StockNews.com Upgrades Hooker Furnishings (NASDAQ:HOFT) to Hold

StockNews.com upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a sell rating to a hold rating in a report released on Wednesday morning.

Hooker Furnishings Stock Performance

NASDAQ:HOFT opened at $13.27 on Wednesday. The business’s fifty day moving average price is $16.53 and its 200 day moving average price is $15.94. The firm has a market capitalization of $142.12 million, a PE ratio of -14.58 and a beta of 1.26. Hooker Furnishings has a 12 month low of $13.00 and a 12 month high of $25.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.16 and a quick ratio of 1.46.

Hooker Furnishings Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $0.23 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.92 annualized dividend and a yield of 6.93%. Hooker Furnishings’s dividend payout ratio is presently -101.10%.

Insider Transactions at Hooker Furnishings

In other Hooker Furnishings news, Director Paulette Garafalo sold 2,489 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $17.10, for a total transaction of $42,561.90. Following the completion of the sale, the director now directly owns 20,783 shares of the company’s stock, valued at $355,389.30. This represents a 10.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Trading of Hooker Furnishings

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

Hooker Furnishings Company Profile

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.