Point72 Asia Singapore Pte. Ltd. Buys New Position in Knowles Co. (NYSE:KN)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Knowles Co. (NYSE:KN) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,520 shares of the communications equipment provider’s stock, valued at approximately $78,000.

A number of other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake in shares of Knowles by 217.0% during the 4th quarter. Parallel Advisors LLC now owns 2,311 shares of the communications equipment provider’s stock worth $41,000 after buying an additional 1,582 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Knowles by 9.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 746,389 shares of the communications equipment provider’s stock worth $12,017,000 after acquiring an additional 62,332 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Knowles by 76.2% during the first quarter. BNP Paribas Financial Markets now owns 44,361 shares of the communications equipment provider’s stock valued at $714,000 after purchasing an additional 19,181 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in Knowles in the first quarter valued at approximately $1,435,000. Finally, Nordea Investment Management AB increased its position in shares of Knowles by 43.5% during the 1st quarter. Nordea Investment Management AB now owns 486,393 shares of the communications equipment provider’s stock worth $7,773,000 after purchasing an additional 147,372 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Knowles Stock Up 2.5 %

Knowles stock opened at $17.69 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.36 and a quick ratio of 1.30. The company’s 50-day moving average is $17.55 and its 200-day moving average is $17.17. The firm has a market capitalization of $1.59 billion, a PE ratio of 20.10 and a beta of 1.42. Knowles Co. has a fifty-two week low of $12.78 and a fifty-two week high of $19.73.

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

Insider Buying and Selling

In related news, CFO John S. Anderson sold 10,444 shares of Knowles stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $18.50, for a total transaction of $193,214.00. Following the completion of the sale, the chief financial officer now owns 211,200 shares of the company’s stock, valued at approximately $3,907,200. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Knowles news, Director Cheryl L. Shavers sold 12,579 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $17.29, for a total value of $217,490.91. Following the transaction, the director now directly owns 48,933 shares of the company’s stock, valued at $846,051.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO John S. Anderson sold 10,444 shares of Knowles stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $18.50, for a total value of $193,214.00. Following the sale, the chief financial officer now directly owns 211,200 shares of the company’s stock, valued at $3,907,200. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,748 shares of company stock valued at $530,948. 2.65% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Knowles Profile

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).