Hooker Furnishings Co. (NASDAQ:HOFT) Short Interest Down 5.1% in October

Hooker Furnishings Co. (NASDAQ:HOFT) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 250,600 shares, a decline of 5.1% from the October 15th total of 264,200 shares. Currently, 2.4% of the company’s shares are short sold. Based on an average daily trading volume, of 36,800 shares, the short-interest ratio is presently 6.8 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Hooker Furnishings in a research note on Thursday, October 5th. They set a “hold” rating on the stock.

Hooker Furnishings Stock Performance

NASDAQ HOFT opened at $18.25 on Friday. The stock’s fifty day moving average is $18.48 and its two-hundred day moving average is $18.70. The firm has a market capitalization of $196.01 million, a P/E ratio of -18.62, a price-to-earnings-growth ratio of 1.63 and a beta of 1.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.54 and a current ratio of 4.14. Hooker Furnishings has a fifty-two week low of $14.73 and a fifty-two week high of $22.27.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings results on Friday, September 8th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.19). Hooker Furnishings had a negative net margin of 2.15% and a positive return on equity of 3.56%. The business had revenue of $97.81 million during the quarter. On average, research analysts anticipate that Hooker Furnishings will post 0.81 earnings per share for the current year.

Hooker Furnishings Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 18th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 4.82%. The ex-dividend date was Friday, September 15th. Hooker Furnishings’s dividend payout ratio (DPR) is presently -89.80%.

Hedge Funds Weigh In On Hooker Furnishings

Several large investors have recently modified their holdings of the business. Rhumbline Advisers lifted its stake in shares of Hooker Furnishings by 5.1% in the 3rd quarter. Rhumbline Advisers now owns 14,533 shares of the company’s stock valued at $283,000 after purchasing an additional 704 shares during the last quarter. Quantbot Technologies LP lifted its stake in Hooker Furnishings by 57.6% during the 2nd quarter. Quantbot Technologies LP now owns 2,190 shares of the company’s stock worth $34,000 after acquiring an additional 800 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Hooker Furnishings by 29.3% during the 4th quarter. Victory Capital Management Inc. now owns 3,976 shares of the company’s stock worth $74,000 after acquiring an additional 902 shares in the last quarter. State Street Corp lifted its stake in Hooker Furnishings by 2.6% during the 1st quarter. State Street Corp now owns 47,566 shares of the company’s stock worth $865,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in Hooker Furnishings by 3.2% during the 3rd quarter. Royal Bank of Canada now owns 45,302 shares of the company’s stock worth $611,000 after acquiring an additional 1,402 shares in the last quarter. Institutional investors and hedge funds own 74.01% of the company’s stock.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. The company's 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.