Inverness Counsel LLC NY Reduces Stake in Knowles Corp (KN)

Inverness Counsel LLC NY lessened its position in Knowles Corp (NYSE:KN) by 7.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 128,506 shares of the communications equipment provider’s stock after selling 10,100 shares during the quarter. Inverness Counsel LLC NY’s holdings in Knowles were worth $2,136,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of KN. CIBC Asset Management Inc bought a new stake in shares of Knowles in the 2nd quarter worth $175,000. UBS Group AG raised its stake in shares of Knowles by 112.3% in the 1st quarter. UBS Group AG now owns 14,620 shares of the communications equipment provider’s stock worth $184,000 after buying an additional 7,733 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Knowles in the 1st quarter worth $215,000. We Are One Seven LLC bought a new stake in shares of Knowles in the 3rd quarter worth $232,000. Finally, Crossmark Global Holdings Inc. raised its stake in shares of Knowles by 38.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,472 shares of the communications equipment provider’s stock worth $237,000 after buying an additional 4,290 shares in the last quarter.

A number of analysts have recently commented on KN shares. JPMorgan Chase & Co. downgraded Knowles from a “neutral” rating to an “underweight” rating and set a $13.50 price objective on the stock. in a research note on Friday, August 3rd. Roth Capital dropped their price objective on Knowles from $22.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, October 22nd. ValuEngine raised Knowles from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Piper Jaffray Companies reissued a “hold” rating and issued a $16.50 price objective on shares of Knowles in a research note on Wednesday, July 25th. Finally, Dougherty & Co downgraded Knowles from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.17.



Shares of Knowles stock traded up $0.73 on Tuesday, reaching $15.73. 111,317 shares of the company were exchanged, compared to its average volume of 1,117,540. The firm has a market capitalization of $1.36 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 2.24 and a beta of 1.02. The company has a quick ratio of 1.55, a current ratio of 2.60 and a debt-to-equity ratio of 0.17. Knowles Corp has a fifty-two week low of $10.94 and a fifty-two week high of $18.32.

Knowles (NYSE:KN) last announced its earnings results on Wednesday, October 24th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The company had revenue of $236.20 million for the quarter, compared to analyst estimates of $219.73 million. Knowles had a return on equity of 6.40% and a net margin of 8.99%. Knowles’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 earnings per share. Analysts expect that Knowles Corp will post 0.67 EPS for the current year.

About Knowles

Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions to the mobile consumer electronics, industrial, defense, aerospace medical, and telecommunications markets worldwide. The company operates in two segments, Audio and Precision Devices.

Further Reading: How Do You Make Money With Penny Stocks?

Want to see what other hedge funds are holding KN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Knowles Corp (NYSE:KN).

Institutional Ownership by Quarter for Knowles (NYSE:KN)

Receive News & Ratings for Knowles Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Knowles and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply