Hsbc Holdings PLC Has $244,000 Holdings in Knowles Corporation $KN

Hsbc Holdings PLC grew its stake in shares of Knowles Corporation (NYSE:KN) by 9.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,095 shares of the communications equipment provider’s stock after acquiring an additional 1,415 shares during the period. Hsbc Holdings PLC’s holdings in Knowles were worth $244,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in Knowles by 725.6% during the first quarter. Versant Capital Management Inc now owns 1,643 shares of the communications equipment provider’s stock worth $25,000 after acquiring an additional 1,444 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Knowles by 47.0% in the first quarter. Meeder Asset Management Inc. now owns 3,703 shares of the communications equipment provider’s stock valued at $56,000 after buying an additional 1,184 shares in the last quarter. Stifel Financial Corp acquired a new stake in shares of Knowles in the fourth quarter valued at approximately $209,000. Ethic Inc. acquired a new stake in shares of Knowles in the fourth quarter valued at approximately $210,000. Finally, Teza Capital Management LLC acquired a new stake in shares of Knowles in the fourth quarter valued at approximately $227,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KN. Wall Street Zen downgraded shares of Knowles from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Craig Hallum lifted their price target on shares of Knowles from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Knowles presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Knowles Stock Performance

Shares of NYSE:KN opened at $21.62 on Friday. The company’s 50 day simple moving average is $19.62 and its 200 day simple moving average is $17.35. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 74.56 and a beta of 1.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.00 and a quick ratio of 1.29. Knowles Corporation has a 1 year low of $12.19 and a 1 year high of $21.74.

Insiders Place Their Bets

In related news, SVP Robert J. Perna sold 56,130 shares of the business’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $20.47, for a total value of $1,148,981.10. Following the sale, the senior vice president owned 66,552 shares of the company’s stock, valued at $1,362,319.44. The trade was a 45.75% 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. Also, VP Air A. Jr. Bastarrica sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $20.94, for a total transaction of $209,400.00. Following the completion of the transaction, the vice president owned 62,537 shares in the company, valued at approximately $1,309,524.78. The trade was a 13.79% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.54% of the company’s stock.

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).