Ethan Allen Interiors Inc. (NYSE:ETD) Sees Large Drop in Short Interest

Ethan Allen Interiors Inc. (NYSE:ETD) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 2,550,000 shares, a drop of 6.6% from the November 15th total of 2,730,000 shares. Based on an average trading volume of 276,000 shares, the days-to-cover ratio is presently 9.2 days. Currently, 10.8% of the company’s shares are short sold.

Insider Transactions at Ethan Allen Interiors

In other Ethan Allen Interiors news, CEO M Farooq Kathwari sold 10,000 shares of Ethan Allen Interiors stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $30.87, for a total value of $308,700.00. Following the completion of the sale, the chief executive officer now directly owns 1,698,905 shares in the company, valued at approximately $52,445,197.35. The trade was a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 30,000 shares of company stock worth $913,800 over the last ninety days. 10.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Ethan Allen Interiors

Several hedge funds and other institutional investors have recently modified their holdings of ETD. Assenagon Asset Management S.A. increased its holdings in shares of Ethan Allen Interiors by 16.9% during the second quarter. Assenagon Asset Management S.A. now owns 71,629 shares of the company’s stock valued at $1,998,000 after acquiring an additional 10,354 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Ethan Allen Interiors by 12.7% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 67,316 shares of the company’s stock valued at $1,877,000 after buying an additional 7,608 shares during the last quarter. Joule Financial LLC purchased a new position in shares of Ethan Allen Interiors during the second quarter valued at approximately $444,000. SummerHaven Investment Management LLC boosted its position in shares of Ethan Allen Interiors by 2.1% during the second quarter. SummerHaven Investment Management LLC now owns 25,740 shares of the company’s stock valued at $718,000 after buying an additional 537 shares during the last quarter. Finally, Miller Howard Investments Inc. NY boosted its position in shares of Ethan Allen Interiors by 2.2% during the second quarter. Miller Howard Investments Inc. NY now owns 17,536 shares of the company’s stock valued at $489,000 after buying an additional 371 shares during the last quarter. Institutional investors own 83.80% of the company’s stock.

Ethan Allen Interiors Stock Performance

Shares of NYSE ETD traded down $0.48 during midday trading on Monday, hitting $29.68. 276,942 shares of the stock traded hands, compared to its average volume of 227,159. The company has a market cap of $754.76 million, a PE ratio of 12.21 and a beta of 1.30. Ethan Allen Interiors has a one year low of $26.53 and a one year high of $35.62. The business has a 50 day moving average price of $29.81 and a two-hundred day moving average price of $29.70.

Ethan Allen Interiors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.39 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.56 annualized dividend and a dividend yield of 5.26%. Ethan Allen Interiors’s dividend payout ratio is 63.16%.

Analyst Ratings Changes

Separately, Telsey Advisory Group reiterated a “market perform” rating and issued a $32.00 target price on shares of Ethan Allen Interiors in a report on Thursday, October 31st.

Ethan Allen Interiors Company Profile

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. The company operates in two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery comprising fabric-covered items, such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings.