Systematic Financial Management LP reduced its holdings in KVH Industries, Inc. (NASDAQ: KVHI) by 5.3% in the first quarter, according to its recent filing with the Securities and Exchange Commission (SEC). The firm sold 96,149 shares during the quarter, leaving it with a total of 1,727,097 shares. This represents approximately 8.86% of KVH Industries’ total worth, which amounts to $19,654,000.

Other institutional investors and hedge funds have also made changes to their stock holdings in KVH Industries. Bank of America Corp DE increased its position by 38.3% during the first quarter, now owning 6,665 shares of the company’s stock worth $76,000. Man Group plc purchased a new position in the fourth quarter, acquiring shares worth $110,000. Canandaigua National Bank & Trust Co. and Price T Rowe Associates Inc. MD also bought new positions in the first and second quarters, respectively.

Wall Street analysts have commented on KVH Industries, with Needham & Company LLC lowering its price objective on the stock from $13.00 to $9.00 and giving it a “buy” rating. TheStreet also downgraded KVH Industries from a “c” rating to a “d+” rating.

Currently, KVH Industries is trading at $5.29 per share. The company has a market cap of $103.37 million, a PE ratio of 3.20, and a beta of 0.65. Its 50-day moving average is $7.30, while its 200-day moving average is $9.16.

KVH Industries, Inc. designs, develops, manufactures, and markets mobile connectivity products and services for the marine and land mobile markets in the United States and internationally. The company offers various products, including satellite television systems, communication terminals, and data management software for maritime communications.