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

Key Points

• Short interest jumped 21.9% in March to 2,457,868 shares (about 3.8% of shares short) with a days-to-cover ratio of 1.8, indicating increased bearish positioning in MLKN.
• Several institutions boosted holdings — notably Jane Street increased its stake by 311.8% (+313,684 shares) — and institutional investors now own about 87.5% of the company.
• MillerKnoll missed Q1 estimates (EPS $0.43 vs. $0.45 expected; revenue $926.6M vs. $941.95M) and faces mixed analyst views, leaving a MarketBeat consensus rating of "Reduce."

MillerKnoll, Inc. (NASDAQ:MLKN - Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 2,457,868 shares, an increase of 21.9% from the March 15th total of 2,015,873 shares. Based on an average daily volume of 1,347,858 shares, the days-to-cover ratio is presently 1.8 days. Approximately 3.8% of the shares of the stock are short sold.

Institutional Investors Weigh In On MillerKnoll

A number of institutional investors and hedge funds have recently made changes to their positions in MLKN. Royal Bank of Canada raised its position in shares of MillerKnoll by 39.4% during the first quarter. Royal Bank of Canada now owns 19,451 shares of the company's stock worth $373,000 after acquiring an additional 5,495 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of MillerKnoll by 2.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,480 shares of the company's stock worth $775,000 after acquiring an additional 801 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in MillerKnoll by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,932 shares of the company's stock valued at $3,788,000 after purchasing an additional 13,099 shares during the last quarter. Jane Street Group LLC increased its holdings in MillerKnoll by 311.8% in the first quarter. Jane Street Group LLC now owns 414,275 shares of the company's stock valued at $7,929,000 after purchasing an additional 313,684 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in MillerKnoll by 177.3% in the second quarter. Hsbc Holdings PLC now owns 28,704 shares of the company's stock valued at $553,000 after purchasing an additional 18,354 shares during the last quarter. Institutional investors own 87.50% of the company's stock.

MillerKnoll Trading Up 0.4%

MLKN stock opened at $16.27 on Friday. The company has a market cap of $1.11 billion, a P/E ratio of 116.21, a PEG ratio of 0.74 and a beta of 1.41. MillerKnoll has a twelve month low of $13.77 and a twelve month high of $23.18. The company has a quick ratio of 0.92, a current ratio of 1.64 and a debt-to-equity ratio of 0.96. The business has a fifty day moving average of $18.63 and a 200-day moving average of $17.73.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last released its earnings results on Wednesday, March 25th. The company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.02). The firm had revenue of $926.60 million for the quarter, compared to the consensus estimate of $941.95 million. MillerKnoll had a return on equity of 10.11% and a net margin of 0.28%.The company's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 EPS. As a group, equities research analysts expect that MillerKnoll will post 2.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MLKN shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of MillerKnoll in a research report on Monday, December 29th. Wall Street Zen downgraded MillerKnoll from a "buy" rating to a "hold" rating in a research report on Saturday, January 10th. Zacks Research downgraded MillerKnoll from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 7th. Finally, William Blair started coverage on MillerKnoll in a research report on Tuesday, February 10th. They issued an "outperform" rating for the company. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Reduce".

MillerKnoll Company Profile

MillerKnoll, Inc NASDAQ: MLKN is a global design and manufacturing company specializing in furniture, lighting, textiles, rugs and accessories for residential and commercial environments. The company’s portfolio features well-known brands such as Herman Miller, Knoll, Maharam, Geiger and Tuyama, offering solutions for office, healthcare, education, hospitality and home settings. Products span seating, workstations, tables, storage systems and outdoor furnishings, complemented by a range of services including space planning, ergonomic consulting and installation support.

Formed in July 2021 through the merger of Herman Miller and Knoll, MillerKnoll combines more than a century of design heritage with a modern portfolio of sustainable products and materials.

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