Azarias Capital Management L.P. Sells 268,621 Shares of Hooker Furnishings Corp. (NASDAQ:HOFT)

Azarias Capital Management L.P. cut its holdings in shares of Hooker Furnishings Corp. (NASDAQ:HOFT - Free Report) by 35.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 485,707 shares of the company's stock after selling 268,621 shares during the quarter. Hooker Furnishings comprises 2.7% of Azarias Capital Management L.P.'s investment portfolio, making the stock its 15th largest holding. Azarias Capital Management L.P. owned approximately 4.54% of Hooker Furnishings worth $4,876,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Tower Research Capital LLC TRC increased its position in shares of Hooker Furnishings by 225.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company's stock valued at $43,000 after purchasing an additional 2,130 shares during the period. Wells Fargo & Company MN boosted its stake in Hooker Furnishings by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 6,227 shares of the company's stock worth $87,000 after purchasing an additional 1,356 shares in the last quarter. Oak Hill Wealth Advisors LLC acquired a new position in Hooker Furnishings in the fourth quarter worth $145,000. Deutsche Bank AG lifted 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 during the period. Finally, 4WEALTH Advisors Inc. acquired a new position in shares of Hooker Furnishings during the fourth quarter valued at $222,000. 73.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Hooker Furnishings from a "hold" rating to a "sell" rating in a research note on Sunday, April 20th.

Hooker Furnishings Trading Up 2.7%

NASDAQ:HOFT traded up $0.27 during mid-day trading on Monday, hitting $10.22. The company had a trading volume of 73,602 shares, compared to its average volume of 49,733. Hooker Furnishings Corp. has a fifty-two week low of $7.34 and a fifty-two week high of $19.79. The business's fifty day moving average is $9.65 and its two-hundred day moving average is $11.62. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.96 and a current ratio of 3.94. The firm has a market cap of $109.35 million, a P/E ratio of -9.38, a P/E/G ratio of 5.47 and a beta of 1.37.

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

Hooker Furnishings Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 9.00%. The ex-dividend date is Monday, June 16th. Hooker Furnishings's payout ratio is -84.40%.

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.