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

Waterfront Wealth Inc. increased its holdings in Hooker Furnishings Corp. (NASDAQ:HOFT - Free Report) by 151.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,462 shares of the company's stock after buying 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 & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its holdings in shares of Hooker Furnishings by 225.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,074 shares of the company's stock valued at $43,000 after purchasing an additional 2,130 shares during the last quarter. Wells Fargo & Company MN grew 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 worth $87,000 after acquiring an additional 1,356 shares during the last quarter. Oak Hill Wealth Advisors LLC purchased a new stake in shares of Hooker Furnishings during the fourth quarter worth about $145,000. Deutsche Bank AG grew its stake in shares of Hooker Furnishings by 97.5% during the fourth quarter. Deutsche Bank AG now owns 14,494 shares of the company's stock worth $203,000 after acquiring an additional 7,157 shares during the last quarter. Finally, 4WEALTH Advisors Inc. purchased a new stake in shares of Hooker Furnishings during the fourth quarter worth about $222,000. Institutional investors own 73.63% of the company's stock.

Hooker Furnishings Price Performance

NASDAQ HOFT opened at $11.77 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.94 and a quick ratio of 1.96. The stock's fifty day moving average price is $9.87 and its 200 day moving average price is $11.49. Hooker Furnishings Corp. has a 1 year low of $7.34 and a 1 year high of $19.79. The company has a market cap of $125.94 million, a price-to-earnings ratio of -10.80, a PEG ratio of 6.47 and a beta of 1.37.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last posted 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). Hooker Furnishings had a negative net margin of 2.95% and a negative return on equity of 3.41%. The business had revenue of $85.32 million during the quarter, compared to analysts' expectations of $88.87 million. As a group, equities research analysts forecast that Hooker Furnishings Corp. will post -0.44 earnings per share for the current year.

Hooker Furnishings Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 7.82%. The ex-dividend date of this dividend is Monday, June 16th. Hooker Furnishings's payout ratio is -84.40%.

Wall Street Analyst Weigh In

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

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.

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