Knoll Inc (NYSE:KNL) Short Interest Up 19.1% in October

Knoll Inc (NYSE:KNL) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 642,900 shares, an increase of 19.1% from the September 30th total of 539,900 shares. Based on an average daily trading volume, of 222,700 shares, the short-interest ratio is currently 2.9 days. Approximately 1.3% of the shares of the company are short sold.

Several brokerages have commented on KNL. Zacks Investment Research raised shares of Knoll from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. ValuEngine raised shares of Knoll from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Raymond James downgraded shares of Knoll from a “strong-buy” rating to an “outperform” rating and set a $28.00 price target for the company. in a report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $28.33.

Shares of NYSE KNL traded up $0.14 during mid-day trading on Thursday, reaching $27.37. 180,020 shares of the company were exchanged, compared to its average volume of 249,466. Knoll has a 52 week low of $15.72 and a 52 week high of $27.84. The company has a quick ratio of 0.53, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $1.34 billion, a PE ratio of 14.79 and a beta of 1.42. The company’s 50 day moving average price is $25.76 and its 200 day moving average price is $23.34.

Knoll (NYSE:KNL) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Knoll had a net margin of 5.79% and a return on equity of 25.03%. The company had revenue of $356.50 million during the quarter, compared to the consensus estimate of $352.77 million. During the same period in the previous year, the firm posted $0.48 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts predict that Knoll will post 2.1 earnings per share for the current year.

In other Knoll news, CEO Andrew B. Cogan sold 79,126 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $26.26, for a total value of $2,077,848.76. Following the completion of the transaction, the chief executive officer now directly owns 439,587 shares of the company’s stock, valued at approximately $11,543,554.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP David L. Schutte sold 5,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $26.50, for a total transaction of $132,500.00. Following the completion of the transaction, the executive vice president now directly owns 48,424 shares of the company’s stock, valued at $1,283,236. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 123,138 shares of company stock valued at $3,272,551. 1.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of KNL. Bank of Montreal Can lifted its holdings in shares of Knoll by 633.1% during the 2nd quarter. Bank of Montreal Can now owns 4,743 shares of the business services provider’s stock worth $109,000 after acquiring an additional 4,096 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Knoll by 795.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 9,086 shares of the business services provider’s stock worth $208,000 after acquiring an additional 8,071 shares during the last quarter. OLD National Bancorp IN bought a new stake in shares of Knoll during the 3rd quarter worth $209,000. Janney Montgomery Scott LLC bought a new stake in shares of Knoll during the 2nd quarter worth $213,000. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Knoll during the 2nd quarter worth $216,000. 90.89% of the stock is owned by institutional investors.

Knoll Company Profile

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.

Further Reading: 52-Week High/Low

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