Short Interest in Kimball International, Inc. (NASDAQ:KBAL) Decreases By 15.3%

Posted by on Jun 1st, 2022

Kimball International, Inc. (NASDAQ:KBAL – Get Rating) saw a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 600,000 shares, a drop of 15.3% from the April 30th total of 708,500 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average trading volume of 191,600 shares, the days-to-cover ratio is presently 3.1 days.

A number of institutional investors have recently modified their holdings of the business. Gabelli Funds LLC increased its position in Kimball International by 9.6% during the 1st quarter. Gabelli Funds LLC now owns 113,981 shares of the company’s stock valued at $963,000 after purchasing an additional 10,000 shares during the period. Teton Advisors Inc. grew its position in shares of Kimball International by 3.2% in the 1st quarter. Teton Advisors Inc. now owns 255,000 shares of the company’s stock worth $2,155,000 after buying an additional 8,000 shares during the period. Gamco Investors INC. ET AL grew its position in shares of Kimball International by 9.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 226,050 shares of the company’s stock worth $1,910,000 after buying an additional 20,000 shares during the period. Penn Capital Management Company LLC grew its position in shares of Kimball International by 17.6% in the 1st quarter. Penn Capital Management Company LLC now owns 201,002 shares of the company’s stock worth $1,813,000 after buying an additional 30,072 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Kimball International by 75.6% in the 1st quarter. Royal Bank of Canada now owns 286,106 shares of the company’s stock worth $2,418,000 after buying an additional 123,143 shares during the period. 65.74% of the stock is currently owned by institutional investors and hedge funds.

Shares of KBAL opened at $8.54 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.79 and a current ratio of 1.37. Kimball International has a fifty-two week low of $7.51 and a fifty-two week high of $14.30. The firm has a 50 day moving average price of $8.31 and a 200-day moving average price of $9.37. The firm has a market cap of $314.19 million, a price-to-earnings ratio of -24.40 and a beta of 0.84.

Kimball International (NASDAQ:KBAL – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.21 earnings per share (EPS) for the quarter. The business had revenue of $180.92 million for the quarter. Kimball International had a negative net margin of 2.00% and a positive return on equity of 2.14%.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, June 24th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date is Thursday, June 23rd. Kimball International’s payout ratio is currently -102.86%.

Separately, StockNews.com started coverage on shares of Kimball International in a research report on Thursday, March 31st. They set a “hold” rating for the company.

About Kimball International (Get Rating)

Kimball International, Inc engages in the manufacture and sale of furniture products under the Kimball, National, Etc., Interwoven, Kimball Hospitality, D'style, and Poppin brands in the United States and internationally. The company offers desks/workstations, benching, seating, lounge, storage, tables, and casegoods for collaborative and open workspaces, conference and meeting/huddle rooms, training rooms, private offices, learning areas, classrooms, lobby/reception areas, and dining/café areas; and headboards, tables, seating, vanities, casegoods, lighting, and other products for hotel properties, and commercial and residential mixed use developments.

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