Hooker Furnishings Corp. $HOFT Shares Sold by Azarias Capital Management L.P.

Azarias Capital Management L.P. trimmed its holdings in shares of Hooker Furnishings Corp. (NASDAQ:HOFT) by 51.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 164,807 shares of the company’s stock after selling 171,646 shares during the quarter. Hooker Furnishings comprises approximately 2.0% of Azarias Capital Management L.P.’s holdings, making the stock its 21st largest holding. Azarias Capital Management L.P.’s holdings in Hooker Furnishings were worth $2,139,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. State of Wyoming purchased a new stake in shares of Hooker Furnishings in the 2nd quarter valued at $73,000. Royal Bank of Canada lifted its position in Hooker Furnishings by 6.0% during the first quarter. Royal Bank of Canada now owns 21,383 shares of the company’s stock valued at $276,000 after purchasing an additional 1,218 shares during the period. PDT Partners LLC acquired a new position in Hooker Furnishings during the second quarter valued at $330,000. Empowered Funds LLC boosted its holdings in Hooker Furnishings by 10.6% in the first quarter. Empowered Funds LLC now owns 28,696 shares of the company’s stock valued at $370,000 after purchasing an additional 2,747 shares during the last quarter. Finally, Baron Wealth Management LLC boosted its holdings in Hooker Furnishings by 38.3% in the second quarter. Baron Wealth Management LLC now owns 22,960 shares of the company’s stock valued at $409,000 after purchasing an additional 6,364 shares during the last quarter. 73.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Zacks Research downgraded Hooker Furnishings from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Weiss Ratings cut Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday. Finally, Wall Street Zen downgraded Hooker Furnishings from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 20th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Hooker Furnishings currently has a consensus rating of “Reduce”.

Hooker Furnishings Trading Up 0.4%

Hooker Furnishings stock traded up $0.05 during mid-day trading on Wednesday, hitting $12.60. The company had a trading volume of 22,381 shares, compared to its average volume of 49,015. Hooker Furnishings Corp. has a 12-month low of $8.64 and a 12-month high of $18.09. The company’s fifty day moving average is $13.53 and its 200-day moving average is $13.82. The company has a market capitalization of $134.69 million, a price-to-earnings ratio of -7.46, a P/E/G ratio of 0.91 and a beta of 1.10.

Hooker Furnishings Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a $0.1150 dividend. This represents a $0.46 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, September 15th. Hooker Furnishings’s payout ratio is currently -27.22%.

Hooker Furnishings Profile

Hooker Furnishings Corporation (NASDAQ: HOFT) is a home furnishings company headquartered in Martinsville, Virginia. The company designs, imports, manufactures, and markets furniture and related products for residential and commercial settings.

Its product portfolio includes upholstered and motion furniture, bedroom and dining furniture, home office pieces, occasional tables, outdoor furniture, and home décor. Hooker Furnishings sells products through furniture retailers, interior designers, e-commerce channels, and hospitality and contract-furnishing customers.