Hooker Furnishings (NASDAQ:HOFT) Upgraded at StockNews.com

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

Hooker Furnishings Stock Up 0.2 %

Shares of HOFT opened at $13.27 on Wednesday. The business’s 50 day simple moving average is $16.48 and its 200-day simple moving average is $15.92. Hooker Furnishings has a one year low of $13.00 and a one year high of $25.80. The company has a market capitalization of $142.12 million, a P/E ratio of -14.58 and a beta of 1.26. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.16 and a quick ratio of 1.46.

Insiders Place Their Bets

In other news, Director Paulette Garafalo sold 2,489 shares of the company’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 transaction of $42,561.90. Following the transaction, the director now directly owns 20,783 shares in the company, valued at approximately $355,389.30. This represents a 10.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HOFT. Copeland Capital Management LLC acquired a new stake in shares of Hooker Furnishings during the 3rd quarter worth approximately $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 worth $74,000 after acquiring an additional 703 shares during the period. Inspire Advisors LLC bought a new stake in shares of Hooker Furnishings during the 2nd quarter valued at $190,000. Baron Wealth Management LLC acquired a new position in shares of Hooker Furnishings in the 3rd quarter valued at $215,000. Finally, Barclays PLC boosted its position in shares of Hooker Furnishings by 270.4% in the 3rd quarter. Barclays PLC now owns 15,463 shares of the company’s stock worth $279,000 after purchasing an additional 11,288 shares during the last quarter. 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.