Hooker Furnishings (NASDAQ:HOFT) Rating Increased to Hold at StockNews.com

Hooker Furnishings (NASDAQ:HOFT) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Hooker Furnishings Stock Performance

Shares of NASDAQ HOFT opened at $13.25 on Wednesday. The firm’s 50-day moving average price is $16.60 and its 200-day moving average price is $15.96. Hooker Furnishings has a 52-week low of $13.00 and a 52-week high of $25.80. The company has a market cap of $141.91 million, a PE ratio of -14.56 and a beta of 1.26. The company has a quick ratio of 1.46, a current ratio of 3.16 and a debt-to-equity ratio of 0.10.

Insider Transactions at Hooker Furnishings

In other news, Director Paulette Garafalo sold 2,489 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $17.10, for a total value of $42,561.90. Following the transaction, the director now owns 20,783 shares in the company, valued at $355,389.30. This represents a 10.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Hooker Furnishings

Large investors have recently added to or reduced their stakes in the business. Copeland Capital Management LLC purchased a new position in shares of Hooker Furnishings during the 3rd quarter worth $37,000. Acadian Asset Management LLC lifted its position in 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 purchasing an additional 703 shares in the last quarter. Baron Wealth Management LLC bought a new stake in Hooker Furnishings during the third quarter valued at about $215,000. Inspire Advisors LLC purchased a new stake in Hooker Furnishings in the second quarter worth about $190,000. Finally, Barclays PLC raised its stake in shares of Hooker Furnishings by 270.4% in the third quarter. Barclays PLC now owns 15,463 shares of the company’s stock worth $279,000 after buying an additional 11,288 shares during the period. 73.63% of the stock is currently 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.