Ethan Allen Interiors Inc. (NYSE:ETD) Sees Large Drop in Short Interest

Ethan Allen Interiors Inc. (NYSE:ETD) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 2,550,000 shares, a decline of 6.6% from the November 15th total of 2,730,000 shares. Currently, 10.8% of the company’s stock are short sold. Based on an average daily volume of 276,000 shares, the short-interest ratio is presently 9.2 days.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reiterated a “market perform” rating and set a $32.00 target price on shares of Ethan Allen Interiors in a report on Thursday, October 31st.

Ethan Allen Interiors Price Performance

NYSE:ETD opened at $29.92 on Wednesday. Ethan Allen Interiors has a 12 month low of $26.53 and a 12 month high of $35.62. The business’s 50-day moving average is $29.77 and its two-hundred day moving average is $29.72. The firm has a market capitalization of $760.87 million, a PE ratio of 12.11 and a beta of 1.30.

Ethan Allen Interiors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date was Tuesday, November 12th. Ethan Allen Interiors’s dividend payout ratio is presently 63.16%.

Insider Buying and Selling

In other news, CEO M Farooq Kathwari sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $28.77, for a total transaction of $287,700.00. Following the completion of the sale, the chief executive officer now owns 1,671,905 shares in the company, valued at $48,100,706.85. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 10.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Miller Howard Investments Inc. NY raised its position in Ethan Allen Interiors by 2.2% in the second quarter. Miller Howard Investments Inc. NY now owns 17,536 shares of the company’s stock worth $489,000 after acquiring an additional 371 shares in the last quarter. Unison Advisors LLC raised its holdings in shares of Ethan Allen Interiors by 1.4% during the 3rd quarter. Unison Advisors LLC now owns 29,677 shares of the company’s stock valued at $946,000 after purchasing an additional 421 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Ethan Allen Interiors by 2.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 25,740 shares of the company’s stock valued at $718,000 after acquiring an additional 537 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Ethan Allen Interiors by 6.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,737 shares of the company’s stock valued at $244,000 after buying an additional 543 shares during the last quarter. Finally, Cim LLC lifted its position in shares of Ethan Allen Interiors by 11.9% during the 2nd quarter. Cim LLC now owns 6,978 shares of the company’s stock worth $210,000 after purchasing an additional 741 shares during the last quarter. 83.80% of the stock is currently owned by institutional investors.

Ethan Allen Interiors Company Profile

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. The company operates in two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery comprising fabric-covered items, such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings.