Kahn Brothers Group Inc. DE lifted its holdings in VOXX International Corp (NASDAQ:VOXX) by 12.1% during the second quarter, Holdings Channel reports. The fund owned 3,967,546 shares of the auto parts company’s stock after buying an additional 429,789 shares during the quarter. VOXX International makes up 2.1% of Kahn Brothers Group Inc. DE’s holdings, making the stock its 14th largest holding. Kahn Brothers Group Inc. DE owned approximately 0.16% of VOXX International worth $16,505,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in VOXX. Sand Hill Global Advisors LLC acquired a new stake in VOXX International during the first quarter valued at $60,000. Dimensional Fund Advisors LP grew its position in VOXX International by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,845,211 shares of the auto parts company’s stock valued at $7,307,000 after buying an additional 13,397 shares during the period. Moors & Cabot Inc. grew its position in VOXX International by 20.5% during the second quarter. Moors & Cabot Inc. now owns 199,751 shares of the auto parts company’s stock valued at $824,000 after buying an additional 34,000 shares during the period. BlackRock Inc. grew its position in VOXX International by 1.7% during the fourth quarter. BlackRock Inc. now owns 474,849 shares of the auto parts company’s stock valued at $1,880,000 after buying an additional 8,105 shares during the period. Finally, Bank of New York Mellon Corp grew its position in VOXX International by 74.3% during the fourth quarter. Bank of New York Mellon Corp now owns 31,620 shares of the auto parts company’s stock valued at $125,000 after buying an additional 13,483 shares during the period. Hedge funds and other institutional investors own 52.74% of the company’s stock.
Separately, TheStreet lowered shares of VOXX International from a “c-” rating to a “d” rating in a research report on Wednesday, June 19th.
VOXX International (NASDAQ:VOXX) last released its quarterly earnings results on Wednesday, July 10th. The auto parts company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. The company had revenue of $93.45 million for the quarter. VOXX International had a negative net margin of 10.54% and a negative return on equity of 4.01%. During the same quarter in the prior year, the business posted ($0.74) EPS.
VOXX International announced that its board has approved a stock buyback plan on Tuesday, May 14th that permits the company to buyback 3,000,000 outstanding shares. This buyback authorization permits the auto parts company to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
VOXX International Company Profile
VOXX International Corporation, together with its subsidiaries, manufactures and distributes automotive, audio, and consumer accessories worldwide. Its Automotive segment offers rear-seat entertainment devices, satellite radio products, automotive security and remote start systems, mobile multimedia devices, aftermarket/OE-styled radios, car link-smartphone telematics applications, collision avoidance systems, and location-based services.
Further Reading: Growth and Income Funds
Want to see what other hedge funds are holding VOXX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VOXX International Corp (NASDAQ:VOXX).
Receive News & Ratings for VOXX International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VOXX International and related companies with MarketBeat.com's FREE daily email newsletter.