Hooker Furnishings Corp. $HOFT Shares Purchased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Hooker Furnishings Corp. by 250.4%, acquiring an additional 78,940 shares to hold a total of 110,471 shares, valued at approximately $1,109,000.
• Hooker Furnishings reported a loss per share of ($0.29) for the last quarter, missing analysts' estimates, alongside a revenue of $85.32 million, below the projected $88.87 million.
• The stock currently has a consensus rating of "Hold" among analysts, with Zacks Research recently upgrading it to this rating.

Charles Schwab Investment Management Inc. raised its position in shares of Hooker Furnishings Corp. (NASDAQ:HOFT - Free Report) by 250.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,471 shares of the company's stock after acquiring an additional 78,940 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.03% of Hooker Furnishings worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Waterfront Wealth Inc. increased its position in Hooker Furnishings by 151.6% during the first quarter. Waterfront Wealth Inc. now owns 77,462 shares of the company's stock valued at $778,000 after acquiring an additional 46,678 shares during the last quarter. Bank of America Corp DE boosted its holdings in Hooker Furnishings by 13.3% in the fourth quarter. Bank of America Corp DE now owns 16,008 shares of the company's stock worth $224,000 after acquiring an additional 1,875 shares in the last quarter. Deutsche Bank AG lifted its holdings 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 worth $203,000 after purchasing an additional 7,157 shares during the period. GAMMA Investing LLC raised its position in Hooker Furnishings by 9,630.8% during the first quarter. GAMMA Investing LLC now owns 5,060 shares of the company's stock valued at $504,000 after acquiring an additional 5,008 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in 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 acquiring an additional 2,130 shares in the last quarter. 73.60% of the stock is owned by hedge funds and other institutional investors.

Hooker Furnishings Stock Performance

Hooker Furnishings stock traded up $0.16 during mid-day trading on Wednesday, reaching $10.18. 14,275 shares of the company were exchanged, compared to its average volume of 30,565. 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's 50-day simple moving average is $10.40 and its two-hundred day simple moving average is $10.40. The firm has a market cap of $108.93 million, a PE ratio of -9.34, a price-to-earnings-growth ratio of 5.49 and a beta of 1.32. Hooker Furnishings Corp. has a twelve month low of $7.34 and a twelve month high of $19.79.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $85.32 million during the quarter, compared to analysts' expectations of $88.87 million. Equities analysts predict that Hooker Furnishings Corp. will post -0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Hooker Furnishings to a "hold" rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of "Hold".

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.