Azarias Capital Management L.P. Cuts Stock Position in Hooker Furnishings Corp. (NASDAQ:HOFT)

Azarias Capital Management L.P. reduced its holdings in Hooker Furnishings Corp. (NASDAQ:HOFT - Free Report) by 35.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 485,707 shares of the company's stock after selling 268,621 shares during the period. Hooker Furnishings comprises 2.7% of Azarias Capital Management L.P.'s holdings, making the stock its 15th biggest position. Azarias Capital Management L.P. owned about 4.54% of Hooker Furnishings worth $4,876,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in HOFT. Tower Research Capital LLC TRC boosted its holdings in shares of Hooker Furnishings by 225.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company's stock valued at $43,000 after acquiring an additional 2,130 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Hooker Furnishings by 27.8% in the 4th 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 during the last quarter. Oak Hill Wealth Advisors LLC purchased a new stake in shares of Hooker Furnishings in the 4th quarter valued at $145,000. Deutsche Bank AG boosted its holdings in shares of Hooker Furnishings by 97.5% in the 4th 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 last quarter. Finally, 4WEALTH Advisors Inc. purchased a new stake in shares of Hooker Furnishings in the 4th quarter valued at $222,000. 73.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Hooker Furnishings from a "hold" rating to a "sell" rating in a report on Sunday, April 20th.

Hooker Furnishings Stock Performance

NASDAQ HOFT traded down $0.11 during mid-day trading on Friday, reaching $9.95. 221,878 shares of the stock were exchanged, compared to its average volume of 49,746. The business's 50 day moving average is $9.61 and its 200-day moving average is $11.75. Hooker Furnishings Corp. has a 1 year low of $7.34 and a 1 year high of $19.79. The company has a market capitalization of $106.49 million, a P/E ratio of -9.13, a P/E/G ratio of 5.53 and a beta of 1.37. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.76 and a current ratio of 3.94.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last posted its 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 for the quarter, compared to analysts' expectations of $88.87 million. On average, equities research analysts forecast that Hooker Furnishings Corp. will post -0.44 EPS for the current fiscal year.

Hooker Furnishings Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.23 per share. The ex-dividend date is Monday, June 16th. This represents a $0.92 dividend on an annualized basis and a yield of 9.25%. Hooker Furnishings's dividend payout ratio is currently -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.