Knoll, Inc. (KNL) Shares Bought by Highbridge Capital Management LLC
Highbridge Capital Management LLC lifted its holdings in shares of Knoll, Inc. (NYSE:KNL) by 45.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 24,538 shares of the business services provider’s stock after purchasing an additional 7,622 shares during the period. Highbridge Capital Management LLC’s holdings in Knoll were worth $491,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. FMR LLC boosted its holdings in Knoll by 28.1% in the second quarter. FMR LLC now owns 4,036,259 shares of the business services provider’s stock valued at $80,927,000 after acquiring an additional 884,982 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Knoll by 121.0% in the second quarter. Alliancebernstein L.P. now owns 1,406,649 shares of the business services provider’s stock valued at $28,203,000 after acquiring an additional 770,256 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Knoll by 29.5% during the third quarter. Macquarie Group Ltd. now owns 1,795,464 shares of the business services provider’s stock worth $35,909,000 after buying an additional 409,142 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Knoll by 36.8% during the second quarter. Voya Investment Management LLC now owns 1,382,277 shares of the business services provider’s stock worth $27,714,000 after buying an additional 372,058 shares during the last quarter. Finally, Marshall Wace North America L.P. boosted its holdings in Knoll by 397.8% during the second quarter. Marshall Wace North America L.P. now owns 457,318 shares of the business services provider’s stock worth $9,146,000 after buying an additional 365,444 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.
A number of equities analysts have issued reports on KNL shares. TheStreet upgraded Knoll from a “c+” rating to a “b-” rating in a report on Friday, November 17th. Zacks Investment Research upgraded Knoll from a “strong sell” rating to a “hold” rating in a report on Monday, October 2nd. Raymond James Financial upgraded Knoll from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Monday, August 28th. Finally, UBS upgraded Knoll from a “market perform” rating to an “outperform” rating in a report on Monday, August 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $24.00.
Knoll (NYSE:KNL) last released its quarterly earnings results on Monday, October 23rd. The business services provider reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.04. The company had revenue of $291.26 million for the quarter, compared to analyst estimates of $277.40 million. Knoll had a return on equity of 23.26% and a net margin of 6.58%. Knoll’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. analysts anticipate that Knoll, Inc. will post 1.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Thursday, December 14th. Knoll’s dividend payout ratio is currently 42.86%.
Knoll, Inc is a manufacturer of commercial and residential furniture, accessories and coverings. The Company operates through three segments: Office, Studio and Coverings. The Office segment includes a range of workplace products that address workplace planning paradigms. These products include systems furniture, seating, storage, tables, desks and KnollExtra accessories, as well as the international sales of its North American Office products.
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