American Century Companies Inc. Reduces Position in Hooker Furnishings Corp. $HOFT

American Century Companies Inc. lowered its position in Hooker Furnishings Corp. (NASDAQ:HOFT - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 167,674 shares of the company's stock after selling 29,404 shares during the period. American Century Companies Inc. owned approximately 1.57% of Hooker Furnishings worth $1,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in HOFT. Tower Research Capital LLC TRC lifted its stake in Hooker Furnishings by 225.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company's stock worth $43,000 after purchasing an additional 2,130 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Hooker Furnishings by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 6,227 shares of the company's stock valued at $87,000 after acquiring an additional 1,356 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Hooker Furnishings by 97.5% during the fourth quarter. Deutsche Bank AG now owns 14,494 shares of the company's stock valued at $203,000 after acquiring an additional 7,157 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Hooker Furnishings by 13.3% during the fourth quarter. Bank of America Corp DE now owns 16,008 shares of the company's stock valued at $224,000 after acquiring an additional 1,875 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Hooker Furnishings during the first quarter valued at approximately $227,000. Institutional investors own 73.60% of the company's stock.

Hooker Furnishings Stock Up 2.2%

HOFT stock traded up $0.24 during trading on Friday, hitting $10.92. 21,781 shares of the company's stock traded hands, compared to its average volume of 27,447. The firm has a market capitalization of $116.88 million, a P/E ratio of -10.02, a PEG ratio of 5.87 and a beta of 1.32. The business has a fifty day simple moving average of $10.39 and a two-hundred day simple moving average of $10.37. The company has a quick ratio of 1.96, a current ratio of 3.94 and a debt-to-equity ratio of 0.11. Hooker Furnishings Corp. has a 1 year low of $7.34 and a 1 year high of $19.79.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last released its quarterly earnings results on Thursday, June 12th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.13). Hooker Furnishings had a negative return on equity of 3.41% and a negative net margin of 2.95%.The firm had revenue of $85.32 million during the quarter, compared to analysts' expectations of $88.87 million. Sell-side analysts anticipate that Hooker Furnishings Corp. will post -0.44 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Hooker Furnishings to a "hold" rating in a research note on Tuesday, August 12th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold".

Hooker Furnishings 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.