Acuitas Investments LLC Invests $1.18 Million in Hooker Furnishings Co. (NASDAQ:HOFT)

Acuitas Investments LLC purchased a new stake in shares of Hooker Furnishings Co. (NASDAQ:HOFT) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 81,485 shares of the company’s stock, valued at approximately $1,180,000. Acuitas Investments LLC owned 0.76% of Hooker Furnishings as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Waterfront Wealth Inc. grew its holdings in Hooker Furnishings by 23.3% during the 2nd quarter. Waterfront Wealth Inc. now owns 55,125 shares of the company’s stock valued at $798,000 after purchasing an additional 10,428 shares during the last quarter. Azarias Capital Management L.P. raised its holdings in shares of Hooker Furnishings by 23.8% in the second quarter. Azarias Capital Management L.P. now owns 624,415 shares of the company’s stock worth $9,042,000 after buying an additional 120,219 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Hooker Furnishings by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 78,249 shares of the company’s stock worth $1,133,000 after acquiring an additional 2,452 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new position in Hooker Furnishings during the 2nd quarter valued at $198,000. Finally, Virtus Investment Advisers Inc. purchased a new position in Hooker Furnishings during the 1st quarter valued at $106,000. Hedge funds and other institutional investors own 73.63% of the company’s stock.

Insider Buying and Selling

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

Hooker Furnishings Stock Up 2.3 %

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

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates 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 prior year, the business posted $0.07 EPS. Research analysts expect that Hooker Furnishings Co. will post 0.09 EPS for the current year.

Hooker Furnishings Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.23 dividend. 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 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.