In a recent transaction, Keith Barnes, a director at Knowles Corp (NYSE:KN), a company specializing in household audio and video equipment, sold 5,186 shares of company stock. The shares were sold at a price of $17.45 each, totaling approximately $90,495.
The transaction took place on May 31, 2024, as reported in the latest SEC filings. Following the sale, Barnes retains ownership of 92,917 shares in Knowles Corp. This move by a high-ranking member of the company's board is of particular interest to investors, as director-level transactions can often provide insights into the company's performance and the confidence levels of its leaders.
Knowles Corp, headquartered in Itasca, Illinois, is known for its contributions to the audio sector, with a focus on manufacturing high-quality audio components and solutions. The company trades under the ticker symbol KN on the New York Stock Exchange.
Investors and market analysts often monitor the buying and selling activities of company insiders to gain a better understanding of the company's prospects and the sentiment of its leadership regarding the stock's value. The sale by Barnes represents a significant transfer of stock and is a noteworthy event for those closely following the company's financial developments.
The details of the transaction, including the number of shares sold and the total value, are publicly accessible through SEC filings, which provide transparency and ongoing updates on insider transactions for all publicly traded companies.
InvestingPro Insights
Amidst the recent transaction by Keith Barnes, a director at Knowles Corp, market participants may find the following insights from InvestingPro particularly enlightening. Knowles Corp is currently trading at a P/E ratio of 19.83, which suggests that the stock is valued attractively relative to its near-term earnings growth. This is further supported by a PEG ratio of just 0.17 for the last twelve months as of Q1 2024, indicating potential undervaluation when factoring in growth.
Investors may also take comfort in the company's financial stability, as indicated by the fact that Knowles Corp's liquid assets surpass its short-term obligations. This financial health, coupled with a gross profit margin of 38.4% over the same period, showcases the company's ability to maintain profitability despite market fluctuations.
Moreover, with three analysts having revised their earnings upwards for the upcoming period and the stock trading near its 52-week high, at 94.81% of this threshold, there seems to be a positive outlook on the company's performance. Additionally, the company's stock generally trades with low price volatility, which might appeal to investors seeking stable investment opportunities.
For those looking for more in-depth analysis, there are 7 additional InvestingPro Tips available for Knowles Corp at https://www.investing.com/pro/KN. To access these tips and take advantage of the full suite of features offered by InvestingPro, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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