Waterfront Wealth Inc. Acquires 10,428 Shares of Hooker Furnishings Co. (NASDAQ:HOFT)

Waterfront Wealth Inc. raised its stake in shares of Hooker Furnishings Co. (NASDAQ:HOFT) by 23.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 55,125 shares of the company’s stock after acquiring an additional 10,428 shares during the period. Waterfront Wealth Inc.’s holdings in Hooker Furnishings were worth $798,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in HOFT. BNP Paribas Financial Markets boosted its holdings in Hooker Furnishings by 71.8% in the first quarter. BNP Paribas Financial Markets now owns 5,191 shares of the company’s stock worth $125,000 after purchasing an additional 2,170 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Hooker Furnishings by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 78,249 shares of the company’s stock valued at $1,133,000 after purchasing an additional 2,452 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Hooker Furnishings in the first quarter worth approximately $77,000. Virtus Investment Advisers Inc. bought a new stake in Hooker Furnishings during the first quarter valued at approximately $106,000. Finally, Acadian Asset Management LLC purchased a new stake in Hooker Furnishings during the first quarter valued at approximately $107,000. 73.63% of the stock is currently owned by institutional investors.

Insider Activity at Hooker Furnishings

In related news, Director Tonya Harris Jackson purchased 1,850 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were acquired at an average price of $13.61 per share, for a total transaction of $25,178.50. Following the purchase, the director now directly owns 25,229 shares in the company, valued at $343,366.69. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by corporate insiders.

Hooker Furnishings Stock Down 2.0 %

HOFT stock opened at $15.84 on Monday. The business’s 50-day moving average price is $14.71 and its 200-day moving average price is $18.04. The stock has a market cap of $169.20 million, a P/E ratio of 40.62, a PEG ratio of 12.57 and a beta of 1.20. Hooker Furnishings Co. has a twelve month low of $13.09 and a twelve month high of $27.15.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings data on Thursday, June 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.36). Hooker Furnishings had a net margin of 1.07% and a return on equity of 1.92%. The business had revenue of $93.57 million during the quarter, compared to analysts’ expectations of $94.94 million. On average, equities research analysts expect that Hooker Furnishings Co. will post 0.09 earnings per share for the current fiscal year.

Hooker Furnishings Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 5.81%. The ex-dividend date was Friday, June 14th. Hooker Furnishings’s dividend payout ratio (DPR) is presently 235.90%.

Hooker Furnishings 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.