Traders Buy Large Volume of Haverty Furniture Companies Call Options (NYSE:HVT)

Key Points

• Haverty Furniture Companies saw unusually heavy call-option activity: Traders bought 2,639 call options, compared with an average volume of just seven—an increase of 37,600%.
• Shares rose $2.92 to $28.73, near the company’s 52-week high of $29.19. Haverty reported quarterly EPS of $0.25, topping analyst expectations of $0.23.
• The company pays a quarterly dividend of $0.33 per share, representing a 4.6% yield, though its 110% payout ratio exceeds earnings. Analysts maintain an overall “Hold” rating, while institutional investors own 80.57% of the stock.

Haverty Furniture Companies, Inc. (NYSE:HVT - Get Free Report) saw unusually large options trading on Tuesday. Traders bought 2,639 call options on the company. This is an increase of 37,600% compared to the average volume of 7 call options.

Haverty Furniture Companies Stock Performance

Shares of Haverty Furniture Companies stock traded up $2.92 on Tuesday, reaching $28.73. 40,283 shares of the company's stock were exchanged, compared to its average volume of 99,942. The company has a market capitalization of $462.49 million, a P/E ratio of 23.95, a price-to-earnings-growth ratio of 1.27 and a beta of 1.18. Haverty Furniture Companies has a 52 week low of $19.89 and a 52 week high of $29.19. The firm's 50-day moving average is $24.54 and its two-hundred day moving average is $23.77.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Haverty Furniture Companies had a net margin of 2.64% and a return on equity of 6.60%. On average, analysts expect that Haverty Furniture Companies will post 1.62 EPS for the current fiscal year.

Haverty Furniture Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 1st were issued a dividend of $0.33 per share. The ex-dividend date was Monday, June 1st. This represents a $1.32 annualized dividend and a dividend yield of 4.6%. Haverty Furniture Companies's dividend payout ratio is currently 110.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HVT. Royal Bank of Canada raised its position in shares of Haverty Furniture Companies by 13.8% during the first quarter. Royal Bank of Canada now owns 27,073 shares of the company's stock worth $534,000 after purchasing an additional 3,293 shares during the period. AQR Capital Management LLC grew its position in Haverty Furniture Companies by 30.5% in the 1st quarter. AQR Capital Management LLC now owns 162,821 shares of the company's stock worth $3,211,000 after purchasing an additional 38,074 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Haverty Furniture Companies by 7.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company's stock valued at $175,000 after buying an additional 651 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Haverty Furniture Companies by 7.4% in the 1st quarter. Empowered Funds LLC now owns 92,185 shares of the company's stock worth $1,818,000 after buying an additional 6,387 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Haverty Furniture Companies by 68.7% in the first quarter. Jane Street Group LLC now owns 172,099 shares of the company's stock valued at $3,394,000 after acquiring an additional 70,060 shares in the last quarter. 80.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wall Street Zen lowered shares of Haverty Furniture Companies from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Zacks Research raised shares of Haverty Furniture Companies from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Finally, Weiss Ratings downgraded shares of Haverty Furniture Companies from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold".

About Haverty Furniture Companies

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.

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