Knowles (NYSE:KN) Shares Gap Down to $17.20

Knowles Co. (NYSE:KN) shares gapped down prior to trading on Thursday . The stock had previously closed at $17.20, but opened at $16.46. Knowles shares last traded at $16.81, with a volume of 124,605 shares changing hands.

Analysts Set New Price Targets

Separately, Susquehanna raised their price objective on shares of Knowles from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th.

Knowles Stock Up 0.8 %

The company has a current ratio of 2.36, a quick ratio of 1.30 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $1.56 billion, a P/E ratio of 19.23 and a beta of 1.42. The firm’s 50 day moving average price is $17.80 and its two-hundred day moving average price is $17.04.

Knowles (NYSE:KN) last issued its quarterly earnings results on Wednesday, July 31st. The communications equipment provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.16). The business had revenue of $204.70 million for the quarter. Knowles had a positive return on equity of 5.39% and a negative net margin of 24.36%.

Insider Buying and Selling

In other Knowles news, CFO John S. Anderson sold 10,444 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $18.50, for a total transaction of $193,214.00. Following the sale, the chief financial officer now owns 211,200 shares of the company’s stock, valued at $3,907,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.65% of the stock is owned by corporate insiders.

Institutional Trading of Knowles

Several hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. increased its stake in Knowles by 10.9% in the fourth quarter. Franklin Resources Inc. now owns 9,181,260 shares of the communications equipment provider’s stock valued at $164,436,000 after purchasing an additional 904,446 shares in the last quarter. Norges Bank acquired a new position in Knowles during the 4th quarter worth approximately $10,562,000. Victory Capital Management Inc. boosted its holdings in Knowles by 569.5% in the second quarter. Victory Capital Management Inc. now owns 665,947 shares of the communications equipment provider’s stock worth $11,494,000 after acquiring an additional 566,476 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Knowles by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 6,678,995 shares of the communications equipment provider’s stock valued at $115,277,000 after acquiring an additional 375,822 shares during the period. Finally, Eagle Asset Management Inc. bought a new stake in shares of Knowles during the fourth quarter valued at approximately $3,832,000. Institutional investors own 96.35% of the company’s stock.

About Knowles

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).