Point72 Hong Kong Ltd Makes New Investment in Knowles Co. (NYSE:KN)

Point72 Hong Kong Ltd purchased a new stake in Knowles Co. (NYSE:KN) in the second quarter, HoldingsChannel reports. The firm purchased 3,473 shares of the communications equipment provider’s stock, valued at approximately $60,000.

Other hedge funds have also modified their holdings of the company. Quest Partners LLC acquired a new position in Knowles during the second quarter valued at approximately $30,000. Parallel Advisors LLC grew its holdings in shares of Knowles by 217.0% in the 4th quarter. Parallel Advisors LLC now owns 2,311 shares of the communications equipment provider’s stock valued at $41,000 after buying an additional 1,582 shares during the period. Innealta Capital LLC bought a new stake in shares of Knowles in the 2nd quarter valued at $46,000. CWM LLC raised its stake in Knowles by 38.0% during the 2nd quarter. CWM LLC now owns 3,036 shares of the communications equipment provider’s stock worth $52,000 after buying an additional 836 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Knowles during the first quarter worth about $135,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Knowles

In other news, Director Cheryl L. Shavers sold 12,579 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $17.29, for a total transaction of $217,490.91. Following the completion of the transaction, the director now directly owns 48,933 shares of the company’s stock, valued at approximately $846,051.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Cheryl L. Shavers sold 12,579 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $17.29, for a total transaction of $217,490.91. Following the completion of the transaction, the director now directly owns 48,933 shares in the company, valued at approximately $846,051.57. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO John S. Anderson sold 10,444 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $18.50, for a total value of $193,214.00. Following the completion of the transaction, the chief financial officer now owns 211,200 shares of the company’s stock, valued at approximately $3,907,200. The disclosure for this sale can be found here. Company insiders own 2.65% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Knowles Stock Up 1.1 %

Knowles stock opened at $18.04 on Friday. The company has a 50 day moving average of $17.65 and a 200-day moving average of $17.08. The company has a quick ratio of 1.30, a current ratio of 2.36 and a debt-to-equity ratio of 0.28. Knowles Co. has a twelve month low of $12.78 and a twelve month high of $19.73. The stock has a market capitalization of $1.62 billion, a PE ratio of 20.50 and a beta of 1.42.

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

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).