King Luther Capital Management Corp Invests $3.75 Million in K2M Group Holdings, Inc. (KTWO)

King Luther Capital Management Corp bought a new stake in K2M Group Holdings, Inc. (NASDAQ:KTWO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 154,120 shares of the medical device company’s stock, valued at approximately $3,754,000. King Luther Capital Management Corp owned 0.36% of K2M Group Holdings at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its position in shares of K2M Group Holdings by 5,175.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,484 shares of the medical device company’s stock valued at $109,000 after acquiring an additional 4,399 shares during the period. Legal & General Group Plc increased its position in shares of K2M Group Holdings by 9.1% in the 1st quarter. Legal & General Group Plc now owns 6,763 shares of the medical device company’s stock valued at $138,000 after acquiring an additional 564 shares during the period. Dorsey & Whitney Trust CO LLC acquired a new position in shares of K2M Group Holdings in the 2nd quarter valued at $211,000. Trexquant Investment LP acquired a new position in shares of K2M Group Holdings in the 1st quarter valued at $250,000. Finally, 1st Global Advisors Inc. increased its position in shares of K2M Group Holdings by 2.9% in the 1st quarter. 1st Global Advisors Inc. now owns 13,101 shares of the medical device company’s stock valued at $269,000 after acquiring an additional 369 shares during the period. 97.77% of the stock is currently owned by hedge funds and other institutional investors.

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Several research firms recently issued reports on KTWO. Cowen and Company set a $28.00 target price on K2M Group Holdings and gave the company a “buy” rating in a research report on Thursday, August 17th. Needham & Company LLC reaffirmed a “buy” rating on shares of K2M Group Holdings in a report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. set a $29.00 price target on shares of K2M Group Holdings and gave the company a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised shares of K2M Group Holdings from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Finally, BidaskClub lowered shares of K2M Group Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. K2M Group Holdings has a consensus rating of “Buy” and an average target price of $27.14.

Shares of K2M Group Holdings, Inc. (NASDAQ:KTWO) opened at 20.66 on Friday. The stock’s market capitalization is $893.92 million. K2M Group Holdings, Inc. has a 12-month low of $16.32 and a 12-month high of $25.99. The firm has a 50-day moving average of $23.15 and a 200 day moving average of $22.35.

K2M Group Holdings (NASDAQ:KTWO) last posted its quarterly earnings data on Tuesday, August 1st. The medical device company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. The company had revenue of $65.70 million for the quarter, compared to analyst estimates of $66.26 million. K2M Group Holdings had a negative net margin of 16.21% and a negative return on equity of 15.45%. K2M Group Holdings’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.27) earnings per share. Equities analysts forecast that K2M Group Holdings, Inc. will post ($0.78) earnings per share for the current fiscal year.

In other news, insider John Philip Md Kostuik sold 1,090 shares of K2M Group Holdings stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $24.08, for a total value of $26,247.20. Following the sale, the insider now owns 201,961 shares of the company’s stock, valued at $4,863,220.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gregory S. Cole sold 2,350 shares of K2M Group Holdings stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $24.08, for a total transaction of $56,588.00. Following the completion of the sale, the chief financial officer now directly owns 55,158 shares in the company, valued at approximately $1,328,204.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,085 shares of company stock worth $1,056,903. 5.80% of the stock is currently owned by company insiders.

K2M Group Holdings Profile

K2M Group Holdings, Inc is a medical device company focused on designing, developing and commercializing spine and minimally invasive technologies and techniques. The Company’s solutions are focused on achieving three-dimensional Total Body Balance. Its spine products are used by spine surgeons to treat spinal pathologies, such as deformity (primarily scoliosis), trauma and tumor.

Institutional Ownership by Quarter for K2M Group Holdings (NASDAQ:KTWO)

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