Moors & Cabot Inc. Acquires 25,450 Shares of Hooker Furnishings Corp. $HOFT

Moors & Cabot Inc. grew its holdings in Hooker Furnishings Corp. (NASDAQ:HOFT) by 51.9% during the second quarter, HoldingsChannel.com reports. The firm owned 74,450 shares of the company’s stock after acquiring an additional 25,450 shares during the quarter. Moors & Cabot Inc.’s holdings in Hooker Furnishings were worth $788,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Strs Ohio bought a new position in shares of Hooker Furnishings in the first quarter worth about $124,000. Jane Street Group LLC purchased a new stake in Hooker Furnishings in the 1st quarter valued at about $146,000. Baron Wealth Management LLC boosted its position in Hooker Furnishings by 39.6% in the 2nd quarter. Baron Wealth Management LLC now owns 16,596 shares of the company’s stock valued at $176,000 after buying an additional 4,707 shares during the period. Nuveen LLC bought a new position in Hooker Furnishings in the 1st quarter worth about $227,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Hooker Furnishings during the second quarter worth approximately $265,000. 73.60% of the stock is owned by hedge funds and other institutional investors.

Hooker Furnishings Trading Up 1.8%

HOFT opened at $9.46 on Friday. The company has a current ratio of 2.99, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03. The firm has a market cap of $101.70 million, a price-to-earnings ratio of -7.82 and a beta of 1.40. Hooker Furnishings Corp. has a 12 month low of $7.34 and a 12 month high of $19.79. The stock has a fifty day moving average price of $9.78 and a 200-day moving average price of $10.01.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings data on Thursday, September 11th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.19). Hooker Furnishings had a negative net margin of 3.40% and a negative return on equity of 4.17%. The company had revenue of $82.15 million for the quarter, compared to the consensus estimate of $91.21 million. During the same period in the previous year, the business earned ($0.19) EPS. As a group, equities research analysts anticipate that Hooker Furnishings Corp. will post -0.44 earnings per share for the current fiscal year.

Hooker Furnishings Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, September 19th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 9.7%. Hooker Furnishings’s payout ratio is presently -76.03%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Zacks Research upgraded Hooker Furnishings from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings restated a “sell (d)” rating on shares of Hooker Furnishings in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

Hooker Furnishings 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.