Hooker Furnishings Corp. (NASDAQ:HOFT) Short Interest Update

Key Points

• Short interest in Hooker Furnishings Corp. (NASDAQ:HOFT) has decreased by 19.4% in August, dropping from 241,800 shares to 194,800 shares.
• The company reported a net loss of ($0.29) EPS for the last quarter, missing expectations and generating revenue of $85.32 million against a forecast of $88.87 million.
• Institutional investors own 73.60% of Hooker Furnishings, indicating significant confidence from larger investment firms, while Zacks Research has recently upgraded the stock to a "hold" rating.

Hooker Furnishings Corp. (NASDAQ:HOFT - Get Free Report) was the target of a significant decrease in short interest in August. As of August 15th, there was short interest totaling 194,800 shares, a decrease of 19.4% from the July 31st total of 241,800 shares. Based on an average trading volume of 94,800 shares, the short-interest ratio is presently 2.1 days. Currently, 1.9% of the shares of the company are short sold. Currently, 1.9% of the shares of the company are short sold. Based on an average trading volume of 94,800 shares, the short-interest ratio is presently 2.1 days.

Institutional Trading of Hooker Furnishings

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its position in Hooker Furnishings by 940.0% during the 2nd quarter. Osaic Holdings Inc. now owns 10,400 shares of the company's stock valued at $110,000 after purchasing an additional 9,400 shares during the period. Paradigm Capital Management Inc. NY grew its position in shares of Hooker Furnishings by 50.0% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 120,000 shares of the company's stock worth $1,270,000 after buying an additional 40,000 shares during the period. Brevan Howard Capital Management LP acquired a new stake in shares of Hooker Furnishings during the 2nd quarter worth approximately $231,000. Ameriprise Financial Inc. acquired a new stake in shares of Hooker Furnishings during the 2nd quarter worth approximately $3,619,000. Finally, PDT Partners LLC acquired a new stake in shares of Hooker Furnishings during the 2nd quarter worth approximately $190,000. Institutional investors and hedge funds own 73.60% of the company's stock.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Hooker Furnishings to a "hold" rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold".

Hooker Furnishings Trading Down 3.6%

Shares of Hooker Furnishings stock traded down $0.39 on Friday, hitting $10.34. The stock had a trading volume of 58,584 shares, compared to its average volume of 38,308. The stock has a 50 day moving average of $10.34 and a 200 day moving average of $10.25. Hooker Furnishings has a twelve month low of $7.34 and a twelve month high of $19.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.96 and a current ratio of 3.94. The firm has a market capitalization of $110.67 million, a P/E ratio of -8.55, a PEG ratio of 5.68 and a beta of 1.32.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last released its quarterly earnings data on Thursday, September 11th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.19). Hooker Furnishings had a negative net margin of 3.40% and a negative return on equity of 4.11%. The firm had revenue of $82.15 million during the quarter, compared to analyst estimates of $91.21 million. During the same period in the prior year, the company earned ($0.19) EPS. Sell-side analysts expect that Hooker Furnishings will post -0.44 earnings per share for the current fiscal year.

Hooker Furnishings Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 8.9%. The ex-dividend date of this dividend is Friday, September 19th. Hooker Furnishings's dividend payout ratio is currently -76.03%.

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.