Shares of Voxx International Corp. (NASDAQ:VOXX) saw strong trading volume on Wednesday after an insider bought additional shares in the company. 143,208 shares changed hands during mid-day trading, an increase of 52% from the previous session’s volume of 94,246 shares.The stock last traded at $2.76 and had previously closed at $2.69.
Specifically, Director Ari Shalam bought 13,333 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The stock was purchased at an average price of $2.99 per share, for a total transaction of $39,865.67. Following the purchase, the director now directly owns 7,734 shares in the company, valued at $23,124.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patrick M. Lavelle bought 16,154 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were acquired at an average price of $3.04 per share, with a total value of $49,108.16. Following the purchase, the insider now owns 55,299 shares in the company, valued at $168,108.96. The disclosure for this purchase can be found here. Corporate insiders own 17.51% of the company’s stock.
Separately, Zacks Investment Research downgraded Voxx International Corp. from a “buy” rating to a “hold” rating in a research note on Saturday, July 30th.
The stock’s market capitalization is $64.02 million. The company’s 50-day moving average is $3.03 and its 200-day moving average is $3.37.
Voxx International Corp. (NASDAQ:VOXX) last released its quarterly earnings results on Monday, July 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.08. Voxx International Corp. had a negative net margin of 0.93% and a positive return on equity of 0.78%. The firm earned $155.50 million during the quarter. During the same quarter last year, the company earned ($0.03) earnings per share. Voxx International Corp.’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities analysts expect that Voxx International Corp. will post $0.26 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in VOXX. Dimensional Fund Advisors LP increased its stake in Voxx International Corp. by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,743,430 shares of the company’s stock valued at $4,864,000 after buying an additional 12,659 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Voxx International Corp. by 95.7% in the second quarter. Oppenheimer & Co. Inc. now owns 54,800 shares of the company’s stock valued at $153,000 after buying an additional 26,800 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in Voxx International Corp. by 28.4% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 47,500 shares of the company’s stock valued at $133,000 after buying an additional 10,500 shares in the last quarter. Royce & Associates LP increased its stake in Voxx International Corp. by 13.6% in the second quarter. Royce & Associates LP now owns 1,325,427 shares of the company’s stock valued at $3,698,000 after buying an additional 158,436 shares in the last quarter. Finally, Oxford Asset Management increased its stake in Voxx International Corp. by 459.4% in the second quarter. Oxford Asset Management now owns 152,650 shares of the company’s stock valued at $426,000 after buying an additional 125,363 shares in the last quarter. 60.50% of the stock is currently owned by hedge funds and other institutional investors.
Voxx International Corp. Company Profile
VOXX International Corporation is an international manufacturer and distributor in the automotive, audio and consumer accessories industries. The Company’s segments include Automotive, Premium Audio and Consumer Accessories. The Automotive segment designs, manufactures, distributes and markets rear-seat entertainment devices, satellite radio products, remote start systems, digital television tuners, mobile antennas, mobile multimedia devices, car link-smartphone telematics application, collision avoidance systems and others.
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