Waterfront Wealth Inc. Buys 46,678 Shares of Hooker Furnishings Corp. (NASDAQ:HOFT)

Waterfront Wealth Inc. boosted its holdings in Hooker Furnishings Corp. (NASDAQ:HOFT - Free Report) by 151.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,462 shares of the company's stock after purchasing an additional 46,678 shares during the period. Waterfront Wealth Inc. owned about 0.72% of Hooker Furnishings worth $778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of Hooker Furnishings by 9,630.8% in the first quarter. GAMMA Investing LLC now owns 5,060 shares of the company's stock valued at $504,000 after purchasing an additional 5,008 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Hooker Furnishings by 97.5% in the 4th quarter. Deutsche Bank AG now owns 14,494 shares of the company's stock valued at $203,000 after purchasing an additional 7,157 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Hooker Furnishings by 1.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 129,987 shares of the company's stock valued at $1,821,000 after purchasing an additional 1,535 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Hooker Furnishings by 13.3% during the fourth quarter. Bank of America Corp DE now owns 16,008 shares of the company's stock worth $224,000 after buying an additional 1,875 shares in the last quarter. Finally, 4WEALTH Advisors Inc. bought a new position in Hooker Furnishings in the fourth quarter valued at about $222,000. Institutional investors and hedge funds own 73.63% of the company's stock.

Hooker Furnishings Stock Up 1.8%

NASDAQ HOFT traded up $0.20 on Wednesday, reaching $11.48. The company had a trading volume of 98,154 shares, compared to its average volume of 58,334. The company has a quick ratio of 1.96, a current ratio of 3.94 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $122.84 million, a P/E ratio of -10.53, a P/E/G ratio of 5.81 and a beta of 1.37. Hooker Furnishings Corp. has a 52-week low of $7.34 and a 52-week high of $19.79. The company's fifty day moving average is $9.95 and its 200 day moving average is $11.40.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last released its earnings results on Thursday, June 12th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.13). Hooker Furnishings had a negative return on equity of 3.41% and a negative net margin of 2.95%. The firm had revenue of $85.32 million during the quarter, compared to analysts' expectations of $88.87 million. Sell-side analysts anticipate that Hooker Furnishings Corp. will post -0.44 earnings per share for the current fiscal year.

Hooker Furnishings Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $0.23 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.92 annualized dividend and a dividend yield of 8.01%. Hooker Furnishings's payout ratio is currently -84.40%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Hooker Furnishings from a "hold" rating to a "sell" rating in a research report on Sunday, April 20th.

Hooker Furnishings Company Profile

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.