Hooker Furnishings Corp. (NASDAQ:HOFT) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of Hooker Furnishings Corp. (NASDAQ:HOFT) by 9,630.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,060 shares of the company’s stock after buying an additional 5,008 shares during the period. GAMMA Investing LLC’s holdings in Hooker Furnishings were worth $504,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HOFT. Bank of New York Mellon Corp lifted its position in Hooker Furnishings by 27.7% during the fourth quarter. Bank of New York Mellon Corp now owns 89,658 shares of the company’s stock valued at $1,256,000 after purchasing an additional 19,459 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Hooker Furnishings by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,531 shares of the company’s stock worth $442,000 after acquiring an additional 1,900 shares during the period. Oak Hill Wealth Advisors LLC acquired a new position in shares of Hooker Furnishings in the fourth quarter worth about $145,000. Pzena Investment Management LLC raised its position in shares of Hooker Furnishings by 3.8% in the fourth quarter. Pzena Investment Management LLC now owns 1,335,593 shares of the company’s stock worth $18,712,000 after acquiring an additional 49,212 shares during the period. Finally, First Eagle Investment Management LLC raised its position in shares of Hooker Furnishings by 95.5% in the fourth quarter. First Eagle Investment Management LLC now owns 113,909 shares of the company’s stock worth $1,596,000 after acquiring an additional 55,629 shares during the period. 73.63% of the stock is currently owned by institutional investors and hedge funds.

Hooker Furnishings Stock Performance

Shares of HOFT stock opened at $10.06 on Friday. The firm’s 50 day moving average price is $9.58 and its 200-day moving average price is $11.80. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.76 and a current ratio of 3.94. Hooker Furnishings Corp. has a one year low of $7.34 and a one year high of $19.79. The firm has a market cap of $107.64 million, a P/E ratio of -9.23, a P/E/G ratio of 5.53 and a beta of 1.37.

Hooker Furnishings (NASDAQ:HOFT) last released its earnings results on Thursday, June 12th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.13). The business had revenue of $85.32 million for the quarter, compared to analyst estimates of $88.87 million. Hooker Furnishings had a negative return on equity of 3.41% and a negative net margin of 2.95%. As a group, equities research analysts predict that Hooker Furnishings Corp. will post -0.44 EPS for the current year.

Hooker Furnishings Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 9.15%. The ex-dividend date is Monday, June 16th. Hooker Furnishings’s dividend payout ratio is presently -84.40%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Hooker Furnishings from a “hold” rating to a “sell” rating in a research note on Sunday, April 20th.

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.