Hooker Furnishings Co. (NASDAQ:HOFT) Short Interest Update

Hooker Furnishings Co. (NASDAQ:HOFT) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 161,800 shares, a drop of 6.7% from the November 15th total of 173,400 shares. Based on an average daily volume of 23,700 shares, the days-to-cover ratio is currently 6.8 days. Currently, 1.5% of the shares of the stock are sold short.

Analysts Set New Price Targets

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

Institutional Trading of Hooker Furnishings

Several hedge funds and other institutional investors have recently modified their holdings of the company. Copeland Capital Management LLC bought a new stake in shares of Hooker Furnishings in the third quarter worth $37,000. Acadian Asset Management LLC grew its holdings in shares of Hooker Furnishings by 15.7% in the 2nd quarter. Acadian Asset Management LLC now owns 5,179 shares of the company’s stock valued at $74,000 after acquiring an additional 703 shares in the last quarter. Inspire Advisors LLC bought a new stake in Hooker Furnishings during the second quarter worth about $190,000. Atlantic Union Bankshares Corp acquired a new position in shares of Hooker Furnishings during the 2nd quarter worth approximately $198,000. Finally, Baron Wealth Management LLC bought a new position in Hooker Furnishings during the third quarter worth about $215,000. Institutional investors and hedge funds own 73.63% of the company’s stock.

Hooker Furnishings Trading Down 3.2 %

Shares of HOFT opened at $16.60 on Tuesday. The stock’s fifty day simple moving average is $17.35 and its 200-day simple moving average is $16.06. The firm has a market capitalization of $177.79 million, a PE ratio of -18.85 and a beta of 1.22. The company has a quick ratio of 1.46, a current ratio of 3.16 and a debt-to-equity ratio of 0.10. Hooker Furnishings has a 12-month low of $13.09 and a 12-month high of $27.15.

Hooker Furnishings Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 5.54%. The ex-dividend date of this dividend is Friday, December 13th. Hooker Furnishings’s dividend payout ratio (DPR) is presently -101.10%.

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.