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

Hooker Furnishings Co. (NASDAQ:HOFT - Get Free Report) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 173,400 shares, a growth of 7.4% from the October 31st total of 161,400 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily volume of 23,200 shares, the days-to-cover ratio is currently 7.5 days.

Hooker Furnishings Stock Performance

HOFT traded down $0.67 during trading on Tuesday, reaching $18.19. 19,614 shares of the company traded hands, compared to its average volume of 20,275. The company has a market cap of $194.81 million, a P/E ratio of 139.93 and a beta of 1.22. Hooker Furnishings has a 12-month low of $13.09 and a 12-month high of $27.15. The firm has a fifty day simple moving average of $17.34 and a 200 day simple moving average of $16.06.

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

Hooker Furnishings Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 5.06%. Hooker Furnishings's dividend payout ratio (DPR) is presently 707.75%.

Institutional Investors Weigh In On Hooker Furnishings

Hedge funds and other institutional investors have recently modified their holdings of the business. Copeland Capital Management LLC bought a new stake in shares of Hooker Furnishings during the third quarter worth $37,000. Acadian Asset Management LLC boosted 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 valued at $74,000 after purchasing an additional 703 shares during the period. Baron Wealth Management LLC bought a new position in Hooker Furnishings in the third quarter worth approximately $215,000. Inspire Advisors LLC purchased a new stake in shares of Hooker Furnishings in the 2nd quarter worth $190,000. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Hooker Furnishings during the second quarter valued at $198,000. 73.63% of the stock is currently owned by hedge funds and other institutional investors.

About Hooker Furnishings

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.