Gilman Hill Asset Management LLC Acquires New Holdings in Ethan Allen Interiors Inc. $ETD

Key Points

• Gilman Hill Asset Management LLC acquired 222,691 shares of Ethan Allen Interiors Inc. for approximately $6.20 million, representing an ownership of 0.88% of the company.
• CEO M Farooq Kathwari sold 15,000 shares at an average price of $29.37, reducing his total holdings to approximately 1.6 million shares valued at nearly $47 million.
• Ethan Allen Interiors reported earnings of $0.49 per share, surpassing estimates, with a quarterly revenue of $160.36 million, although revenue decreased by 4.9% year-over-year.

Gilman Hill Asset Management LLC acquired a new stake in shares of Ethan Allen Interiors Inc. (NYSE:ETD - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 222,691 shares of the company's stock, valued at approximately $6,202,000. Gilman Hill Asset Management LLC owned approximately 0.88% of Ethan Allen Interiors as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. bought a new position in shares of Ethan Allen Interiors during the 1st quarter valued at approximately $3,254,000. Jane Street Group LLC grew its holdings in shares of Ethan Allen Interiors by 31.2% in the first quarter. Jane Street Group LLC now owns 371,979 shares of the company's stock valued at $10,304,000 after purchasing an additional 88,383 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Ethan Allen Interiors in the fourth quarter valued at $2,480,000. Trexquant Investment LP grew its holdings in shares of Ethan Allen Interiors by 345.6% in the first quarter. Trexquant Investment LP now owns 93,332 shares of the company's stock valued at $2,585,000 after purchasing an additional 72,386 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Ethan Allen Interiors in the first quarter valued at $1,908,000. 83.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $30.00 price target on shares of Ethan Allen Interiors in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $30.00.

Ethan Allen Interiors Price Performance

Shares of NYSE:ETD traded down $0.54 during trading on Friday, reaching $29.27. 473,587 shares of the company were exchanged, compared to its average volume of 292,961. The firm has a market capitalization of $744.34 million, a PE ratio of 14.56 and a beta of 1.13. The business's fifty day simple moving average is $29.52 and its 200-day simple moving average is $28.10. Ethan Allen Interiors Inc. has a 12-month low of $24.55 and a 12-month high of $32.61.

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

Ethan Allen Interiors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Wednesday, August 13th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Wednesday, August 13th. Ethan Allen Interiors's dividend payout ratio (DPR) is presently 77.61%.

Insider Transactions at Ethan Allen Interiors

In related news, CEO M Farooq Kathwari sold 15,000 shares of Ethan Allen Interiors stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $29.37, for a total transaction of $440,550.00. Following the transaction, the chief executive officer directly owned 1,598,652 shares of the company's stock, valued at $46,952,409.24. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 10.48% of the stock is currently owned by insiders.

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.