Hooker Furnishings (NASDAQ:HOFT) Raised to “Hold” at StockNews.com

Hooker Furnishings (NASDAQ:HOFT) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

Hooker Furnishings Stock Performance

Shares of NASDAQ:HOFT traded up $0.34 during mid-day trading on Monday, reaching $13.75. The company had a trading volume of 57,343 shares, compared to its average volume of 34,106. Hooker Furnishings has a one year low of $13.00 and a one year high of $26.33. The company has a current ratio of 3.16, a quick ratio of 1.46 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $16.96 and its 200-day moving average price is $15.96. The firm has a market cap of $147.26 million, a price-to-earnings ratio of -15.11 and a beta of 1.22.

Insider Buying and Selling

In related news, Director Paulette Garafalo sold 2,489 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $17.10, for a total value of $42,561.90. Following the completion of the transaction, the director now directly owns 20,783 shares of the company’s stock, valued at approximately $355,389.30. This trade represents a 10.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hooker Furnishings

Several institutional investors have recently made changes to their positions in HOFT. Copeland Capital Management LLC bought a new stake in shares of Hooker Furnishings during the 3rd quarter valued at $37,000. Acadian Asset Management LLC grew its holdings in Hooker Furnishings by 15.7% during the 2nd quarter. Acadian Asset Management LLC now owns 5,179 shares of the company’s stock valued at $74,000 after buying an additional 703 shares in the last quarter. Inspire Advisors LLC bought a new stake in shares of Hooker Furnishings during the second quarter valued at about $190,000. Baron Wealth Management LLC purchased a new stake in shares of Hooker Furnishings in the third quarter worth about $215,000. Finally, Barclays PLC boosted its position in shares of Hooker Furnishings by 270.4% in the third quarter. Barclays PLC now owns 15,463 shares of the company’s stock valued at $279,000 after acquiring an additional 11,288 shares during the period. Hedge funds and other institutional investors own 73.63% of the company’s stock.

About Hooker Furnishings

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.