Point72 DIFC Ltd Acquires New Shares in Knowles Co. (NYSE:KN)

Point72 DIFC Ltd bought a new position in Knowles Co. (NYSE:KN) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 11,886 shares of the communications equipment provider’s stock, valued at approximately $205,000.

Several other large investors have also added to or reduced their stakes in KN. Norges Bank bought a new position in Knowles in the 4th quarter valued at $10,562,000. Trexquant Investment LP purchased a new stake in shares of Knowles in the fourth quarter worth $920,000. Commerce Bank bought a new stake in Knowles during the fourth quarter valued at $181,000. Parallel Advisors LLC grew its position in Knowles by 217.0% during the fourth 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 in the last quarter. Finally, TFO Wealth Partners LLC increased its stake in Knowles by 1,551,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 15,512 shares of the communications equipment provider’s stock worth $278,000 after acquiring an additional 15,511 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

Insiders Place Their Bets

In related news, CFO John S. Anderson sold 10,444 shares of the 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 transaction, the chief financial officer now owns 211,200 shares of the company’s stock, valued at approximately $3,907,200. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO John S. Anderson sold 10,444 shares of the company’s 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 transaction, the chief financial officer now directly owns 211,200 shares of the company’s stock, valued at $3,907,200. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Cheryl L. Shavers sold 12,579 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $17.29, for a total value of $217,490.91. Following the transaction, the director now owns 48,933 shares in the company, valued at approximately $846,051.57. The disclosure for this sale can be found here. 2.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Knowles Stock Performance

Knowles stock opened at $18.04 on Friday. Knowles Co. has a fifty-two week low of $12.78 and a fifty-two week high of $19.73. The firm’s fifty day moving average price is $17.65 and its 200-day moving average price is $17.08. The stock has a market cap of $1.62 billion, a P/E ratio of 20.50 and a beta of 1.42. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 2.36.

Knowles (NYSE:KN) last released 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). The firm had revenue of $204.70 million for the quarter. Knowles had a negative net margin of 24.36% and a positive return on equity of 5.39%.

Knowles Company 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).