Kalos Management Lowers stake in Harman International Industries /DE/ (HAR)

Harman International Industries /DE/ (HAR) : Kalos Management reduced its stake in Harman International Industries /DE/ by 2.51% during the most recent quarter end. The investment management company now holds a total of 7,702 shares of Harman International Industries /DE/ which is valued at $629,947 after selling 198 shares in Harman International Industries /DE/ , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Harman International Industries /DE/ makes up approximately 0.47% of Kalos Management’s portfolio.

Other Hedge Funds, Including , Edinburgh Partners Ltd reduced its stake in HAR by selling 155,072 shares or 17.28% in the most recent quarter. The Hedge Fund company now holds 742,455 shares of HAR which is valued at $60,725,394. Harman International Industries /DE/ makes up approx 8.53% of Edinburgh Partners Ltd’s portfolio.Miller Howard Investments Inc Ny reduced its stake in HAR by selling 335 shares or 0.74% in the most recent quarter. The Hedge Fund company now holds 44,636 shares of HAR which is valued at $3,558,382. Harman International Industries /DE/ makes up approx 0.06% of Miller Howard Investments Inc Ny’s portfolio. Donald L. Hagan sold out all of its stake in HAR during the most recent quarter. The investment firm sold 164 shares of HAR which is valued $13,074.Mazama Capital Management Inc boosted its stake in HAR in the latest quarter, The investment management firm added 1,680 additional shares and now holds a total of 9,704 shares of Harman International Industries /DE/ which is valued at $715,670. Harman International Industries /DE/ makes up approx 0.14% of Mazama Capital Management Inc’s portfolio.

Harman International Industries /DE/ opened for trading at $86.01 and hit $90.81 on the upside on Thursday, eventually ending the session at $87.54, with a gain of 7.03% or 5.75 points. The heightened volatility saw the trading volume jump to 29,58,567 shares. Company has a market cap of $6,176 M.

On the company’s financial health, Harman International Industries /DE/ reported $1.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $1.52. The company had revenue of $1881.00 million for the quarter, compared to analysts expectations of $1788.93 million. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 EPS.

Many Wall Street Analysts have commented on Harman International Industries /DE/. Harman International Industries /DE/ was Downgraded by Pacific Crest to ” Sector Weight” on Jul 22, 2016. Deutsche Bank Initiated Harman International Industries /DE/ on Jul 20, 2016 to “Buy”, Price Target of the shares are set at $94.Harman International Industries /DE/ was Initiated by Northcoast to “Buy” on Jun 14, 2016.

Harman International Industries Incorporated is engaged in the designing and engineering of connected products and solutions for automakers consumers and enterprises including audio systems visual products enterprise automation solutions and connected services. The Company operates through four segments. The Infotainment segment offers infotainment systems for vehicle applications. The Lifestyle segment offers car audio systems for vehicle applications as well as a range of loudspeaker and electronics for home multimedia and mobile applications. The Professional segment provides audio lighting video and control and automation solutions for commercial enterprise and public space applications. The Services segment creates software solutions that integrate design mobility cloud and analytics. Its brands include AKG AMX Crown Harman/Kardon Infinity JBL JBL Professional Lexicon Mark Levinson Martin Revel Soundcraft and Studer.

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