Hooker Furniture Co. (NASDAQ:HOFT) Sees Large Decline in Short Interest


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Hooker Furniture Co. (NASDAQ:HOFT) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 422,500 shares, a decrease of 16.8% from the March 31st total of 507,600 shares. Based on an average daily volume of 0 shares, the days-to-cover ratio is presently ∞ days.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio acquired a new stake in shares of Hooker Furniture during the fourth quarter worth $551,000. Poplar Forest Capital LLC boosted its stake in Hooker Furniture by 9.5% in the 4th quarter. Poplar Forest Capital LLC now owns 10,277 shares of the company’s stock worth $331,000 after purchasing an additional 891 shares during the period. Foundry Partners LLC grew its position in Hooker Furniture by 4.2% during the 4th quarter. Foundry Partners LLC now owns 64,510 shares of the company’s stock worth $2,080,000 after purchasing an additional 2,625 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Hooker Furniture in the fourth quarter valued at $2,133,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Hooker Furniture during the fourth quarter valued at $204,000. 85.83% of the stock is currently owned by institutional investors.

Shares of HOFT traded up $0.37 during midday trading on Tuesday, reaching $39.29. The stock had a trading volume of 2,824 shares, compared to its average volume of 48,939. The company has a market capitalization of $467.75 million, a P/E ratio of -37.42 and a beta of 0.79. The firm’s 50 day moving average price is $36.62 and its 200-day moving average price is $33.14. Hooker Furniture has a 52 week low of $12.47 and a 52 week high of $39.98.

Hooker Furniture (NASDAQ:HOFT) last issued its quarterly earnings results on Tuesday, April 13th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.04). Hooker Furniture had a positive return on equity of 8.67% and a negative net margin of 2.17%.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Wednesday, March 17th were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, March 16th. This represents a $0.72 annualized dividend and a yield of 1.83%.

Separately, TheStreet upgraded shares of Hooker Furniture from a “c+” rating to a “b-” rating in a research report on Friday, March 5th.

About Hooker Furniture

Hooker Furniture Corporation, together with its subsidiaries, designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. The company operates through three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers a range of design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand name; and imported upholstered furniture under the Hooker Upholstery brand.

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