GAMMA Investing LLC Buys 3,520 Shares of Knowles Corporation $KN

GAMMA Investing LLC lifted its stake in shares of Knowles Corporation (NYSE:KN) by 118.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,482 shares of the communications equipment provider’s stock after purchasing an additional 3,520 shares during the quarter. GAMMA Investing LLC’s holdings in Knowles were worth $114,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ariel Investments LLC raised its stake in shares of Knowles by 3.9% during the 1st quarter. Ariel Investments LLC now owns 4,657,747 shares of the communications equipment provider’s stock valued at $70,798,000 after purchasing an additional 174,549 shares during the period. Wellington Management Group LLP grew its position in Knowles by 3.7% during the first quarter. Wellington Management Group LLP now owns 2,592,223 shares of the communications equipment provider’s stock worth $39,402,000 after buying an additional 92,792 shares in the last quarter. Royce & Associates LP grew its position in Knowles by 31.5% during the first quarter. Royce & Associates LP now owns 1,611,679 shares of the communications equipment provider’s stock worth $24,498,000 after buying an additional 386,155 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Knowles by 38.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,150,158 shares of the communications equipment provider’s stock worth $17,425,000 after buying an additional 320,587 shares in the last quarter. Finally, Raymond James Financial Inc. grew its position in Knowles by 4.2% during the first quarter. Raymond James Financial Inc. now owns 851,752 shares of the communications equipment provider’s stock worth $12,947,000 after buying an additional 34,042 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Craig Hallum boosted their target price on Knowles from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Wall Street Zen upgraded Knowles from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 13th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.00.

Insider Buying and Selling

In related news, SVP Robert J. Perna sold 56,130 shares of the firm’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $20.47, for a total transaction of $1,148,981.10. Following the completion of the transaction, the senior vice president owned 66,552 shares of the company’s stock, valued at $1,362,319.44. This trade represents a 45.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Air A. Jr. Bastarrica sold 10,000 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $20.94, for a total value of $209,400.00. Following the sale, the vice president owned 62,537 shares in the company, valued at approximately $1,309,524.78. This represents a 13.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.54% of the stock is owned by company insiders.

Knowles Trading Up 2.2%

KN opened at $23.83 on Thursday. The business has a 50 day simple moving average of $21.34 and a two-hundred day simple moving average of $18.11. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 82.18 and a beta of 1.53. 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 one year low of $12.19 and a one year high of $23.92.

Knowles 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).