MillerKnoll, Inc. (NASDAQ:MLKN) Short Interest Update

by · The Markets Daily

MillerKnoll, Inc. (NASDAQ:MLKN – Get Free Report) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 2,330,000 shares, a growth of 18.3% from the August 15th total of 1,970,000 shares. Based on an average trading volume of 454,800 shares, the days-to-cover ratio is presently 5.1 days. Approximately 3.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its holdings in MillerKnoll by 46.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,537 shares of the company’s stock valued at $41,000 after purchasing an additional 488 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of MillerKnoll by 100.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,140 shares of the company’s stock valued at $30,000 after buying an additional 570 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in MillerKnoll by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 44,779 shares of the company’s stock worth $1,186,000 after acquiring an additional 580 shares during the period. Oliver Luxxe Assets LLC raised its position in MillerKnoll by 1.9% in the first quarter. Oliver Luxxe Assets LLC now owns 35,724 shares of the company’s stock worth $885,000 after acquiring an additional 665 shares in the last quarter. Finally, Bridge City Capital LLC lifted its holdings in MillerKnoll by 0.8% in the first quarter. Bridge City Capital LLC now owns 91,676 shares of the company’s stock valued at $2,270,000 after acquiring an additional 693 shares during the period. 87.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of MillerKnoll from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 3rd.

Check Out Our Latest Research Report on MLKN

MillerKnoll Stock Performance

Shares of NASDAQ MLKN traded up $0.24 during midday trading on Tuesday, reaching $27.43. 425,363 shares of the company were exchanged, compared to its average volume of 617,664. The stock has a market cap of $1.97 billion, a P/E ratio of 24.71, a PEG ratio of 0.99 and a beta of 1.18. MillerKnoll has a 1 year low of $18.00 and a 1 year high of $31.73. The stock has a fifty day simple moving average of $28.48 and a 200 day simple moving average of $27.51. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.93.

MillerKnoll (NASDAQ:MLKN – Get Free Report) last announced its earnings results on Wednesday, June 26th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.13. MillerKnoll had a return on equity of 10.94% and a net margin of 2.27%. The company had revenue of $888.90 million for the quarter, compared to the consensus estimate of $898.65 million. During the same period last year, the business posted $0.41 EPS. The company’s revenue was down 7.1% on a year-over-year basis. On average, research analysts forecast that MillerKnoll will post 2.21 earnings per share for the current fiscal year.

MillerKnoll Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Saturday, August 31st will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, August 30th. MillerKnoll’s payout ratio is 67.57%.

MillerKnoll Company Profile

(Get Free Report)

MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through three segments: Americas Contract, International Contract & Specialty, and Global Retail. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions.

See Also