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

Hooker Furnishings Co. (NASDAQ:HOFT) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 163,900 shares, a decline of 12.9% from the December 15th total of 188,100 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average trading volume of 33,900 shares, the days-to-cover ratio is presently 4.8 days.

Hooker Furnishings Stock Performance

Hooker Furnishings stock traded up $0.07 during midday trading on Friday, hitting $13.25. The company’s stock had a trading volume of 19,497 shares, compared to its average volume of 54,181. The company has a 50-day moving average price of $15.93 and a two-hundred day moving average price of $15.89. Hooker Furnishings has a 1-year low of $12.74 and a 1-year high of $25.80. The company has a market cap of $141.91 million, a price-to-earnings ratio of -14.56 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 1.76.

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 given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 6.94%. The ex-dividend date of this dividend was Friday, December 13th. Hooker Furnishings’s dividend payout ratio is currently -101.10%.

Insider Buying and Selling

In related news, Director Paulette Garafalo sold 2,489 shares of Hooker Furnishings 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. The trade was a 10.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Hooker Furnishings

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its position in shares of Hooker Furnishings by 18.0% in the second quarter. American Century Companies Inc. now owns 204,614 shares of the company’s stock worth $2,963,000 after purchasing an additional 31,261 shares during the period. Stifel Financial Corp grew its stake in Hooker Furnishings by 9.5% during the third quarter. Stifel Financial Corp now owns 44,003 shares of the company’s stock worth $796,000 after buying an additional 3,827 shares in the last quarter. Barclays PLC increased 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. HighTower Advisors LLC raised its position in shares of Hooker Furnishings by 26.4% in the 3rd quarter. HighTower Advisors LLC now owns 19,004 shares of the company’s stock valued at $344,000 after buying an additional 3,966 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Hooker Furnishings by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 241,310 shares of the company’s stock worth $4,364,000 after acquiring an additional 2,493 shares during the period. 73.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Hooker Furnishings from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th.

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.