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

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

Analysts Set New Price Targets

Separately, StockNews.com cut Hooker Furnishings from a “hold” rating to a “sell” rating in a report on Thursday, December 12th.

Hooker Furnishings Stock Performance

Shares of NASDAQ:HOFT opened at $13.41 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.16 and a quick ratio of 1.46. Hooker Furnishings has a 1 year low of $13.09 and a 1 year high of $27.15. The firm has a market capitalization of $143.62 million, a PE ratio of -14.74 and a beta of 1.22. The business’s 50 day moving average price is $16.96 and its 200-day moving average price is $15.95.

Hooker Furnishings Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.92 annualized dividend and a yield of 6.86%. Hooker Furnishings’s dividend payout ratio (DPR) is presently -101.10%.

Insider Activity

In other news, Director Paulette Garafalo sold 2,489 shares of Hooker Furnishings stock in a transaction dated Monday, December 16th. The shares were 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 in the company, valued at $355,389.30. This trade represents a 10.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Hooker Furnishings

A number of hedge funds have recently modified their holdings of HOFT. Copeland Capital Management LLC acquired a new position in Hooker Furnishings during the third quarter worth about $37,000. Acadian Asset Management LLC lifted its stake in Hooker Furnishings by 15.7% in the 2nd quarter. Acadian Asset Management LLC now owns 5,179 shares of the company’s stock worth $74,000 after purchasing an additional 703 shares in the last quarter. Inspire Advisors LLC acquired a new position in shares of Hooker Furnishings during the 2nd quarter worth approximately $190,000. Baron Wealth Management LLC purchased a new stake in shares of Hooker Furnishings in the third quarter valued at approximately $215,000. Finally, Barclays PLC grew its position in shares of Hooker Furnishings by 270.4% in the third quarter. Barclays PLC now owns 15,463 shares of the company’s stock valued at $279,000 after purchasing an additional 11,288 shares in the last quarter. 73.63% of the stock is currently owned by institutional investors and hedge funds.

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.