Paradigm Capital Management Inc. NY Takes $803,000 Position in Hooker Furnishings Corp. $HOFT

Key Points

• Paradigm Capital Management Inc. acquired 80,000 shares of Hooker Furnishings Corp. in the first quarter, valued at approximately $803,000, giving them a 0.75% ownership stake in the company.
• Hooker Furnishings reported a quarterly loss of ($0.29) earnings per share, falling short of analysts' expectations, with revenue of $85.32 million, below the projected $88.87 million.
• The company recently announced a quarterly dividend of $0.23 per share, translating to an annual yield of 9.2%, despite having a negative payout ratio of -84.40%.

Paradigm Capital Management Inc. NY acquired a new position in shares of Hooker Furnishings Corp. (NASDAQ:HOFT - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 80,000 shares of the company's stock, valued at approximately $803,000. Paradigm Capital Management Inc. NY owned about 0.75% of Hooker Furnishings at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Northern Trust Corp increased its stake in shares of Hooker Furnishings by 0.5% during the 4th quarter. Northern Trust Corp now owns 170,582 shares of the company's stock valued at $2,390,000 after acquiring an additional 889 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Hooker Furnishings by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 6,227 shares of the company's stock valued at $87,000 after purchasing an additional 1,356 shares during the period. Bridgeway Capital Management LLC boosted its position in Hooker Furnishings by 1.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 129,987 shares of the company's stock valued at $1,821,000 after buying an additional 1,535 shares during the last quarter. Bank of America Corp DE increased its holdings in Hooker Furnishings by 13.3% during the 4th quarter. Bank of America Corp DE now owns 16,008 shares of the company's stock worth $224,000 after purchasing an additional 1,875 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Hooker Furnishings by 13.0% in the fourth quarter. Barclays PLC now owns 17,478 shares of the company's stock worth $244,000 after buying an additional 2,015 shares during the last quarter. Institutional investors and hedge funds own 73.60% of the company's stock.

Wall Street Analyst Weigh In

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

Hooker Furnishings Stock Up 1.6%

Shares of HOFT stock traded up $0.16 during trading on Wednesday, hitting $10.18. 14,275 shares of the company were exchanged, compared to its average volume of 30,565. The firm has a market capitalization of $108.93 million, a price-to-earnings ratio of -9.34, a P/E/G ratio of 5.49 and a beta of 1.32. The business's 50-day simple moving average is $10.42 and its 200 day simple moving average is $10.40. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.96 and a current ratio of 3.94. 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 announced its quarterly earnings results on Thursday, June 12th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.13). The business had revenue of $85.32 million for the quarter, compared to analyst estimates of $88.87 million. Hooker Furnishings had a negative return on equity of 3.41% and a negative net margin of 2.95%. As a group, analysts forecast that Hooker Furnishings Corp. will post -0.44 EPS for the current fiscal year.

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.