Gate City Capital Management LLC Invests $2.47 Million in Hooker Furnishings Corp. $HOFT

Gate City Capital Management LLC acquired a new position in shares of Hooker Furnishings Corp. (NASDAQ:HOFT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 218,928 shares of the company’s stock, valued at approximately $2,472,000. Hooker Furnishings comprises about 1.1% of Gate City Capital Management LLC’s investment portfolio, making the stock its 15th biggest position. Gate City Capital Management LLC owned about 2.03% of Hooker Furnishings as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of Hooker Furnishings by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 120,645 shares of the company’s stock worth $1,363,000 after purchasing an additional 1,100 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Hooker Furnishings by 16.6% during the fourth quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock worth $132,000 after purchasing an additional 1,660 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Hooker Furnishings by 7.2% during the first quarter. Empowered Funds LLC now owns 55,319 shares of the company’s stock worth $555,000 after purchasing an additional 3,696 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Hooker Furnishings by 0.7% during the third quarter. Vanguard Group Inc. now owns 595,587 shares of the company’s stock worth $6,045,000 after purchasing an additional 4,138 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of Hooker Furnishings by 40.0% during the third quarter. GSA Capital Partners LLP now owns 17,372 shares of the company’s stock worth $176,000 after purchasing an additional 4,959 shares during the last quarter. Institutional investors and hedge funds own 73.60% of the company’s stock.

Hooker Furnishings Trading Down 5.2%

Shares of Hooker Furnishings stock opened at $15.21 on Wednesday. Hooker Furnishings Corp. has a twelve month low of $8.61 and a twelve month high of $16.41. The stock has a market capitalization of $163.36 million, a P/E ratio of -7.07, a PEG ratio of 1.47 and a beta of 1.19. The business’s fifty day moving average price is $13.16 and its 200 day moving average price is $12.78.

Hooker Furnishings (NASDAQ:HOFT) last issued its earnings results on Thursday, June 11th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.17. Hooker Furnishings had a positive return on equity of 1.61% and a negative net margin of 7.90%.The firm had revenue of $69.45 million for the quarter, compared to analysts’ expectations of $66.31 million. As a group, sell-side analysts predict that Hooker Furnishings Corp. will post 0.78 EPS for the current year.

Hooker Furnishings Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 19th will be given a $0.115 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.46 annualized dividend and a yield of 3.0%. Hooker Furnishings’s dividend payout ratio (DPR) is -21.40%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HOFT shares. Weiss Ratings cut Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 18th. Zacks Research upgraded Hooker Furnishings from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Wall Street Zen upgraded Hooker Furnishings from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

About Hooker Furnishings

Hooker Furnishings, formerly known as Hooker Furniture Corporation, is a designer, marketer and distributor of high-quality home furnishings. Headquartered in Martinsville, Virginia, the company offers a broad range of wood and upholstered furniture products across bedroom, dining, home office and accent categories. Its portfolio includes solid wood and engineered wood case goods, upholstered seating, accent tables and decorative accessories, reflecting styles that range from traditional to contemporary.

The company’s operations are organized into three reportable segments: Domestic Wholesale, Retail and Logistics, and International.