Rhumbline Advisers Grows Holdings in Hooker Furniture Co. (HOFT)

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Rhumbline Advisers grew its position in Hooker Furniture Co. (NASDAQ:HOFT) by 14.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,738 shares of the company’s stock after purchasing an additional 1,443 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of Hooker Furniture worth $551,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Hooker Furniture in the first quarter valued at about $104,000. Victory Capital Management Inc. acquired a new stake in shares of Hooker Furniture in the first quarter valued at about $236,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Hooker Furniture in the second quarter valued at about $305,000. Barclays PLC lifted its stake in shares of Hooker Furniture by 294.6% in the first quarter. Barclays PLC now owns 8,638 shares of the company’s stock valued at $317,000 after purchasing an additional 6,449 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Hooker Furniture in the first quarter valued at about $327,000. Institutional investors and hedge funds own 86.38% of the company’s stock.

HOFT traded down $0.61 during midday trading on Friday, reaching $31.71. 44,610 shares of the company’s stock were exchanged, compared to its average volume of 60,466. The company has a current ratio of 3.64, a quick ratio of 1.99 and a debt-to-equity ratio of 0.14. The stock has a market cap of $398.34 million, a P/E ratio of 11.82 and a beta of 0.20. Hooker Furniture Co. has a 1-year low of $31.26 and a 1-year high of $52.75.

Hooker Furniture (NASDAQ:HOFT) last posted its quarterly earnings data on Thursday, August 30th. The company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.05). The firm had revenue of $168.66 million during the quarter. Hooker Furniture had a net margin of 4.94% and a return on equity of 14.49%.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Thursday, September 13th.

Several analysts recently commented on HOFT shares. BidaskClub cut shares of Hooker Furniture from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Sidoti cut shares of Hooker Furniture from a “buy” rating to a “neutral” rating and set a $43.00 target price for the company. in a research report on Tuesday, September 18th. Finally, ValuEngine cut shares of Hooker Furniture from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th.

In other news, insider Donald Lee Boone acquired 1,000 shares of the business’s stock in a transaction dated Friday, September 28th. The stock was acquired at an average price of $33.90 per share, with a total value of $33,900.00. Following the completion of the transaction, the insider now directly owns 1,000 shares in the company, valued at approximately $33,900. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.50% of the company’s stock.

Hooker Furniture Profile

Hooker Furniture Corporation, together with its subsidiaries, designs, manufactures, imports, and markets residential household furniture products in the United States. It operates through Hooker Branded, Home Meridian, and All Other segments. The Hooker Branded segment offers a range of design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand name; and imported upholstered furniture.

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Institutional Ownership by Quarter for Hooker Furniture (NASDAQ:HOFT)

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