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

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

Hooker Furnishings Stock Up 0.5 %

Shares of HOFT traded up $0.06 during mid-day trading on Tuesday, hitting $11.60. 50,949 shares of the company’s stock were exchanged, compared to its average volume of 36,384. The company has a quick ratio of 1.76, a current ratio of 3.16 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average of $12.91 and a two-hundred day moving average of $15.32. The stock has a market cap of $124.24 million, a price-to-earnings ratio of -12.75, a P/E/G ratio of 0.85 and a beta of 1.16. Hooker Furnishings has a twelve month low of $11.32 and a twelve month high of $24.18.

Hooker Furnishings Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 7.93%. The ex-dividend date of this dividend is Monday, March 17th. Hooker Furnishings’s dividend payout ratio is currently -101.10%.

Analyst Ratings Changes

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

Institutional Trading of Hooker Furnishings

Several large investors have recently modified their holdings of HOFT. Tower Research Capital LLC TRC boosted its holdings in Hooker Furnishings by 225.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company’s stock valued at $43,000 after purchasing an additional 2,130 shares during the period. Wells Fargo & Company MN boosted its holdings in Hooker Furnishings by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 6,227 shares of the company’s stock valued at $87,000 after purchasing an additional 1,356 shares during the period. Oak Hill Wealth Advisors LLC bought a new stake in Hooker Furnishings in the 4th quarter valued at $145,000. Deutsche Bank AG boosted its holdings in Hooker Furnishings by 97.5% in the 4th quarter. Deutsche Bank AG now owns 14,494 shares of the company’s stock valued at $203,000 after purchasing an additional 7,157 shares during the period. Finally, Baron Wealth Management LLC bought a new stake in Hooker Furnishings in the 3rd quarter valued at $215,000. 73.63% of the stock is owned by 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.