Hooker Furnishings (NASDAQ:HOFT) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a sell rating to a hold rating in a research report sent to investors on Monday morning.

Hooker Furnishings Stock Performance

NASDAQ:HOFT opened at $14.01 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.46 and a current ratio of 3.16. The stock has a market capitalization of $150.05 million, a PE ratio of -15.40 and a beta of 1.22. Hooker Furnishings has a fifty-two week low of $13.00 and a fifty-two week high of $26.33. The company has a fifty day moving average of $16.82 and a two-hundred day moving average of $15.94.

Hooker Furnishings Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date was Friday, December 13th. Hooker Furnishings’s dividend payout ratio is presently -101.10%.

Insiders Place Their Bets

In related news, Director Paulette Garafalo sold 2,489 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $17.10, for a total transaction of $42,561.90. Following the completion of the sale, the director now owns 20,783 shares of the company’s stock, valued at approximately $355,389.30. This represents a 10.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Copeland Capital Management LLC acquired a new stake in shares of Hooker Furnishings in the 3rd quarter worth $37,000. Acadian Asset Management LLC lifted its holdings in Hooker Furnishings by 15.7% in the second quarter. Acadian Asset Management LLC now owns 5,179 shares of the company’s stock valued at $74,000 after acquiring an additional 703 shares during the last quarter. Inspire Advisors LLC purchased a new position in Hooker Furnishings in the second quarter worth approximately $190,000. Baron Wealth Management LLC acquired a new stake in Hooker Furnishings during the third quarter worth $215,000. Finally, Barclays PLC raised its holdings in Hooker Furnishings by 270.4% in the 3rd quarter. Barclays PLC now owns 15,463 shares of the company’s stock valued at $279,000 after buying an additional 11,288 shares during the period. 73.63% of the stock is currently owned by institutional investors and hedge funds.

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.