Hooker Furniture (NASDAQ:HOFT) Trading Up 6.1%

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Hooker Furniture Co. (NASDAQ:HOFT)’s share price traded up 6.1% on Tuesday . The company traded as high as $20.72 and last traded at $20.71, 101,177 shares were traded during trading. An increase of 34% from the average session volume of 75,512 shares. The stock had previously closed at $19.52.

Several brokerages have weighed in on HOFT. BidaskClub downgraded Hooker Furniture from a “hold” rating to a “sell” rating in a research note on Saturday, May 18th. ValuEngine cut Hooker Furniture from a “hold” rating to a “sell” rating in a research note on Friday, June 7th. Finally, TheStreet downgraded Hooker Furniture from a “b-” rating to a “c+” rating in a report on Friday, June 14th.

The stock’s 50-day moving average is $19.18 and its 200 day moving average is $24.83. The stock has a market cap of $224.41 million, a price-to-earnings ratio of 7.45 and a beta of 0.40. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.73 and a quick ratio of 1.89.

Hooker Furniture (NASDAQ:HOFT) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.15). The business had revenue of $152.25 million during the quarter. Hooker Furniture had a net margin of 4.57% and a return on equity of 11.63%.

The business also recently announced a — dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, September 13th. This represents a dividend yield of 3.2%.

In related news, CEO Paul B. Toms, Jr. acquired 5,000 shares of Hooker Furniture stock in a transaction that occurred on Monday, June 17th. The stock was purchased at an average price of $20.03 per share, for a total transaction of $100,150.00. Following the completion of the purchase, the chief executive officer now directly owns 82,756 shares of the company’s stock, valued at $1,657,602.68. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Douglas Townsend acquired 4,900 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average cost of $21.64 per share, for a total transaction of $106,036.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 10,400 shares of company stock worth $216,041. Corporate insiders own 2.20% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of HOFT. Bank of Montreal Can boosted its stake in shares of Hooker Furniture by 117.6% during the 2nd quarter. Bank of Montreal Can now owns 1,821 shares of the company’s stock worth $37,000 after acquiring an additional 984 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in Hooker Furniture in the first quarter valued at $29,000. AdvisorNet Financial Inc grew its holdings in Hooker Furniture by 45.2% in the second quarter. AdvisorNet Financial Inc now owns 3,340 shares of the company’s stock valued at $69,000 after purchasing an additional 1,039 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Hooker Furniture by 1.4% in the second quarter. AQR Capital Management LLC now owns 77,642 shares of the company’s stock valued at $1,601,000 after buying an additional 1,099 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Hooker Furniture by 5.3% in the second quarter. Swiss National Bank now owns 21,900 shares of the company’s stock valued at $452,000 after buying an additional 1,100 shares in the last quarter. Institutional investors own 85.61% of the company’s stock.

About Hooker Furniture (NASDAQ:HOFT)

Hooker Furniture Corporation, together with its subsidiaries, designs, manufactures, imports, and markets residential household, hospitality, and contract furniture in the United States. The company operates through Hooker Branded, Home Meridian, and All Other segments. The Hooker Branded segment offers a range of design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand name; and imported upholstered furniture.

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