Azarias Capital Management L.P. Sells 131,517 Shares of Hooker Furnishings Corp. $HOFT

Azarias Capital Management L.P. lowered its holdings in shares of Hooker Furnishings Corp. (NASDAQ:HOFT) by 27.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,190 shares of the company’s stock after selling 131,517 shares during the period. Hooker Furnishings makes up 1.7% of Azarias Capital Management L.P.’s investment portfolio, making the stock its 21st largest holding. Azarias Capital Management L.P. owned about 3.31% of Hooker Furnishings worth $3,747,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Waterfront Wealth Inc. boosted its stake in Hooker Furnishings by 151.6% during the first quarter. Waterfront Wealth Inc. now owns 77,462 shares of the company’s stock worth $778,000 after acquiring an additional 46,678 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Hooker Furnishings by 250.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 110,471 shares of the company’s stock worth $1,109,000 after acquiring an additional 78,940 shares in the last quarter. Bank of America Corp DE boosted its stake in Hooker Furnishings by 13.3% during the fourth quarter. Bank of America Corp DE now owns 16,008 shares of the company’s stock worth $224,000 after acquiring an additional 1,875 shares in the last quarter. Paradigm Capital Management Inc. NY bought a new stake in Hooker Furnishings during the first quarter worth about $803,000. Finally, GAMMA Investing LLC boosted its stake in Hooker Furnishings by 9,630.8% during the first quarter. GAMMA Investing LLC now owns 5,060 shares of the company’s stock worth $504,000 after acquiring an additional 5,008 shares in the last quarter. Institutional investors own 73.60% of the company’s stock.

Hooker Furnishings Trading Down 3.9%

Shares of NASDAQ HOFT opened at $9.97 on Friday. The firm’s 50 day moving average price is $10.21 and its 200-day moving average price is $10.09. The company has a market cap of $107.18 million, a PE ratio of -8.24 and a beta of 1.37. Hooker Furnishings Corp. has a 52-week low of $7.34 and a 52-week high of $19.79. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 2.99.

Hooker Furnishings (NASDAQ:HOFT) last issued its earnings results on Thursday, September 11th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.19). The firm had revenue of $82.15 million during the quarter, compared to the consensus estimate of $91.21 million. Hooker Furnishings had a negative return on equity of 4.17% and a negative net margin of 3.40%.During the same quarter in the prior year, the company posted ($0.19) EPS. On average, equities research analysts expect that Hooker Furnishings Corp. will post -0.44 EPS for the current fiscal year.

Hooker Furnishings Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 9.2%. The ex-dividend date of this dividend was Friday, September 19th. Hooker Furnishings’s payout ratio is presently -76.03%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Hooker Furnishings in a research note on Saturday, September 27th. Zacks Research lowered shares of Hooker Furnishings from a “hold” rating to a “strong sell” rating in a research note on Friday, September 12th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Hooker Furnishings presently has an average rating of “Sell”.

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.