Knowles Corporation (NYSE:KN) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in shares of Knowles Corporation (NYSE:KN) by 1,518.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,022 shares of the communications equipment provider’s stock after buying an additional 42,241 shares during the period. GAMMA Investing LLC owned approximately 0.05% of Knowles worth $684,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in KN. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Knowles during the fourth quarter worth about $28,798,000. Raymond James Financial Inc. bought a new stake in shares of Knowles during the 4th quarter worth $16,297,000. Norges Bank acquired a new stake in shares of Knowles in the fourth quarter worth $7,983,000. Royce & Associates LP boosted its position in shares of Knowles by 40.8% in the fourth quarter. Royce & Associates LP now owns 1,225,524 shares of the communications equipment provider’s stock worth $24,425,000 after buying an additional 355,401 shares during the period. Finally, Confluence Investment Management LLC purchased a new stake in shares of Knowles during the first quarter worth $2,583,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Raymond D. Cabrera sold 5,545 shares of the business’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 owns 111,286 shares of the company’s stock, valued at $1,919,683.50. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Knowles Price Performance

KN stock opened at $16.94 on Wednesday. The stock has a 50-day moving average price of $16.17 and a two-hundred day moving average price of $17.41. The stock has a market cap of $1.47 billion, a PE ratio of -6.27 and a beta of 1.41. The company has a current ratio of 2.02, a quick ratio of 1.30 and a debt-to-equity ratio of 0.16. Knowles Corporation has a 1 year low of $12.19 and a 1 year 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 the consensus estimate of $0.18. Knowles had a positive return on equity of 6.35% and a negative net margin of 38.96%. The company had revenue of $132.20 million during the quarter, compared to analysts’ expectations of $128.95 million. During the same quarter last year, the company earned $0.18 EPS. Knowles’s revenue for the quarter was down .8% compared to the same quarter last year.

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).