Haverty Furniture Companies Sees Unusually High Options Volume (NYSE:HVT)

Haverty Furniture Companies, Inc. (NYSE:HVT) was the recipient of some unusual options trading on Tuesday. Investors purchased 2,639 call options on the company. This represents an increase of approximately 37,600% compared to the average daily volume of 7 call options.

Haverty Furniture Companies Stock Up 11.3%

HVT traded up $2.92 during trading hours on Tuesday, hitting $28.73. The stock had a trading volume of 40,283 shares, compared to its average volume of 99,942. Haverty Furniture Companies has a 1 year low of $19.89 and a 1 year high of $29.19. The company’s fifty day simple moving average is $24.54 and its 200 day simple moving average is $23.77. The stock has a market cap of $462.49 million, a PE ratio of 23.95, a price-to-earnings-growth ratio of 1.27 and a beta of 1.18.

Haverty Furniture Companies (NYSE:HVT) last issued its earnings results on Tuesday, August 4th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Haverty Furniture Companies had a net margin of 2.64% and a return on equity of 6.60%. As a group, equities analysts expect that Haverty Furniture Companies will post 1.62 EPS for the current year.

Haverty Furniture Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 1st were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.6%. Haverty Furniture Companies’s payout ratio is presently 110.00%.

Hedge Funds Weigh In On Haverty Furniture Companies

Several hedge funds have recently made changes to their positions in HVT. Royal Bank of Canada lifted its holdings in Haverty Furniture Companies by 13.8% during the 1st quarter. Royal Bank of Canada now owns 27,073 shares of the company’s stock worth $534,000 after purchasing an additional 3,293 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Haverty Furniture Companies by 30.5% in the first quarter. AQR Capital Management LLC now owns 162,821 shares of the company’s stock worth $3,211,000 after buying an additional 38,074 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Haverty Furniture Companies by 7.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock valued at $175,000 after acquiring an additional 651 shares during the period. Empowered Funds LLC grew its stake in Haverty Furniture Companies by 7.4% during the first quarter. Empowered Funds LLC now owns 92,185 shares of the company’s stock valued at $1,818,000 after acquiring an additional 6,387 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in Haverty Furniture Companies by 68.7% during the first quarter. Jane Street Group LLC now owns 172,099 shares of the company’s stock valued at $3,394,000 after acquiring an additional 70,060 shares in the last quarter. 80.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HVT has been the subject of several research reports. Zacks Research upgraded shares of Haverty Furniture Companies from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings downgraded shares of Haverty Furniture Companies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Haverty Furniture Companies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.