Hooker Furnishings Corp. $HOFT Stock: Pzena Investment Management LLC Cuts Position

Pzena Investment Management LLC trimmed its stake in Hooker Furnishings Corp. (NASDAQ:HOFT) by 2.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,505,752 shares of the company’s stock after selling 36,871 shares during the quarter. Pzena Investment Management LLC owned about 0.14% of Hooker Furnishings worth $19,545,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Donald Smith & CO. Inc. bought a new stake in Hooker Furnishings during the second quarter valued at about $16,982,000. BlackRock Inc. purchased a new position in Hooker Furnishings in the second quarter valued at about $4,156,000. Ancora Advisors LLC bought a new position in Hooker Furnishings in the second quarter worth about $1,501,000. Bank of New York Mellon Corp bought a new position in Hooker Furnishings in the second quarter worth about $588,000. Finally, Empowered Funds LLC purchased a new stake in shares of Hooker Furnishings during the second quarter valued at about $555,000. 73.60% of the stock is currently owned by hedge funds and other institutional investors.

Hooker Furnishings Stock Performance

Hooker Furnishings stock opened at $14.61 on Friday. The business’s 50-day simple moving average is $13.20 and its two-hundred day simple moving average is $13.71. The company has a market cap of $156.18 million, a PE ratio of -8.64, a PEG ratio of 2.08 and a beta of 1.15. Hooker Furnishings Corp. has a fifty-two week low of $8.88 and a fifty-two week high of $18.09.

Hooker Furnishings Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a $0.1150 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.46 dividend on an annualized basis and a yield of 3.1%. Hooker Furnishings’s dividend payout ratio is currently -27.22%.

Analyst Ratings Changes

HOFT has been the topic of a number of recent analyst reports. Zacks Research cut shares of Hooker Furnishings from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Weiss Ratings downgraded shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, October 9th. Finally, Wall Street Zen lowered shares of Hooker Furnishings from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 20th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

About Hooker Furnishings

Hooker Furnishings Corporation is a home furnishings company that designs, manufactures, imports and markets residential furniture. Its product offerings include bedroom, dining room, living room, home office and occasional furniture, along with upholstered seating and outdoor furnishings.

The company markets products under brands that include Hooker Furniture, Home Meridian, Sam Moore, Sunset West and BOOMER. Its portfolio spans casegoods, motion and stationary upholstery, leather furniture, outdoor furniture and other home décor products.