Hooker Furnishings Co. (NASDAQ:HOFT) Sees Significant Increase in Short Interest

Hooker Furnishings Co. (NASDAQ:HOFT) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 303,800 shares, a growth of 24.6% from the February 13th total of 243,800 shares. Based on an average daily volume of 53,700 shares, the days-to-cover ratio is currently 5.7 days. Approximately 2.9% of the company’s stock are short sold.

Hooker Furnishings Stock Down 5.2 %

NASDAQ HOFT traded down $0.63 on Monday, hitting $11.54. The stock had a trading volume of 79,537 shares, compared to its average volume of 36,099. The business’s fifty day moving average price is $12.94 and its 200 day moving average price is $15.35. The stock has a market cap of $123.59 million, a price-to-earnings ratio of -12.68, a price-to-earnings-growth ratio of 0.85 and a beta of 1.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.16 and a quick ratio of 1.76. Hooker Furnishings has a 52-week low of $11.60 and a 52-week high of $24.18.

Hooker Furnishings Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.23 per share. The ex-dividend date is Monday, March 17th. This represents a $0.92 annualized dividend and a yield of 7.97%. Hooker Furnishings’s dividend payout ratio (DPR) is -101.10%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Hooker Furnishings from a “hold” rating to a “sell” rating in a report on Friday, February 28th.

Institutional Investors Weigh In On Hooker Furnishings

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its holdings in shares of Hooker Furnishings by 225.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company’s stock valued at $43,000 after acquiring an additional 2,130 shares in the last quarter. Wells Fargo & Company MN grew its position in Hooker Furnishings by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 6,227 shares of the company’s stock worth $87,000 after purchasing an additional 1,356 shares during the last quarter. Oak Hill Wealth Advisors LLC acquired a new position in Hooker Furnishings during the 4th quarter valued at approximately $145,000. Deutsche Bank AG raised its holdings in shares of Hooker Furnishings by 97.5% in the fourth quarter. Deutsche Bank AG now owns 14,494 shares of the company’s stock worth $203,000 after buying an additional 7,157 shares during the last quarter. Finally, Baron Wealth Management LLC purchased a new stake in shares of Hooker Furnishings during the third quarter valued at $215,000. 73.63% of the stock is currently owned by hedge funds and other institutional investors.

Hooker Furnishings Company 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.