Hooker Furnishings (NASDAQ:HOFT) Upgraded at StockNews.com

StockNews.com upgraded shares of Hooker Furnishings (NASDAQ:HOFT) from a sell rating to a hold rating in a research report report published on Wednesday.

Hooker Furnishings Stock Performance

NASDAQ:HOFT opened at $12.89 on Wednesday. The stock has a 50-day simple moving average of $16.48 and a two-hundred day simple moving average of $15.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.46 and a current ratio of 3.16. Hooker Furnishings has a 52-week low of $12.78 and a 52-week high of $25.80. The firm has a market capitalization of $138.05 million, a PE ratio of -14.16 and a beta of 1.26.

Hooker Furnishings Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 7.14%. The ex-dividend date was Friday, December 13th. Hooker Furnishings’s payout ratio is -101.10%.

Insiders Place Their Bets

In other Hooker Furnishings news, Director Paulette Garafalo sold 2,489 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $17.10, for a total transaction of $42,561.90. Following the sale, the director now directly owns 20,783 shares of the company’s stock, valued at $355,389.30. This trade represents a 10.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Hooker Furnishings

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

Hooker Furnishings Company Profile

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.