Hooker Furnishings (NASDAQ:HOFT) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Hooker Furnishings Co. (NASDAQ:HOFT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.45 and traded as high as $17.30. Hooker Furnishings shares last traded at $17.25, with a volume of 20,410 shares traded.

Hooker Furnishings Stock Up 5.4 %

The company has a market capitalization of $184.26 million, a PE ratio of 44.23 and a beta of 1.18. The firm’s 50-day moving average is $16.17 and its 200-day moving average is $16.45.

Hooker Furnishings (NASDAQ:HOFT) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). The firm had revenue of $95.08 million during the quarter, compared to analysts’ expectations of $93.54 million. Hooker Furnishings had a return on equity of 0.72% and a net margin of 0.40%. During the same quarter in the previous year, the company posted $0.07 earnings per share. As a group, equities research analysts predict that Hooker Furnishings Co. will post -0.25 EPS for the current year.

Hooker Furnishings Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.33%. Hooker Furnishings’s dividend payout ratio (DPR) is 235.90%.

Institutional Trading of Hooker Furnishings

Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC grew its stake in shares of Hooker Furnishings by 15.7% during the second quarter. Acadian Asset Management LLC now owns 5,179 shares of the company’s stock valued at $74,000 after buying an additional 703 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Hooker Furnishings by 71.8% in the 1st quarter. BNP Paribas Financial Markets now owns 5,191 shares of the company’s stock worth $125,000 after purchasing an additional 2,170 shares during the period. Bank of New York Mellon Corp lifted its position in Hooker Furnishings by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 78,249 shares of the company’s stock valued at $1,133,000 after purchasing an additional 2,452 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Hooker Furnishings during the first quarter valued at approximately $77,000. Finally, Virtus Investment Advisers Inc. bought a new position in shares of Hooker Furnishings in the first quarter worth approximately $106,000. 73.63% of the stock is owned by institutional investors.

About Hooker Furnishings

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.