Pzena Investment Management LLC Acquires 57,276 Shares of Hooker Furnishings Corp. $HOFT

Pzena Investment Management LLC grew its stake in shares of Hooker Furnishings Corp. (NASDAQ:HOFT) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,416,002 shares of the company’s stock after acquiring an additional 57,276 shares during the period. Pzena Investment Management LLC owned 13.17% of Hooker Furnishings worth $14,372,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. First Eagle Investment Management LLC boosted its stake in Hooker Furnishings by 35.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 317,414 shares of the company’s stock worth $3,358,000 after purchasing an additional 83,761 shares during the period. Azarias Capital Management L.P. lifted its holdings in shares of Hooker Furnishings by 33.6% in the third quarter. Azarias Capital Management L.P. now owns 473,179 shares of the company’s stock worth $4,803,000 after buying an additional 118,989 shares in the last quarter. Peapod Lane Capital LLC boosted its position in shares of Hooker Furnishings by 70.5% in the second quarter. Peapod Lane Capital LLC now owns 145,876 shares of the company’s stock valued at $1,543,000 after acquiring an additional 60,304 shares during the period. RBF Capital LLC purchased a new position in Hooker Furnishings during the second quarter valued at approximately $2,807,000. Finally, CSM Advisors LLC bought a new stake in Hooker Furnishings during the 2nd quarter worth approximately $1,169,000. 73.60% of the stock is currently owned by hedge funds and other institutional investors.

Hooker Furnishings Price Performance

Shares of NASDAQ HOFT opened at $14.63 on Friday. Hooker Furnishings Corp. has a 1 year low of $7.34 and a 1 year high of $15.99. The stock has a market capitalization of $157.71 million, a P/E ratio of -5.21, a P/E/G ratio of 1.15 and a beta of 1.39. The company’s 50-day moving average is $12.64 and its 200 day moving average is $10.93. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.67 and a quick ratio of 1.35.

Hooker Furnishings (NASDAQ:HOFT) last released its quarterly earnings results on Thursday, December 11th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.54. The company had revenue of $70.73 million for the quarter, compared to analyst estimates of $85.50 million. Hooker Furnishings had a negative return on equity of 1.07% and a negative net margin of 8.71%. On average, sell-side analysts expect that Hooker Furnishings Corp. will post -0.44 earnings per share for the current year.

Hooker Furnishings Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Sunday, December 21st were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, December 19th. Hooker Furnishings’s payout ratio is currently -16.37%.

Analyst Ratings Changes

Several brokerages have commented on HOFT. Zacks Research downgraded shares of Hooker Furnishings from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hooker Furnishings in a research note on Thursday, January 22nd. Finally, Wall Street Zen raised Hooker Furnishings from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Hooker Furnishings Profile

Hooker Furnishings, formerly known as Hooker Furniture Corporation, is a designer, marketer and distributor of high-quality home furnishings. Headquartered in Martinsville, Virginia, the company offers a broad range of wood and upholstered furniture products across bedroom, dining, home office and accent categories. Its portfolio includes solid wood and engineered wood case goods, upholstered seating, accent tables and decorative accessories, reflecting styles that range from traditional to contemporary.

The company’s operations are organized into three reportable segments: Domestic Wholesale, Retail and Logistics, and International.