Needham Investment Management LLC Sells 100,000 Shares of KVH Industries, Inc. (NASDAQ:KVHI)

Needham Investment Management LLC reduced its position in KVH Industries, Inc. (NASDAQ:KVHI) by 7.2% in the 3rd quarter, Holdings Channel reports. The firm owned 1,291,600 shares of the communications equipment provider’s stock after selling 100,000 shares during the quarter. Needham Investment Management LLC owned about 0.07% of KVH Industries worth $6,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in KVH Industries by 0.7% during the first quarter. Vanguard Group Inc. now owns 962,968 shares of the communications equipment provider’s stock worth $4,911,000 after acquiring an additional 6,382 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in KVH Industries during the second quarter worth $30,000. AQR Capital Management LLC acquired a new position in KVH Industries during the second quarter worth $63,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in KVH Industries during the second quarter worth $130,000. Finally, American Century Companies Inc. acquired a new position in KVH Industries during the second quarter worth $54,000. 73.66% of the stock is currently owned by institutional investors and hedge funds.

KVH Industries Stock Performance

Shares of NASDAQ:KVHI traded up $0.10 during midday trading on Tuesday, reaching $5.85. The company’s stock had a trading volume of 33,993 shares, compared to its average volume of 81,963. KVH Industries, Inc. has a fifty-two week low of $4.17 and a fifty-two week high of $5.89. The business’s fifty day simple moving average is $4.90 and its 200-day simple moving average is $4.75.

Insider Activity

In other KVH Industries news, major shareholder Bradley Louis Radoff bought 30,088 shares of the stock in a transaction dated Wednesday, September 4th. The stock was bought at an average cost of $4.63 per share, for a total transaction of $139,307.44. Following the completion of the purchase, the insider now owns 295,088 shares in the company, valued at $1,366,257.44. This represents a 11.35 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen H. Deckoff acquired 50,200 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average price of $4.47 per share, with a total value of $224,394.00. Following the completion of the transaction, the director now owns 3,357,398 shares of the company’s stock, valued at approximately $15,007,569.06. This trade represents a 1.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 97,787 shares of company stock worth $445,422. 20.70% of the stock is owned by corporate insiders.

KVH Industries Company Profile

KVH Industries, Inc, together with its subsidiaries, engages in the design, development, manufacture, and marketing of mobile connectivity solutions for the marine and land mobile markets in the United States and internationally. The company offers Internet and VoIP airtime services; AgilePlans, a Connectivity as a Service solution; KVH Link, a crew wellbeing content subscription service with delivery by IP-Mobilecast; and OpenNet, a KVH VSAT data delivering service for non-KVH Ku-band VSAT terminals.