Inspire Advisors LLC Buys Shares of 13,112 Hooker Furnishings Co. (NASDAQ:HOFT)

Inspire Advisors LLC purchased a new position in Hooker Furnishings Co. (NASDAQ:HOFT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 13,112 shares of the company’s stock, valued at approximately $190,000. Inspire Advisors LLC owned approximately 0.12% of Hooker Furnishings at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. American Century Companies Inc. boosted its position in shares of Hooker Furnishings by 18.0% in the 2nd quarter. American Century Companies Inc. now owns 204,614 shares of the company’s stock worth $2,963,000 after purchasing an additional 31,261 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Hooker Furnishings by 15.7% during the second quarter. Acadian Asset Management LLC now owns 5,179 shares of the company’s stock valued at $74,000 after acquiring an additional 703 shares in the last quarter. Foundry Partners LLC raised its position in shares of Hooker Furnishings by 95.1% in the 2nd quarter. Foundry Partners LLC now owns 70,605 shares of the company’s stock valued at $1,022,000 after purchasing an additional 34,410 shares during the last quarter. Acuitas Investments LLC acquired a new stake in Hooker Furnishings in the 2nd quarter worth approximately $1,180,000. Finally, Waterfront Wealth Inc. grew its position in Hooker Furnishings by 23.3% during the 2nd quarter. Waterfront Wealth Inc. now owns 55,125 shares of the company’s stock worth $798,000 after purchasing an additional 10,428 shares during the last quarter. 73.63% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Hooker Furnishings news, Director Tonya Harris Jackson acquired 1,850 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were acquired at an average cost of $13.61 per share, with a total value of $25,178.50. Following the acquisition, the director now directly owns 25,229 shares of the company’s stock, valued at $343,366.69. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.70% of the stock is currently owned by insiders.

Hooker Furnishings Trading Up 4.0 %

NASDAQ HOFT opened at $16.32 on Monday. Hooker Furnishings Co. has a 12-month low of $13.09 and a 12-month high of $27.15. The company has a fifty day simple moving average of $15.08 and a two-hundred day simple moving average of $17.42. The stock has a market cap of $174.33 million, a P/E ratio of 41.85 and a beta of 1.18.

Hooker Furnishings (NASDAQ:HOFT) last issued its earnings results on Thursday, September 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). The firm had revenue of $95.08 million during the quarter, compared to analysts’ expectations of $93.54 million. Hooker Furnishings had a return on equity of 0.72% and a net margin of 0.40%. During the same quarter last year, the business earned $0.07 EPS. As a group, sell-side analysts forecast that Hooker Furnishings Co. will post -0.25 earnings per share for the current year.

Hooker Furnishings Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.92 annualized dividend and a yield of 5.64%. Hooker Furnishings’s dividend payout ratio (DPR) is presently 235.90%.

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.