Hooker Furnishings Co. (NASDAQ:HOFT) Short Interest Up 24.6% in February

Hooker Furnishings Co. (NASDAQ:HOFT - Get Free Report) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 303,800 shares, an increase of 24.6% from the February 13th total of 243,800 shares. Approximately 2.9% of the company's stock are sold short. Based on an average daily volume of 53,700 shares, the short-interest ratio is currently 5.7 days.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Hooker Furnishings from a "sell" rating to a "hold" rating in a report on Tuesday.

Hooker Furnishings Stock Up 1.0 %

HOFT traded up $0.12 during midday trading on Friday, reaching $11.61. The company's stock had a trading volume of 288,320 shares, compared to its average volume of 37,490. The stock's 50-day moving average is $12.84 and its 200-day moving average is $15.27. Hooker Furnishings has a 1 year low of $11.17 and a 1 year high of $24.18. The firm has a market capitalization of $124.34 million, a price-to-earnings ratio of -12.76, a PEG ratio of 0.85 and a beta of 1.16. The company has a current ratio of 3.16, a quick ratio of 1.76 and a debt-to-equity ratio of 0.10.

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Hooker Furnishings Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.92 annualized dividend and a dividend yield of 7.92%. Hooker Furnishings's dividend payout ratio is presently -101.10%.

Institutional Investors Weigh In On Hooker Furnishings

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Hooker Furnishings by 107.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 43,688 shares of the company's stock valued at $790,000 after purchasing an additional 22,635 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Hooker Furnishings by 3.8% during the fourth quarter. Pzena Investment Management LLC now owns 1,335,593 shares of the company's stock valued at $18,712,000 after purchasing an additional 49,212 shares in the last quarter. Barclays PLC boosted its position in shares of 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 buying an additional 11,288 shares during the last quarter. Stifel Financial Corp increased its holdings in Hooker Furnishings by 9.5% in the 3rd 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. Finally, HighTower Advisors LLC raised its position in Hooker Furnishings by 26.4% in the 3rd quarter. HighTower Advisors LLC now owns 19,004 shares of the company's stock worth $344,000 after buying an additional 3,966 shares during the last quarter. 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.