Ancora Advisors LLC Sells 1,880 Shares of Hooker Furnishings Co. (NASDAQ:HOFT)

Ancora Advisors LLC lessened its holdings in shares of Hooker Furnishings Co. (NASDAQ:HOFT) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,810 shares of the company’s stock after selling 1,880 shares during the period. Ancora Advisors LLC owned 0.64% of Hooker Furnishings worth $1,652,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of HOFT. SG Americas Securities LLC boosted its stake in Hooker Furnishings by 18.5% in the 4th quarter. SG Americas Securities LLC now owns 7,262 shares of the company’s stock worth $189,000 after purchasing an additional 1,135 shares in the last quarter. Bailard Inc. bought a new position in Hooker Furnishings in the 4th quarter worth about $243,000. Hillsdale Investment Management Inc. bought a new position in Hooker Furnishings in the 4th quarter worth about $172,000. Los Angeles Capital Management LLC boosted its stake in Hooker Furnishings by 747.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 89,088 shares of the company’s stock worth $2,139,000 after purchasing an additional 78,576 shares in the last quarter. Finally, American National Bank & Trust Co. VA bought a new position in Hooker Furnishings in the 1st quarter worth about $357,000. Institutional investors own 73.63% of the company’s stock.

Insiders Place Their Bets

In other Hooker Furnishings news, Director Tonya Harris Jackson purchased 1,850 shares of Hooker Furnishings stock in a transaction dated Friday, June 21st. The stock was purchased at an average price of $13.61 per share, with a total value of $25,178.50. Following the transaction, the director now directly owns 25,229 shares of the company’s stock, valued at $343,366.69. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.70% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Hooker Furnishings from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th.

Hooker Furnishings Stock Performance

Shares of NASDAQ:HOFT opened at $15.27 on Thursday. Hooker Furnishings Co. has a fifty-two week low of $13.09 and a fifty-two week high of $27.15. The business has a 50-day simple moving average of $14.95 and a two-hundred day simple moving average of $19.49. The firm has a market cap of $163.08 million, a price-to-earnings ratio of 39.15, a price-to-earnings-growth ratio of 12.11 and a beta of 1.20.

Hooker Furnishings (NASDAQ:HOFT) last issued its earnings results on Thursday, June 6th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.36). Hooker Furnishings had a return on equity of 1.92% and a net margin of 1.07%. The business had revenue of $93.57 million during the quarter, compared to analysts’ expectations of $94.94 million. As a group, research analysts predict that Hooker Furnishings Co. will post 0.09 earnings per share for the current year.

Hooker Furnishings Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date of this dividend was Friday, June 14th. Hooker Furnishings’s dividend payout ratio (DPR) is 235.90%.

Hooker Furnishings 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.