Hooker Furnishings (NASDAQ:HOFT) Stock Passes Above 200 Day Moving Average - Here's What Happened

Hooker Furnishings Co. (NASDAQ:HOFT - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $15.99 and traded as high as $18.99. Hooker Furnishings shares last traded at $18.72, with a volume of 52,405 shares changing hands.

Hooker Furnishings Price Performance

The stock has a 50 day moving average price of $16.68 and a two-hundred day moving average price of $16.01. The company has a market capitalization of $194.28 million, a price-to-earnings ratio of 144.01 and a beta of 1.19.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last announced its earnings results on Thursday, September 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.06). The company had revenue of $95.08 million for the quarter, compared to analyst estimates of $93.54 million. Hooker Furnishings had a return on equity of 0.72% and a net margin of 0.40%. During the same quarter in the previous year, the company posted $0.07 earnings per share. Sell-side analysts forecast that Hooker Furnishings Co. will post -0.37 EPS for the current fiscal year.

Hooker Furnishings Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.23 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.92 annualized dividend and a dividend yield of 5.07%. Hooker Furnishings's dividend payout ratio (DPR) is currently 707.75%.

Hedge Funds Weigh In On Hooker Furnishings

Several large investors have recently made changes to their positions in HOFT. Foundry Partners LLC acquired a new position in Hooker Furnishings in the first quarter valued at approximately $869,000. American Century Companies Inc. lifted its stake in shares of Hooker Furnishings by 18.0% in the 2nd quarter. American Century Companies Inc. now owns 204,614 shares of the company's stock valued at $2,963,000 after purchasing an additional 31,261 shares during the period. Azarias Capital Management L.P. lifted its stake in shares of Hooker Furnishings by 23.8% in the 2nd quarter. Azarias Capital Management L.P. now owns 624,415 shares of the company's stock valued at $9,042,000 after purchasing an additional 120,219 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Hooker Furnishings during the first quarter worth $107,000. Finally, Acuitas Investments LLC bought a new stake in Hooker Furnishings in the second quarter valued at about $1,180,000. Institutional investors and hedge funds 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.