VOXX International (NASDAQ:VOXX) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of VOXX International (NASDAQ:VOXX) from a hold rating to a sell rating in a report issued on Thursday morning.

VOXX International Stock Performance

VOXX opened at $5.91 on Thursday. The stock has a market capitalization of $132.86 million, a price-to-earnings ratio of -3.52 and a beta of 1.25. The company has a fifty day moving average of $3.47 and a 200 day moving average of $5.02. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 2.43. VOXX International has a fifty-two week low of $2.27 and a fifty-two week high of $11.74.

VOXX International (NASDAQ:VOXX) last announced its earnings results on Wednesday, July 10th. The auto parts company reported ($0.40) earnings per share for the quarter. VOXX International had a negative net margin of 8.78% and a negative return on equity of 14.59%. The firm had revenue of $91.66 million during the quarter.

Insider Activity

In other VOXX International news, major shareholder Corp Gentex acquired 3,152,500 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the purchase, the insider now owns 6,463,808 shares in the company, valued at approximately $32,319,040. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other VOXX International news, major shareholder Corp Gentex bought 3,152,500 shares of VOXX International stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the purchase, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Beat Kahli sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $5.00, for a total value of $100,000.00. The disclosure for this sale can be found here. Corporate insiders own 49.81% of the company’s stock.

Hedge Funds Weigh In On VOXX International

Several hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in VOXX International during the 2nd quarter worth about $44,000. BNP Paribas Financial Markets boosted its holdings in shares of VOXX International by 72.7% in the first quarter. BNP Paribas Financial Markets now owns 5,588 shares of the auto parts company’s stock valued at $46,000 after acquiring an additional 2,353 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in VOXX International during the second quarter worth about $63,000. Marshall Wace LLP acquired a new position in VOXX International during the second quarter worth about $67,000. Finally, Squarepoint Ops LLC acquired a new position in VOXX International during the second quarter worth about $130,000. Institutional investors and hedge funds own 71.00% of the company’s stock.

About VOXX International

VOXX International Corporation manufactures and distributes automotive electronics, consumer electronics, and biometric products in the United States, Europe, and internationally. Its Automotive Electronics segment offers mobile multi-media infotainment products, including overhead, seat-back, and headrest systems; automotive security, vehicle access, and remote start systems; satellite radios comprising plug and play, and direct connect models; smart phone telematics applications; mobile interface modules; automotive power accessories; rear observation and collision avoidance systems; driver distraction products; power lift gates; turn signal switches; automotive lighting products; automotive sensing and camera systems; USB ports; cruise control systems; and heated seats.