Geode Capital Management LLC Cuts Stake in KVH Industries, Inc. (NASDAQ:KVHI)

Geode Capital Management LLC reduced its holdings in shares of KVH Industries, Inc. (NASDAQ:KVHI) by 7.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 139,710 shares of the communications equipment provider’s stock after selling 10,720 shares during the period. Geode Capital Management LLC’s holdings in KVH Industries were worth $675,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new stake in KVH Industries during the 2nd quarter worth approximately $30,000. American Century Companies Inc. purchased a new stake in KVH Industries during the 2nd quarter worth approximately $54,000. AQR Capital Management LLC acquired a new position in KVH Industries during the 2nd quarter worth approximately $63,000. Marshall Wace LLP acquired a new position in KVH Industries during the 2nd quarter worth approximately $75,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in KVH Industries during the 2nd quarter worth approximately $130,000. 73.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Bradley Louis Radoff purchased 17,499 shares of the stock in a transaction on Monday, November 11th. The stock was bought at an average price of $4.67 per share, for a total transaction of $81,720.33. Following the acquisition, the insider now directly owns 2,077,499 shares of the company’s stock, valued at approximately $9,701,920.33. The trade was a 0.85 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 20.70% of the stock is currently owned by company insiders.

KVH Industries Stock Up 0.9 %

NASDAQ KVHI opened at $5.74 on Friday. KVH Industries, Inc. has a 52 week low of $4.17 and a 52 week high of $6.00. The stock has a market capitalization of $113.65 million, a PE ratio of -5.92 and a beta of 0.62. The firm has a 50 day moving average of $5.39 and a two-hundred day moving average of $4.89.

KVH Industries Profile

KVH Industries, Inc, together with its subsidiaries, engages in the design, development, manufacture, and marketing of mobile connectivity solutions for the marine and land mobile markets in the United States and internationally. The company offers Internet and VoIP airtime services; AgilePlans, a Connectivity as a Service solution; KVH Link, a crew wellbeing content subscription service with delivery by IP-Mobilecast; and OpenNet, a KVH VSAT data delivering service for non-KVH Ku-band VSAT terminals.