Ethan Allen Interiors (NYSE:ETD) Shares Gap Down After Insider Selling

Shares of Ethan Allen Interiors Inc. (NYSE:ETD) gapped down prior to trading on Thursday following insider selling activity. The stock had previously closed at $24.71, but opened at $21.82. Ethan Allen Interiors shares last traded at $21.9960, with a volume of 105,843 shares trading hands.

Specifically, CEO M Farooq Kathwari sold 1,063 shares of Ethan Allen Interiors stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $25.04, for a total transaction of $26,617.52. Following the completion of the sale, the chief executive officer directly owned 22,077 shares in the company, valued at $552,808.08. This trade represents a 4.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO M Farooq Kathwari sold 22,811 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $25.04, for a total transaction of $571,187.44. Following the completion of the sale, the chief executive officer directly owned 1,465,530 shares in the company, valued at $36,696,871.20. This trade represents a 1.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Zacks Research cut shares of Ethan Allen Interiors from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of Ethan Allen Interiors in a research report on Friday, July 31st. Finally, Telsey Advisory Group decreased their price target on Ethan Allen Interiors from $24.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Sell” and a consensus target price of $22.00.

Ethan Allen Interiors Price Performance

The company has a market capitalization of $560.38 million, a PE ratio of 14.11 and a beta of 1.03. The stock’s 50 day simple moving average is $22.87 and its 200-day simple moving average is $22.10.

Ethan Allen Interiors (NYSE:ETD) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. The business had revenue of $146.75 million during the quarter, compared to analyst estimates of $148.70 million. Ethan Allen Interiors had a net margin of 6.88% and a return on equity of 7.88%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 earnings per share. On average, equities analysts predict that Ethan Allen Interiors Inc. will post 1.3 earnings per share for the current year.

Ethan Allen Interiors Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd will be given a $3.00 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. Ethan Allen Interiors’s dividend payout ratio (DPR) is currently 100.00%.

Hedge Funds Weigh In On Ethan Allen Interiors

Institutional investors have recently modified their holdings of the business. AQR Capital Management LLC raised its stake in shares of Ethan Allen Interiors by 1.5% in the first quarter. AQR Capital Management LLC now owns 114,494 shares of the company’s stock valued at $3,171,000 after acquiring an additional 1,655 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Ethan Allen Interiors by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,544 shares of the company’s stock worth $375,000 after buying an additional 538 shares in the last quarter. Jane Street Group LLC grew its position in shares of Ethan Allen Interiors by 31.2% during the first quarter. Jane Street Group LLC now owns 371,979 shares of the company’s stock worth $10,304,000 after buying an additional 88,383 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Ethan Allen Interiors by 3.9% during the second quarter. First Trust Advisors LP now owns 81,299 shares of the company’s stock worth $2,264,000 after buying an additional 3,086 shares during the period. Finally, Walleye Capital LLC purchased a new stake in shares of Ethan Allen Interiors during the second quarter worth approximately $682,000. Institutional investors and hedge funds own 83.80% of the company’s stock.

Ethan Allen Interiors Company Profile

Ethan Allen Interiors Inc (NYSE: ETD) is a vertically integrated manufacturer and retailer of home furnishings, offering a broad range of furniture, upholstery, case goods and decorative accessories. The company designs and produces the majority of its products in its own North American manufacturing facilities, maintaining close control over quality, craftsmanship and production schedules. Through its network of company-operated and franchised Design Centers and galleries, Ethan Allen delivers a full-service offering that includes on-site interior design consultations and project management.

Founded in 1932 as a small Colonial-Revival furniture maker in northern Vermont, Ethan Allen has grown into a global brand known for its timeless styles and customization options.