net margin of 8.78%. The firm had revenue of $91.66 million for the quarter.

Insider Activity

In related news, major shareholder Corp Gentex acquired 3,152,500 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the transaction, the insider now owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other VOXX International news, major shareholder Corp Gentex acquired 3,152,500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the acquisition, the insider now owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Beat Kahli sold 20,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $5.00, for a total transaction of $100,000.00. The disclosure for this sale can be found here. Insiders own 49.81% of the company’s stock.

Institutional Trading of VOXX International

Several hedge funds have recently added to or reduced their stakes in the company. Acuitas Investments LLC acquired a new position in VOXX International during the 2nd quarter worth approximately $855,000. Squarepoint Ops LLC acquired a new stake in shares of VOXX International in the 2nd quarter valued at $130,000. Renaissance Technologies LLC lifted its position in shares of VOXX International by 6.3% during the 2nd quarter. Renaissance Technologies LLC now owns 421,826 shares of the auto parts company’s stock worth $1,333,000 after purchasing an additional 25,000 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of VOXX International during the second quarter worth $67,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in VOXX International in the second quarter valued at $63,000. Institutional investors and hedge funds own 71.00% of the company’s stock.

About VOXX International

VOXX International Corporation manufactures and distributes automotive electronics, consumer electronics, and biometric products in the United States, Europe, and internationally. Its Automotive Electronics segment offers mobile multi-media infotainment products, including overhead, seat-back, and headrest systems; automotive security, vehicle access, and remote start systems; satellite radios comprising plug and play, and direct connect models; smart phone telematics applications; mobile interface modules; automotive power accessories; rear observation and collision avoidance systems; driver distraction products; power lift gates; turn signal switches; automotive lighting products; automotive sensing and camera systems; USB ports; cruise control systems; and heated seats.