Hooker Furnishings Co. (NASDAQ:HOFT) Short Interest Update

Hooker Furnishings Co. (NASDAQ:HOFT) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 161,400 shares, a drop of 7.3% from the October 15th total of 174,200 shares. Based on an average daily trading volume, of 23,800 shares, the short-interest ratio is presently 6.8 days. Currently, 1.5% of the company’s stock are sold short.

Hedge Funds Weigh In On Hooker Furnishings

Hedge funds and other institutional investors have recently modified their holdings of the stock. Copeland Capital Management LLC purchased a new position in shares of Hooker Furnishings in the 3rd quarter valued at approximately $37,000. EntryPoint Capital LLC purchased a new position in shares of Hooker Furnishings in the 1st quarter valued at approximately $77,000. Virtus Investment Advisers Inc. purchased a new position in shares of Hooker Furnishings in the 1st quarter valued at approximately $106,000. Acadian Asset Management LLC purchased a new position in shares of Hooker Furnishings in the 1st quarter valued at approximately $107,000. Finally, BNP Paribas Financial Markets raised its position in shares of Hooker Furnishings by 71.8% in the 1st quarter. BNP Paribas Financial Markets now owns 5,191 shares of the company’s stock valued at $125,000 after purchasing an additional 2,170 shares during the last quarter. 73.63% of the stock is owned by hedge funds and other institutional investors.

Hooker Furnishings Stock Performance

NASDAQ:HOFT opened at $17.62 on Wednesday. Hooker Furnishings has a fifty-two week low of $13.09 and a fifty-two week high of $27.15. The stock has a market capitalization of $188.71 million, a P/E ratio of 135.55 and a beta of 1.19. The company’s 50-day simple moving average is $17.10 and its 200-day simple moving average is $16.03.

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. On average, research analysts forecast that Hooker Furnishings will post -0.37 EPS for the current year.

Hooker Furnishings Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 5.22%. The ex-dividend date of this dividend was Friday, September 13th. Hooker Furnishings’s payout ratio is currently 707.75%.

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.