Millennium Management LLC Reduces Stake in Knowles Co. (NYSE:KN)

Millennium Management LLC lowered its stake in Knowles Co. (NYSE:KN) by 65.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,694 shares of the communications equipment provider’s stock after selling 128,919 shares during the period. Millennium Management LLC owned approximately 0.08% of Knowles worth $1,329,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its stake in Knowles by 4.3% in the 4th quarter. Quadrant Capital Group LLC now owns 14,417 shares of the communications equipment provider’s stock worth $287,000 after buying an additional 588 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Knowles by 46.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,095 shares of the communications equipment provider’s stock worth $42,000 after acquiring an additional 669 shares during the period. Blue Trust Inc. increased its position in Knowles by 72.4% during the 4th quarter. Blue Trust Inc. now owns 3,451 shares of the communications equipment provider’s stock valued at $69,000 after purchasing an additional 1,449 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Knowles by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,477 shares of the communications equipment provider’s stock valued at $986,000 after purchasing an additional 1,844 shares during the period. Finally, KBC Group NV increased its position in Knowles by 66.6% during the 4th quarter. KBC Group NV now owns 4,869 shares of the communications equipment provider’s stock valued at $97,000 after purchasing an additional 1,947 shares during the period. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Insider Buying and Selling

In other Knowles news, SVP Raymond D. Cabrera sold 5,545 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $17.25, for a total value of $95,651.25. Following the sale, the senior vice president now directly owns 111,286 shares of the company’s stock, valued at approximately $1,919,683.50. This represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.54% of the stock is owned by corporate insiders.

Knowles Stock Performance

Shares of KN stock opened at $16.62 on Wednesday. The business’s fifty day simple moving average is $15.56 and its 200-day simple moving average is $17.53. The company has a market cap of $1.45 billion, a PE ratio of -6.27 and a beta of 1.40. The company has a current ratio of 1.83, a quick ratio of 1.23 and a debt-to-equity ratio of 0.18. Knowles Co. has a 12-month low of $12.19 and a 12-month high of $20.86.

Knowles (NYSE:KN) last announced its quarterly earnings data on Thursday, April 24th. The communications equipment provider reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $132.20 million for the quarter, compared to analyst estimates of $128.95 million. Knowles had a negative net margin of 34.66% and a positive return on equity of 5.52%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share.

Analysts Set New Price Targets

A number of equities analysts recently commented on KN shares. Robert W. Baird boosted their price objective on shares of Knowles from $18.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Wall Street Zen downgraded shares of Knowles from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Finally, Craig Hallum raised shares of Knowles from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Monday, April 7th.

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).