Knowles Co. (NYSE:KN) Brief Interest Update
Knowles Co. (NYSE: KN- Get a rating) saw a significant drop in short-term interest rates in August. As of August 31, there was short interest totaling 2,270,000 shares, down 13.7% from the total of 2,630,000 shares as of August 15. Based on an average trading volume of 880,300 shares, the day-to-cover ratio is currently 2.6 days. Approximately 2.5% of the company’s shares are sold short.
Knowles shares down 0.6%
Shares of KN traded down $0.08 during Friday’s midday session, hitting $13.30. The company’s shares had a trading volume of 2,245,243 shares, against an average volume of 896,954. The company’s 50-day moving average is $16.55 and its 200-day moving average is 18 $.36. Knowles has a 52-week low of $12.98 and a 52-week high of $23.81. The company has a market capitalization of $1.22 billion, a price-earnings ratio of -11.27 and a beta of 1.42. The company has a current ratio of 2.54, a quick ratio of 1.27 and a debt ratio of 0.06.
Knowles (NYSE:KN- Get a rating) last released its quarterly earnings data on Tuesday, August 2. The communications equipment provider reported earnings per share of $0.25 for the quarter, beating analysts’ consensus estimate of $0.24 by $0.01. The company posted revenue of $188.00 million for the quarter, versus analyst estimates of $200.00 million. Knowles had a negative net margin of 12.20% and a positive return on equity of 9.12%. On average, equity research analysts expect Knowles to post 0.97 EPS for the current fiscal year.
Analyst upgrades and downgrades
Several research analysts have commented on KN’s actions. Roth Capital downgraded Knowles from a “buy” rating to a “neutral” rating and reduced its target price for the stock from $20.00 to $17.00 in a Wednesday, August 3, report. StockNews.com downgraded Knowles from a “buy” rating to a “hold” rating in a Thursday, August 4 research note. Four analysts gave the stock a hold rating and one gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.63.
Institutional investors weigh in on Knowles
Several hedge funds and other institutional investors have recently bought and sold shares of KN. Teacher Retirement System of Texas increased its stake in Knowles by 21.6% in the fourth quarter. Teacher Retirement System of Texas now owns 17,987 shares of the communications equipment provider worth $420,000 after acquiring 3,197 additional shares in the last quarter. Qube Research & Technologies Ltd increased its stake in Knowles shares by 103.8% during the 4th quarter. Qube Research & Technologies Ltd now owns 61,815 shares of the communications equipment supplier worth $1,443,000 after buying an additional 31,477 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Knowles shares by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,478 shares of the communications equipment provider worth $21,377,000 after purchasing an additional 22,000 shares during the period. Renaissance Technologies LLC increased its stake in Knowles shares by 49.4% during the 4th quarter. Renaissance Technologies LLC now owns 899,300 shares of the communications equipment provider worth $20,999,000 after purchasing an additional 297,226 shares during the period. Finally, MQS Management LLC acquired a new position in shares of Knowles during the 4th quarter at a value of $207,000. 99.14% of the shares are currently held by institutional investors and hedge funds.
Knowles Corporation offers micro-acoustic microphones and balanced armature loudspeakers, audio solutions, high performance capacitors and radio frequency products for the consumer electronics, medical technology, defense, vehicle markets. electricity, industry and communications. It operates in two segments, Audio and Precision Devices (PD).
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