Hooker Furnishings (NASDAQ:HOFT) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Hooker Furnishings Co. (NASDAQ:HOFT)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $16.45 and traded as high as $17.30. Hooker Furnishings shares last traded at $17.25, with a volume of 20,410 shares.

Hooker Furnishings Price Performance

The company has a market cap of $176.36 million, a price-to-earnings ratio of 42.33 and a beta of 1.18. The business’s fifty day moving average price is $16.26 and its 200 day moving average price is $16.41.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). The business had revenue of $95.08 million for the quarter, compared to analyst estimates of $93.54 million. Hooker Furnishings had a return on equity of 0.72% and a net margin of 0.40%. During the same quarter last year, the firm posted $0.07 EPS. As a group, equities research analysts anticipate that Hooker Furnishings Co. will post -0.25 EPS for the current year.

Hooker Furnishings Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.92 annualized dividend and a yield of 5.57%. Hooker Furnishings’s payout ratio is 235.90%.

Hedge Funds Weigh In On Hooker Furnishings

Several hedge funds and other institutional investors have recently bought and sold shares of HOFT. Los Angeles Capital Management LLC raised its holdings in shares of Hooker Furnishings by 747.5% during the first quarter. Los Angeles Capital Management LLC now owns 89,088 shares of the company’s stock valued at $2,139,000 after purchasing an additional 78,576 shares during the period. American National Bank & Trust Co. VA acquired a new position in shares of Hooker Furnishings during the first quarter valued at about $357,000. BNP Paribas Financial Markets raised its holdings in shares of Hooker Furnishings by 71.8% during the first quarter. BNP Paribas Financial Markets now owns 5,191 shares of the company’s stock valued at $125,000 after purchasing an additional 2,170 shares during the period. Empowered Funds LLC raised its holdings in shares of Hooker Furnishings by 27.6% during the first quarter. Empowered Funds LLC now owns 43,536 shares of the company’s stock valued at $1,045,000 after purchasing an additional 9,412 shares during the period. Finally, Foundry Partners LLC acquired a new position in shares of Hooker Furnishings during the first quarter valued at about $869,000. Institutional investors and hedge funds own 73.63% of the company’s stock.

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.