Ethan Allen Interiors Inc. $ETD Shares Purchased by Mainstay Capital Management LLC ADV

Key Points

• Mainstay Capital Management LLC ADV increased its stake in Ethan Allen Interiors by 104.9% during the 2nd quarter, owning approximately $3.29 million worth of shares after acquiring an additional 60,499 shares.
• Research reports show a consensus rating of "Hold" for Ethan Allen Interiors, with a price target set at $30.00 from various analysts.
• The company recently declared a quarterly dividend of $0.39 per share, representing a yield of 5.5% and a payout ratio of 77.61%.

Mainstay Capital Management LLC ADV boosted its stake in Ethan Allen Interiors Inc. (NYSE:ETD - Free Report) by 104.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 118,187 shares of the company's stock after purchasing an additional 60,499 shares during the period. Mainstay Capital Management LLC ADV owned about 0.46% of Ethan Allen Interiors worth $3,292,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Tectonic Advisors LLC raised its holdings in shares of Ethan Allen Interiors by 5.3% in the 2nd quarter. Tectonic Advisors LLC now owns 68,981 shares of the company's stock valued at $1,921,000 after buying an additional 3,465 shares during the period. KLP Kapitalforvaltning AS increased its stake in Ethan Allen Interiors by 50.0% during the second quarter. KLP Kapitalforvaltning AS now owns 6,000 shares of the company's stock worth $167,000 after purchasing an additional 2,000 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Ethan Allen Interiors by 9.0% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,749 shares of the company's stock worth $550,000 after purchasing an additional 1,634 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Ethan Allen Interiors by 11.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,594 shares of the company's stock worth $574,000 after purchasing an additional 2,151 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Ethan Allen Interiors in the second quarter valued at approximately $2,008,000. 83.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on ETD. Telsey Advisory Group reiterated a "market perform" rating and set a $30.00 target price on shares of Ethan Allen Interiors in a report on Thursday, July 31st. Zacks Research upgraded Ethan Allen Interiors from a "strong sell" rating to a "hold" rating in a report on Monday, September 29th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Ethan Allen Interiors in a research report on Wednesday. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Ethan Allen Interiors presently has a consensus rating of "Hold" and a consensus price target of $30.00.

Ethan Allen Interiors Price Performance

Shares of NYSE:ETD opened at $28.11 on Thursday. Ethan Allen Interiors Inc. has a 12 month low of $24.55 and a 12 month high of $32.61. The firm has a market capitalization of $715.40 million, a P/E ratio of 13.99 and a beta of 1.12. The company's fifty day moving average price is $29.36 and its 200 day moving average price is $28.23.

Ethan Allen Interiors (NYSE:ETD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.04. Ethan Allen Interiors had a net margin of 8.39% and a return on equity of 10.92%. The company had revenue of $160.36 million during the quarter, compared to the consensus estimate of $152.20 million. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Ethan Allen Interiors's revenue for the quarter was down 4.9% on a year-over-year basis. On average, sell-side analysts anticipate that Ethan Allen Interiors Inc. will post 2.32 EPS for the current year.

Ethan Allen Interiors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Wednesday, August 13th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $1.56 annualized dividend and a yield of 5.5%. Ethan Allen Interiors's payout ratio is 77.61%.

Insiders Place Their Bets

In other news, CEO M Farooq Kathwari sold 15,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $29.37, for a total value of $440,550.00. Following the completion of the sale, the chief executive officer directly owned 1,598,652 shares of the company's stock, valued at approximately $46,952,409.24. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.92% of the company's stock.

Ethan Allen Interiors Profile

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. The company operates in two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery comprising fabric-covered items, such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings.

Want to see what other hedge funds are holding ETD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ethan Allen Interiors Inc. (NYSE:ETD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.