MillerKnoll, Inc. (NASDAQ:MLKN) Sees Significant Growth in Short Interest

Posted by Defense World Staff on Aug 1st, 2023

MillerKnoll, Inc. (NASDAQ:MLKN – Get Free Report) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 3,320,000 shares, an increase of 16.5% from the June 30th total of 2,850,000 shares. Currently, 4.4% of the shares of the stock are short sold. Based on an average trading volume of 842,200 shares, the days-to-cover ratio is presently 3.9 days.

MillerKnoll Stock Performance

NASDAQ MLKN opened at $19.57 on Tuesday. The business’s 50-day simple moving average is $15.55 and its 200-day simple moving average is $18.80. The firm has a market capitalization of $1.48 billion, a P/E ratio of 34.95, a P/E/G ratio of 0.90 and a beta of 1.42. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.67 and a quick ratio of 0.98. MillerKnoll has a 1-year low of $13.20 and a 1-year high of $33.46.

MillerKnoll (NASDAQ:MLKN – Get Free Report) last posted its quarterly earnings data on Wednesday, July 12th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. MillerKnoll had a return on equity of 9.87% and a net margin of 1.03%. The company had revenue of $956.70 million for the quarter, compared to the consensus estimate of $945.60 million. During the same period in the previous year, the business earned $0.58 EPS. MillerKnoll’s revenue for the quarter was down 13.1% compared to the same quarter last year. Equities analysts predict that MillerKnoll will post 1.8 EPS for the current year.

Insider Buying and Selling at MillerKnoll

In other news, Director Michael A. Volkema purchased 13,584 shares of the company’s stock in a transaction dated Tuesday, July 18th. The stock was acquired at an average price of $16.95 per share, for a total transaction of $230,248.80. Following the completion of the transaction, the director now directly owns 200,670 shares in the company, valued at approximately $3,401,356.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other MillerKnoll news, Director Michael A. Volkema purchased 13,584 shares of the stock in a transaction on Tuesday, July 18th. The stock was bought at an average price of $16.95 per share, for a total transaction of $230,248.80. Following the acquisition, the director now directly owns 200,670 shares of the company’s stock, valued at $3,401,356.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael A. Volkema purchased 60,200 shares of the stock in a transaction on Wednesday, May 3rd. The stock was acquired at an average price of $16.61 per share, with a total value of $999,922.00. Following the acquisition, the director now directly owns 187,086 shares in the company, valued at $3,107,498.46. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 80,194 shares of company stock valued at $1,330,167. 1.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Ronald Blue Trust Inc. boosted its position in MillerKnoll by 222.1% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,694 shares of the company’s stock worth $26,000 after acquiring an additional 1,168 shares during the period. US Bancorp DE purchased a new position in shares of MillerKnoll in the first quarter worth approximately $36,000. Captrust Financial Advisors increased its position in shares of MillerKnoll by 31.3% in the second quarter. Captrust Financial Advisors now owns 1,551 shares of the company’s stock worth $41,000 after acquiring an additional 370 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of MillerKnoll by 428.8% in the first quarter. Tower Research Capital LLC TRC now owns 2,168 shares of the company’s stock worth $44,000 after acquiring an additional 1,758 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of MillerKnoll during the first quarter worth approximately $58,000. 92.06% of the stock is currently owned by institutional investors.

About MillerKnoll

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MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. The company operates in four segments: Americas Contract, International Contract, Global Retail, and Knoll. It offers office furniture products under the Aeron, Mirra, Sayl, Embody, Layout Studio, Imagine Desking System, Ratio, Cosm, Tone, and Generation by Knoll names; and other seating and storage products and ergonomic accessories under the About A Chair, Palissade, Eero Saarinen designs, Barcelona, and the Flo monitor arm names.