M Farooq Kathwari Sells 22,811 Shares of Ethan Allen Interiors (NYSE:ETD) Stock

Key Points

• CEO M. Farooq Kathwari sold 22,811 Ethan Allen shares at an average price of $25.04, generating $571,187.44. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his stake by 1.53%.
• Ethan Allen exceeded quarterly EPS expectations, reporting $0.36 versus the $0.34 consensus, but revenue fell 8.5% year over year to $146.75 million. The company also declared a special $3.00-per-share dividend payable September 17.
• Analysts remain cautious: the stock carries an average “Sell” rating and a $22 price target, while institutional investors own 83.8% of the company.

Ethan Allen Interiors Inc. (NYSE:ETD - Get Free Report) CEO M Farooq Kathwari sold 22,811 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $25.04, for a total transaction 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. This trade represents a 1.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

M Farooq Kathwari also recently made the following trade(s):

• On Wednesday, September 2nd, M Farooq Kathwari sold 1,063 shares of Ethan Allen Interiors stock. The shares were sold at an average price of $25.04, for a total value of $26,617.52.

Ethan Allen Interiors Stock Performance

ETD traded up $0.82 during midday trading on Wednesday, hitting $24.77. The company had a trading volume of 1,522,320 shares, compared to its average volume of 575,835. The company has a market capitalization of $630.29 million, a PE ratio of 15.88 and a beta of 1.03. The firm's 50-day simple moving average is $22.87 and its 200-day simple moving average is $22.10. Ethan Allen Interiors Inc. has a twelve month low of $18.28 and a twelve month high of $30.80.

Ethan Allen Interiors (NYSE:ETD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. The firm had revenue of $146.75 million for the quarter, compared to the consensus estimate of $148.70 million. Ethan Allen Interiors had a return on equity of 7.88% and a net margin of 6.88%.The business's revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 EPS. As a group, sell-side analysts anticipate that Ethan Allen Interiors Inc. will post 1.3 EPS for the current fiscal year.

Ethan Allen Interiors Dividend Announcement

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 given a dividend of $3.00 per share. The ex-dividend date is Thursday, September 3rd. Ethan Allen Interiors's payout ratio is currently 100.00%.

Hedge Funds Weigh In On Ethan Allen Interiors

A number of hedge funds and other institutional investors have recently bought and sold shares of ETD. Bank of America Corp DE lifted its position in shares of Ethan Allen Interiors by 46.8% in the first quarter. Bank of America Corp DE now owns 151,994 shares of the company's stock valued at $3,383,000 after buying an additional 48,427 shares during the last quarter. PDT Partners LLC bought a new position in shares of Ethan Allen Interiors during the 2nd quarter worth approximately $2,063,000. Landscape Capital Management L.L.C. acquired a new position in shares of Ethan Allen Interiors during the 2nd quarter worth approximately $2,762,000. BlackRock Inc. acquired a new position in shares of Ethan Allen Interiors during the 2nd quarter worth approximately $54,163,000. Finally, Empowered Funds LLC bought a new stake in Ethan Allen Interiors in the 1st quarter valued at $1,958,000. Institutional investors own 83.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ETD. Telsey Advisory Group reduced their price objective on shares of 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. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Ethan Allen Interiors in a research report on Friday, July 31st. Finally, Zacks Research lowered Ethan Allen Interiors from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Ethan Allen Interiors presently has an average rating of "Sell" and an average target price of $22.00.

Ethan Allen Interiors Company Profile

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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