Bailard Inc. Sells 5,800 Shares of Knoll Inc (NYSE:KNL)

Bailard Inc. lessened its holdings in shares of Knoll Inc (NYSE:KNL) by 27.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,700 shares of the business services provider’s stock after selling 5,800 shares during the period. Bailard Inc.’s holdings in Knoll were worth $398,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Bank of Montreal Can boosted its stake in Knoll by 633.1% in the 2nd quarter. Bank of Montreal Can now owns 4,743 shares of the business services provider’s stock worth $109,000 after purchasing an additional 4,096 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in Knoll by 795.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 9,086 shares of the business services provider’s stock worth $208,000 after purchasing an additional 8,071 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Knoll in the 2nd quarter worth about $213,000. Xact Kapitalforvaltning AB bought a new position in Knoll in the 2nd quarter worth about $216,000. Finally, Aperio Group LLC bought a new position in Knoll in the 2nd quarter worth about $232,000. Hedge funds and other institutional investors own 90.32% of the company’s stock.

In other news, CEO Andrew B. Cogan sold 4,305 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $25.00, for a total transaction of $107,625.00. Following the completion of the sale, the chief executive officer now owns 528,713 shares of the company’s stock, valued at approximately $13,217,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David L. Schutte sold 5,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $24.84, for a total transaction of $124,200.00. Following the sale, the executive vice president now directly owns 58,424 shares of the company’s stock, valued at approximately $1,451,252.16. The disclosure for this sale can be found here. Insiders have sold a total of 19,305 shares of company stock worth $464,625 in the last 90 days. Company insiders own 1.60% of the company’s stock.

A number of brokerages recently issued reports on KNL. Zacks Investment Research cut shares of Knoll from a “hold” rating to a “sell” rating in a research note on Tuesday. Raymond James cut shares of Knoll from a “strong-buy” rating to an “outperform” rating and set a $28.00 target price on the stock. in a research note on Monday, October 7th. Finally, ValuEngine cut shares of Knoll from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. Knoll has an average rating of “Hold” and a consensus target price of $28.33.

KNL opened at $26.33 on Wednesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.53 and a current ratio of 1.15. The stock has a market capitalization of $1.27 billion, a P/E ratio of 14.23 and a beta of 1.45. The company’s 50-day simple moving average is $24.69 and its two-hundred day simple moving average is $22.55. Knoll Inc has a 52-week low of $15.72 and a 52-week high of $26.46.

Knoll (NYSE:KNL) last posted its earnings results on Wednesday, July 24th. The business services provider reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The business had revenue of $367.30 million for the quarter, compared to analysts’ expectations of $339.13 million. Knoll had a net margin of 6.11% and a return on equity of 24.27%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. Research analysts forecast that Knoll Inc will post 2.04 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.58%. The ex-dividend date was Friday, September 13th. Knoll’s dividend payout ratio is currently 36.76%.

About Knoll

Knoll, Inc, together with its subsidiaries, designs, manufactures, markets, and sells commercial and residential furniture, accessories, and coverings for the workplace and residential markets in the United States, Canada, Europe, and internationally. The company operates through Office and Lifestyle segments.

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Institutional Ownership by Quarter for Knoll (NYSE:KNL)

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