Short Interest in Hooker Furnishings Co. (NASDAQ:HOFT) Rises By 16.3%

Hooker Furnishings Co. (NASDAQ:HOFT) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 188,100 shares, an increase of 16.3% from the November 30th total of 161,800 shares. Based on an average daily volume of 28,000 shares, the days-to-cover ratio is currently 6.7 days. Approximately 1.8% of the company’s stock are sold short.

Hooker Furnishings Stock Up 1.9 %

Hooker Furnishings stock opened at $14.01 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.16 and a quick ratio of 1.46. The company’s 50-day moving average is $16.87 and its 200-day moving average is $15.96. The firm has a market capitalization of $150.05 million, a PE ratio of -15.40 and a beta of 1.22. Hooker Furnishings has a fifty-two week low of $13.00 and a fifty-two week high of $26.33.

Hooker Furnishings Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $0.23 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.92 annualized dividend and a yield of 6.57%. Hooker Furnishings’s dividend payout ratio is -101.10%.

Insider Transactions at Hooker Furnishings

In related news, Director Paulette Garafalo sold 2,489 shares of Hooker Furnishings stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $17.10, for a total value of $42,561.90. Following the sale, the director now owns 20,783 shares of the company’s stock, valued at approximately $355,389.30. The trade was a 10.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pzena Investment Management LLC lifted its holdings in Hooker Furnishings by 1.1% during the 3rd quarter. Pzena Investment Management LLC now owns 1,286,381 shares of the company’s stock valued at $23,258,000 after purchasing an additional 13,524 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Hooker Furnishings by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 241,310 shares of the company’s stock worth $4,364,000 after buying an additional 2,493 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Hooker Furnishings by 18.0% during the 2nd quarter. American Century Companies Inc. now owns 204,614 shares of the company’s stock worth $2,963,000 after buying an additional 31,261 shares during the period. State Street Corp grew its stake in Hooker Furnishings by 4.9% in the 3rd quarter. State Street Corp now owns 172,370 shares of the company’s stock valued at $3,116,000 after buying an additional 8,117 shares during the last quarter. Finally, Foundry Partners LLC raised its holdings in Hooker Furnishings by 22.0% in the 3rd quarter. Foundry Partners LLC now owns 86,155 shares of the company’s stock valued at $1,558,000 after acquiring an additional 15,550 shares during the period. 73.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised Hooker Furnishings from a “sell” rating to a “hold” rating in a report on Monday.

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.