Hooker Furnishings (NASDAQ:HOFT) Shares Cross Above 200 Day Moving Average - Here's What Happened

Hooker Furnishings Corp. (NASDAQ:HOFT - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.53 and traded as high as $12.09. Hooker Furnishings shares last traded at $11.77, with a volume of 1,792,007 shares traded.

Analyst Ratings Changes

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

Hooker Furnishings Price Performance

The firm has a market cap of $125.94 million, a P/E ratio of -10.80, a PEG ratio of 6.47 and a beta of 1.37. The business's fifty day simple moving average is $9.87 and its 200-day simple moving average is $11.49. The company has a current ratio of 3.94, a quick ratio of 1.96 and a debt-to-equity ratio of 0.11.

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

Hooker Furnishings Announces Dividend

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

Hedge Funds Weigh In On Hooker Furnishings

Large investors have recently modified their holdings of the company. Pzena Investment Management LLC boosted its stake in Hooker Furnishings by 3.8% during the fourth quarter. Pzena Investment Management LLC now owns 1,335,593 shares of the company's stock valued at $18,712,000 after buying an additional 49,212 shares during the period. Bank of America Corp DE raised its holdings in shares of Hooker Furnishings by 13.3% in the 4th quarter. Bank of America Corp DE now owns 16,008 shares of the company's stock valued at $224,000 after acquiring an additional 1,875 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of Hooker Furnishings by 95.5% during the 4th quarter. First Eagle Investment Management LLC now owns 113,909 shares of the company's stock valued at $1,596,000 after acquiring an additional 55,629 shares during the last quarter. Deutsche Bank AG grew its holdings 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 purchasing an additional 7,157 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Hooker Furnishings by 9,630.8% during the first quarter. GAMMA Investing LLC now owns 5,060 shares of the company's stock worth $504,000 after purchasing an additional 5,008 shares in the last quarter. 73.63% of the stock is currently owned by institutional investors.

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.