Acuitas Investments LLC Takes Position in Hooker Furnishings Co. (NASDAQ:HOFT)

Acuitas Investments LLC acquired a new position in Hooker Furnishings Co. (NASDAQ:HOFT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 81,485 shares of the company’s stock, valued at approximately $1,180,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new position in shares of Hooker Furnishings during the first quarter worth $77,000. Virtus Investment Advisers Inc. acquired a new position in Hooker Furnishings during the 1st quarter valued at about $106,000. Acadian Asset Management LLC purchased a new stake in Hooker Furnishings in the first quarter valued at about $107,000. BNP Paribas Financial Markets boosted its holdings in Hooker Furnishings by 71.8% in the first quarter. BNP Paribas Financial Markets now owns 5,191 shares of the company’s stock worth $125,000 after acquiring an additional 2,170 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Hooker Furnishings during the fourth quarter worth about $172,000. Hedge funds and other institutional investors own 73.63% of the company’s stock.

Insider Activity

In other news, Director Tonya Harris Jackson acquired 1,850 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were bought at an average cost of $13.61 per share, for a total transaction of $25,178.50. Following the acquisition, the director now owns 25,229 shares in the company, valued at approximately $343,366.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.70% of the company’s stock.

Hooker Furnishings Stock Performance

Hooker Furnishings stock opened at $15.88 on Friday. The business’s 50-day simple moving average is $14.84 and its two-hundred day simple moving average is $17.87. The company has a market cap of $169.63 million, a PE ratio of 40.72, a PEG ratio of 12.57 and a beta of 1.20. Hooker Furnishings Co. has a fifty-two week low of $13.09 and a fifty-two week high of $27.15.

Hooker Furnishings (NASDAQ:HOFT) last released its quarterly earnings data on Thursday, September 5th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.06). Hooker Furnishings had a net margin of 1.07% and a return on equity of 1.92%. During the same quarter in the previous year, the company earned $0.07 earnings per share. As a group, analysts predict that Hooker Furnishings Co. will post 0.09 EPS for the current fiscal year.

Hooker Furnishings Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.79%. Hooker Furnishings’s payout ratio is currently 235.90%.

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.