Short Interest in Hooker Furnishings Co. (NASDAQ:HOFT) Decreases By 6.7%

Hooker Furnishings Co. (NASDAQ:HOFT) was the recipient of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 161,800 shares, a decrease of 6.7% from the November 15th total of 173,400 shares. Based on an average daily volume of 23,700 shares, the days-to-cover ratio is presently 6.8 days. Currently, 1.5% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Hooker Furnishings from a “hold” rating to a “sell” rating in a research note on Thursday.

Hedge Funds Weigh In On Hooker Furnishings

Hedge funds have recently modified their holdings of the stock. Copeland Capital Management LLC acquired a new position in shares of Hooker Furnishings in the 3rd quarter worth approximately $37,000. Acadian Asset Management LLC increased its holdings in Hooker Furnishings by 15.7% during the 2nd quarter. Acadian Asset Management LLC now owns 5,179 shares of the company’s stock valued at $74,000 after purchasing an additional 703 shares in the last quarter. Baron Wealth Management LLC acquired a new stake in Hooker Furnishings during the 3rd quarter valued at $215,000. Inspire Advisors LLC acquired a new stake in Hooker Furnishings during the 2nd quarter valued at $190,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in Hooker Furnishings during the 2nd quarter valued at $198,000. 73.63% of the stock is owned by institutional investors and hedge funds.

Hooker Furnishings Stock Performance

Shares of HOFT stock traded up $0.22 during mid-day trading on Monday, reaching $17.15. The stock had a trading volume of 40,230 shares, compared to its average volume of 32,896. The firm’s 50 day simple moving average is $17.34 and its 200 day simple moving average is $16.05. The company has a quick ratio of 1.46, a current ratio of 3.16 and a debt-to-equity ratio of 0.10. Hooker Furnishings has a one year low of $13.09 and a one year high of $27.15. The firm has a market cap of $183.68 million, a PE ratio of -18.60 and a beta of 1.22.

Hooker Furnishings Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.36%. Hooker Furnishings’s dividend payout ratio is currently -101.10%.

About Hooker Furnishings

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.