Knoll Inc (NYSE:KNL) Short Interest Up 50.6% in June

Knoll Inc (NYSE:KNL) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totalling 1,310,000 shares, a growth of 50.6% from the June 15th total of 869,600 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average trading volume of 538,500 shares, the short-interest ratio is currently 2.4 days.

KNL has been the topic of several research reports. TheStreet cut Knoll from a “b-” rating to a “c+” rating in a report on Tuesday, March 10th. Sidoti upped their target price on Knoll from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Knoll presently has a consensus rating of “Hold” and an average target price of $22.67.

KNL traded down $0.61 during midday trading on Tuesday, hitting $11.16. 13,377 shares of the company were exchanged, compared to its average volume of 616,942. The company’s 50 day simple moving average is $11.79 and its 200 day simple moving average is $16.31. The firm has a market capitalization of $582.95 million, a price-to-earnings ratio of 9.35 and a beta of 1.85. The company has a current ratio of 1.78, a quick ratio of 1.04 and a debt-to-equity ratio of 1.46. Knoll has a 1-year low of $7.74 and a 1-year high of $28.30.

Knoll (NYSE:KNL) last announced its quarterly earnings results on Monday, April 27th. The business services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. Knoll had a return on equity of 23.47% and a net margin of 4.21%. The company had revenue of $340.00 million for the quarter.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Friday, June 12th.

Institutional investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. purchased a new position in Knoll in the 1st quarter worth approximately $31,000. Great West Life Assurance Co. Can acquired a new stake in shares of Knoll during the 4th quarter worth approximately $99,000. Point72 Hong Kong Ltd acquired a new stake in shares of Knoll during the 4th quarter worth approximately $103,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Knoll by 70.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,580 shares of the business services provider’s stock worth $47,000 after buying an additional 1,899 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Knoll by 58.8% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 5,220 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 1,932 shares during the last quarter. 86.73% of the stock is currently owned by hedge funds and other institutional investors.

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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