Inspire Advisors LLC Increases Stock Position in Hooker Furnishings Co. (NASDAQ:HOFT)

Inspire Advisors LLC increased its position in shares of Hooker Furnishings Co. (NASDAQ:HOFT) by 56.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,534 shares of the company’s stock after buying an additional 7,422 shares during the period. Inspire Advisors LLC owned about 0.19% of Hooker Furnishings worth $371,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in HOFT. EntryPoint Capital LLC purchased a new stake in shares of Hooker Furnishings during the first quarter worth about $77,000. Virtus Investment Advisers Inc. purchased a new position in shares of Hooker Furnishings during the 1st quarter valued at approximately $106,000. Acadian Asset Management LLC acquired a new stake in shares of Hooker Furnishings during the first quarter worth approximately $107,000. BNP Paribas Financial Markets increased its stake in shares of 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 buying an additional 2,170 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in Hooker Furnishings in the second quarter valued at $198,000. Institutional investors and hedge funds own 73.63% of the company’s stock.

Hooker Furnishings Price Performance

NASDAQ HOFT opened at $16.51 on Friday. The company has a market capitalization of $176.36 million, a price-to-earnings ratio of 42.33 and a beta of 1.18. Hooker Furnishings Co. has a 12 month low of $13.09 and a 12 month high of $27.15. The company’s fifty day moving average price is $16.26 and its two-hundred day moving average price is $16.36.

Hooker Furnishings (NASDAQ:HOFT) last posted its quarterly earnings results on Thursday, September 5th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.06). The firm had revenue of $95.08 million for the quarter, compared to analyst estimates of $93.54 million. Hooker Furnishings had a net margin of 0.40% and a return on equity of 0.72%. During the same period in the prior year, the company posted $0.07 earnings per share. As a group, analysts anticipate that Hooker Furnishings Co. will post -0.25 EPS for the current year.

Hooker Furnishings Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 5.57%. The ex-dividend date was Friday, September 13th. Hooker Furnishings’s dividend payout ratio (DPR) is presently 235.90%.

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.