Knowles Co. (NYSE:KN) Sees Large Decrease in Short Interest

Knowles Co. (NYSE:KN) saw a large drop in short interest in September. As of September 15th, there was short interest totalling 1,620,000 shares, a drop of 16.1% from the August 31st total of 1,930,000 shares. Based on an average daily volume of 637,800 shares, the short-interest ratio is presently 2.5 days. Currently, 1.9% of the shares of the stock are short sold.

Insider Activity

In other news, CFO John S. Anderson sold 10,444 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $18.50, for a total transaction of $193,214.00. Following the completion of the transaction, the chief financial officer now directly owns 211,200 shares in the company, valued at $3,907,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO John S. Anderson sold 10,444 shares of Knowles stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $18.50, for a total transaction of $193,214.00. Following the sale, the chief financial officer now directly owns 211,200 shares of the company’s stock, valued at $3,907,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cheryl L. Shavers sold 12,579 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $17.29, for a total value of $217,490.91. Following the completion of the transaction, the director now directly owns 48,933 shares of the company’s stock, valued at approximately $846,051.57. The disclosure for this sale can be found here. 2.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Knowles

Several large investors have recently added to or reduced their stakes in KN. Quest Partners LLC acquired a new stake in Knowles in the second quarter worth $30,000. Quarry LP bought a new position in shares of Knowles during the 2nd quarter worth about $39,000. Parallel Advisors LLC grew its stake in shares of Knowles by 217.0% in the 4th quarter. Parallel Advisors LLC now owns 2,311 shares of the communications equipment provider’s stock valued at $41,000 after buying an additional 1,582 shares during the period. Innealta Capital LLC bought a new stake in Knowles in the 2nd quarter valued at about $46,000. Finally, CWM LLC raised its stake in Knowles by 38.0% during the 2nd quarter. CWM LLC now owns 3,036 shares of the communications equipment provider’s stock worth $52,000 after buying an additional 836 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Knowles Price Performance

Shares of KN opened at $18.04 on Monday. The business has a 50-day moving average of $17.64 and a 200-day moving average of $17.10. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.36 and a quick ratio of 1.30. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 20.50 and a beta of 1.42. Knowles has a 1 year low of $12.78 and a 1 year high of $19.73.

Knowles (NYSE:KN) last issued its quarterly earnings results on Wednesday, July 31st. The communications equipment provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.16). Knowles had a negative net margin of 24.36% and a positive return on equity of 5.39%. The firm had revenue of $204.70 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Susquehanna lifted their price target on shares of Knowles from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th.

About Knowles

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).