Knoll, Inc. (NYSE:KNL) was the target of a significant drop in short interest in the month of October. As of October 13th, there was short interest totalling 493,683 shares, a drop of 46.3% from the September 29th total of 919,484 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average trading volume of 362,872 shares, the days-to-cover ratio is currently 1.4 days.

A number of equities research analysts have commented on KNL shares. Zacks Investment Research cut Knoll from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 1st. Sidoti started coverage on Knoll in a report on Wednesday, August 16th. They set a “buy” rating and a $28.00 price target on the stock. UBS AG raised Knoll from a “market perform” rating to an “outperform” rating in a report on Monday, August 28th. Raymond James Financial, Inc. raised Knoll from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a report on Monday, August 28th. Finally, TheStreet cut Knoll from a “b-” rating to a “c+” rating in a report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Knoll currently has a consensus rating of “Buy” and an average target price of $25.00.

Knoll (NYSE:KNL) last issued its quarterly earnings data on Monday, October 23rd. The business services provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The business had revenue of $291.26 million during the quarter, compared to the consensus estimate of $277.40 million. Knoll had a net margin of 6.21% and a return on equity of 22.41%. The company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 earnings per share.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Knoll by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 5,092,124 shares of the business services provider’s stock worth $121,243,000 after purchasing an additional 611,172 shares during the last quarter. FMR LLC raised its position in shares of Knoll by 28.1% during the 2nd quarter. FMR LLC now owns 4,036,259 shares of the business services provider’s stock worth $80,927,000 after purchasing an additional 884,982 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Knoll by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,924,043 shares of the business services provider’s stock worth $38,578,000 after purchasing an additional 14,427 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Knoll by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,846,492 shares of the business services provider’s stock worth $37,022,000 after purchasing an additional 81,825 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Knoll by 121.0% during the 2nd quarter. Alliancebernstein L.P. now owns 1,406,649 shares of the business services provider’s stock worth $28,203,000 after purchasing an additional 770,256 shares during the last quarter. Hedge funds and other institutional investors own 90.83% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This report was first published by Watch List News and is the property of of Watch List News. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international trademark & copyright legislation. The correct version of this report can be viewed at https://www.watchlistnews.com/knoll-inc-knl-short-interest-down-46-3-in-october/1674443.html.

About Knoll

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.

Receive News & Ratings for Knoll Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Knoll Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.