Hooker Furnishings (NASDAQ:HOFT) Stock Rating Upgraded by StockNews.com

Hooker Furnishings (NASDAQ:HOFT) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Monday.

Hooker Furnishings Price Performance

Hooker Furnishings stock traded up $0.34 during midday trading on Monday, hitting $13.75. 57,343 shares of the company’s stock were exchanged, compared to its average volume of 34,106. The stock has a 50-day moving average price of $16.96 and a two-hundred day moving average price of $15.96. Hooker Furnishings has a 52-week low of $13.00 and a 52-week high of $26.33. The company has a market cap of $147.26 million, a P/E ratio of -15.11 and a beta of 1.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.46 and a current ratio of 3.16.

Insider Buying and Selling at Hooker Furnishings

In related news, Director Paulette Garafalo sold 2,489 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $17.10, for a total value of $42,561.90. Following the transaction, the director now owns 20,783 shares of the company’s stock, valued at $355,389.30. This represents a 10.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hooker Furnishings

Hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. raised its holdings in shares of Hooker Furnishings by 18.0% during the 2nd quarter. American Century Companies Inc. now owns 204,614 shares of the company’s stock valued at $2,963,000 after buying an additional 31,261 shares in the last quarter. Foundry Partners LLC lifted its holdings in shares of Hooker Furnishings by 95.1% in the 2nd quarter. Foundry Partners LLC now owns 70,605 shares of the company’s stock worth $1,022,000 after acquiring an additional 34,410 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Hooker Furnishings by 9.5% during the 3rd quarter. Stifel Financial Corp now owns 44,003 shares of the company’s stock valued at $796,000 after purchasing an additional 3,827 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Hooker Furnishings by 26.4% during the 3rd quarter. HighTower Advisors LLC now owns 19,004 shares of the company’s stock valued at $344,000 after purchasing an additional 3,966 shares during the last quarter. Finally, Acuitas Investments LLC bought a new stake in Hooker Furnishings in the second quarter worth $1,180,000. 73.63% of the stock is currently owned by hedge funds and other institutional investors.

About Hooker Furnishings

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.