Hooker Furnishings (NASDAQ:HOFT) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Hooker Furnishings Co. (NASDAQ:HOFT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.99 and traded as high as $18.99. Hooker Furnishings shares last traded at $18.72, with a volume of 52,405 shares traded.

Hooker Furnishings Price Performance

The business has a 50-day moving average of $16.63 and a two-hundred day moving average of $15.99. The company has a market cap of $200.49 million, a P/E ratio of 144.01 and a beta of 1.19.

Hooker Furnishings (NASDAQ:HOFT) last released its quarterly earnings results on Thursday, September 5th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). Hooker Furnishings had a net margin of 0.40% and a return on equity of 0.72%. The firm had revenue of $95.08 million during the quarter, compared to the consensus estimate of $93.54 million. During the same quarter in the prior year, the business posted $0.07 earnings per share. Equities analysts anticipate that Hooker Furnishings Co. will post -0.37 EPS for the current fiscal year.

Hooker Furnishings Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, September 13th. This represents a $0.92 annualized dividend and a dividend yield of 4.91%. Hooker Furnishings’s dividend payout ratio is presently 707.75%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Copeland Capital Management LLC acquired a new stake in Hooker Furnishings in the third quarter worth about $37,000. Acadian Asset Management LLC boosted its stake in Hooker Furnishings by 15.7% in the 2nd quarter. Acadian Asset Management LLC now owns 5,179 shares of the company’s stock worth $74,000 after purchasing an additional 703 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Hooker Furnishings during the 1st quarter worth approximately $77,000. Virtus Investment Advisers Inc. acquired a new position in Hooker Furnishings during the 1st quarter valued at approximately $106,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Hooker Furnishings by 71.8% in the first quarter. BNP Paribas Financial Markets now owns 5,191 shares of the company’s stock worth $125,000 after buying an additional 2,170 shares during the last quarter. 73.63% of the stock is currently owned by hedge funds and other institutional investors.

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.