PDT Partners LLC Purchases Shares of 92,343 Ethan Allen Interiors Inc. $ETD

Key Points

• PDT Partners LLC acquired 92,343 Ethan Allen Interiors shares worth approximately $2.06 million, giving it a 0.36% stake. Institutional investors collectively own 83.8% of the company.
• Analysts remain bearish: Ethan Allen has an average “Sell” rating and a $22 consensus price target, while Telsey Advisory Group cut its target to $22 and Zacks downgraded the stock to “Strong Sell.”
• The company beat quarterly EPS estimates, reporting $0.36 versus $0.34 expected, but revenue fell 8.5% year over year to $146.75 million. Ethan Allen also announced a $3.00 special dividend payable September 17 to shareholders of record September 3.

PDT Partners LLC acquired a new position in shares of Ethan Allen Interiors Inc. (NYSE:ETD - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 92,343 shares of the company's stock, valued at approximately $2,063,000. PDT Partners LLC owned about 0.36% of Ethan Allen Interiors at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Allworth Financial LP bought a new position in shares of Ethan Allen Interiors in the second quarter valued at approximately $30,000. Tower Research Capital LLC TRC grew its position in Ethan Allen Interiors by 365.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,054 shares of the company's stock worth $85,000 after acquiring an additional 2,398 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Ethan Allen Interiors by 132.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,899 shares of the company's stock valued at $87,000 after purchasing an additional 2,219 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Ethan Allen Interiors during the 1st quarter valued at $88,000. Finally, Dunhill Financial LLC bought a new position in Ethan Allen Interiors in the 2nd quarter valued at $92,000. Institutional investors and hedge funds own 83.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ETD shares. Telsey Advisory Group reduced their price objective on Ethan Allen Interiors from $24.00 to $22.00 and set a "market perform" rating on the stock in a research note on Thursday, July 30th. Zacks Research lowered Ethan Allen Interiors from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Ethan Allen Interiors in a report on Friday, July 31st. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Sell" and a consensus price target of $22.00.

Ethan Allen Interiors Trading Down 0.5%

Shares of NYSE:ETD opened at $23.64 on Thursday. The stock has a market capitalization of $601.64 million, a P/E ratio of 15.15 and a beta of 1.02. Ethan Allen Interiors Inc. has a 1-year low of $18.28 and a 1-year high of $30.80. The business has a 50-day moving average price of $22.64 and a two-hundred day moving average price of $22.11.

Ethan Allen Interiors (NYSE:ETD - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. Ethan Allen Interiors had a net margin of 6.88% and a return on equity of 7.88%. The company had revenue of $146.75 million for the quarter, compared to analyst estimates of $148.70 million. During the same quarter last year, the firm earned $0.49 EPS. The company's revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities analysts predict that Ethan Allen Interiors Inc. will post 1.3 EPS for the current year.

Ethan Allen Interiors Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 3rd will be issued a $3.00 dividend. The ex-dividend date is Thursday, September 3rd. Ethan Allen Interiors's dividend payout ratio is currently 100.00%.

About Ethan Allen Interiors

Ethan Allen Interiors Inc NYSE: ETD is a vertically integrated manufacturer and retailer of home furnishings, offering a broad range of furniture, upholstery, case goods and decorative accessories. The company designs and produces the majority of its products in its own North American manufacturing facilities, maintaining close control over quality, craftsmanship and production schedules. Through its network of company-operated and franchised Design Centers and galleries, Ethan Allen delivers a full-service offering that includes on-site interior design consultations and project management.

Founded in 1932 as a small Colonial-Revival furniture maker in northern Vermont, Ethan Allen has grown into a global brand known for its timeless styles and customization options.

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