Short Interest in Kimball International Inc (NASDAQ:KBAL) Rises By 50.8%

Kimball International Inc (NASDAQ:KBAL) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 241,500 shares, an increase of 50.8% from the May 30th total of 160,100 shares. Based on an average trading volume of 106,700 shares, the short-interest ratio is presently 2.3 days. Approximately 0.7% of the shares of the company are sold short.

NASDAQ KBAL traded down $0.26 on Thursday, hitting $17.20. 63,400 shares of the company’s stock were exchanged, compared to its average volume of 114,389. The firm has a 50-day moving average price of $16.50. Kimball International has a fifty-two week low of $13.49 and a fifty-two week high of $18.14. The stock has a market cap of $623.16 million, a price-to-earnings ratio of 15.71 and a beta of 0.95.

Kimball International (NASDAQ:KBAL) last released its earnings results on Tuesday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter. Kimball International had a return on equity of 19.93% and a net margin of 5.08%. The company had revenue of $177.37 million for the quarter.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, June 25th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.86%. The ex-dividend date is Monday, June 24th.

Separately, BidaskClub raised Zynga from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Founders Capital Management acquired a new position in Kimball International during the 1st quarter worth approximately $28,000. Legal & General Group Plc increased its position in Kimball International by 21.4% during the 4th quarter. Legal & General Group Plc now owns 6,773 shares of the company’s stock worth $97,000 after purchasing an additional 1,194 shares during the period. BNP Paribas Arbitrage SA increased its position in Kimball International by 5,321.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,481 shares of the company’s stock worth $106,000 after purchasing an additional 7,343 shares during the period. SG Americas Securities LLC acquired a new position in Kimball International during the 1st quarter worth approximately $117,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Kimball International during the 2nd quarter worth approximately $185,000. Institutional investors own 63.84% of the company’s stock.

About Kimball International

Kimball International, Inc designs, manufactures, and sells furniture products under the Kimball, National, and Kimball Hospitality brands in the United States and internationally. The company offers office furniture, including desks, tables, seating, bookcases, and filing and storage units for federal, state, and local government offices, as well as other government related entities; and furniture solutions, such as headboards, tables, seating, vanities, casegoods, lighting, and other products for hotel properties, and commercial and residential mixed use developments.

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