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

Hooker Furniture Co. (NASDAQ:HOFT) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 154,200 shares, an increase of 49.9% from the May 30th total of 102,900 shares. Currently, 1.3% of the company’s stock are sold short. Based on an average daily volume of 91,500 shares, the days-to-cover ratio is presently 1.7 days.

NASDAQ HOFT traded up $0.05 during trading on Friday, hitting $21.35. The company’s stock had a trading volume of 65,600 shares, compared to its average volume of 129,396. The company has a current ratio of 3.73, a quick ratio of 1.89 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $251.71 million, a P/E ratio of 7.24 and a beta of 0.38. The firm’s 50 day moving average is $23.08. Hooker Furniture has a fifty-two week low of $19.09 and a fifty-two week high of $49.75.

Hooker Furniture (NASDAQ:HOFT) last issued its quarterly earnings results on Wednesday, June 12th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). The business had revenue of $135.52 million during the quarter. Hooker Furniture had a return on equity of 13.60% and a net margin of 5.13%.

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 30th. Shareholders of record on Monday, June 17th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Friday, June 14th.

In related news, CEO Paul B. Toms, Jr. acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were bought at an average price of $28.97 per share, with a total value of $28,970.00. Following the completion of the transaction, the chief executive officer now directly owns 76,256 shares in the company, valued at $2,209,136.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas Townsend acquired 4,900 shares of the company’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. In the last ninety days, insiders have purchased 24,400 shares of company stock worth $611,586. 2.20% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Royce & Associates LP raised its stake in shares of Hooker Furniture by 0.8% in the first quarter. Royce & Associates LP now owns 1,749,500 shares of the company’s stock worth $50,438,000 after purchasing an additional 14,000 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Hooker Furniture by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 989,760 shares of the company’s stock worth $26,070,000 after purchasing an additional 12,827 shares during the last quarter. BlackRock Inc. raised its stake in shares of Hooker Furniture by 2.0% in the fourth quarter. BlackRock Inc. now owns 824,653 shares of the company’s stock worth $21,721,000 after purchasing an additional 15,940 shares during the last quarter. Northern Trust Corp raised its stake in shares of Hooker Furniture by 0.3% in the fourth quarter. Northern Trust Corp now owns 401,041 shares of the company’s stock worth $10,563,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. raised its stake in shares of Hooker Furniture by 1.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 399,421 shares of the company’s stock worth $11,515,000 after purchasing an additional 4,432 shares during the last quarter. 86.39% of the stock is owned by institutional investors and hedge funds.

HOFT has been the topic of a number of recent research reports. BidaskClub raised Zynerba Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 18th. ValuEngine raised YY from a “sell” rating to a “hold” rating in a research report on Friday, June 7th. Finally, TheStreet downgraded Hooker Furniture from a “b-” rating to a “c+” rating in a research report on Friday, June 14th.

Hooker Furniture Company Profile

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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