Squarepoint Ops LLC Invests $2.54 Million in Ethan Allen Interiors Inc. $ETD

Key Points

• Squarepoint Ops LLC acquired 113,781 shares of Ethan Allen Interiors in the second quarter, worth approximately $2.54 million and representing about 0.45% of the company. Institutional investors collectively own 83.8% of ETD.
• Analyst sentiment remains cautious: Telsey lowered its price target to $22, Zacks downgraded the stock to “strong sell,” and the consensus rating is “Reduce” with a $22 target price.
• Ethan Allen reported quarterly EPS of $0.36, slightly above estimates, but revenue fell 8.5% year over year to $146.75 million. The company also declared a $3.00-per-share special dividend, while its CEO sold shares under a pre-arranged trading plan.

Squarepoint Ops LLC purchased a new position in shares of Ethan Allen Interiors Inc. (NYSE:ETD - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 113,781 shares of the company's stock, valued at approximately $2,542,000. Squarepoint Ops LLC owned about 0.45% of Ethan Allen Interiors at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in Ethan Allen Interiors by 1.5% during the 1st quarter. AQR Capital Management LLC now owns 114,494 shares of the company's stock worth $3,171,000 after acquiring an additional 1,655 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Ethan Allen Interiors by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,544 shares of the company's stock valued at $375,000 after buying an additional 538 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Ethan Allen Interiors by 31.2% during the 1st quarter. Jane Street Group LLC now owns 371,979 shares of the company's stock worth $10,304,000 after acquiring an additional 88,383 shares during the period. First Trust Advisors LP boosted its position in shares of Ethan Allen Interiors by 3.9% during the 2nd quarter. First Trust Advisors LP now owns 81,299 shares of the company's stock worth $2,264,000 after acquiring an additional 3,086 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Ethan Allen Interiors during the 2nd quarter worth approximately $682,000. 83.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ETD. Telsey Advisory Group reduced their target price on Ethan Allen Interiors from $24.00 to $22.00 and set a "market perform" rating on the stock in a report on Thursday, July 30th. Zacks Research cut Ethan Allen Interiors from a "hold" rating to a "strong sell" rating in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded Ethan Allen Interiors from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, September 2nd. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Ethan Allen Interiors currently has a consensus rating of "Reduce" and a consensus target price of $22.00.

Insider Activity at Ethan Allen Interiors

In related news, CEO M Kathwari sold 22,811 shares of the business's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $25.04, for a total value of $571,187.44. Following the sale, the chief executive officer owned 1,465,530 shares of the company's stock, valued at $36,696,871.20. The trade was a 1.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 9.92% of the company's stock.

Ethan Allen Interiors Trading Up 0.1%

Shares of ETD stock opened at $21.95 on Monday. The business's 50-day moving average price is $22.86 and its 200-day moving average price is $22.03. Ethan Allen Interiors Inc. has a 12 month low of $18.28 and a 12 month high of $30.11. The firm has a market capitalization of $553.09 million, a price-to-earnings ratio of 14.07 and a beta of 1.03.

Ethan Allen Interiors (NYSE:ETD - Get Free Report) last released its quarterly earnings data 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 return on equity of 7.88% and a net margin of 6.88%.The company had revenue of $146.75 million during the quarter, compared to the consensus estimate of $148.70 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The firm's revenue was down 8.5% compared to the same quarter last year. On average, sell-side analysts predict that Ethan Allen Interiors Inc. will post 1.3 earnings per share for the current fiscal year.

Ethan Allen Interiors Announces Dividend

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

Ethan Allen Interiors Company Profile

Ethan Allen Interiors Inc NYSE: ETD is an American home furnishings company that designs, manufactures and sells furniture and related products. Its offerings include upholstered furniture, case goods, dining and bedroom furniture, mattresses, rugs, lighting, window treatments, wall decor and other home accessories.

The company markets its products through a network of Ethan Allen Design Centers in the United States and Canada, as well as through its e-commerce platform and other distribution channels.

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