Hooker Furniture Co. (NASDAQ:HOFT) Stock Position Trimmed by Mackay Shields LLC

Mackay Shields LLC cut its position in Hooker Furniture Co. (NASDAQ:HOFT) by 24.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,500 shares of the company’s stock after selling 3,000 shares during the quarter. Mackay Shields LLC owned about 0.08% of Hooker Furniture worth $245,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. BNP Paribas Arbitrage SA lifted its position in Hooker Furniture by 552.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,715 shares of the company’s stock valued at $70,000 after purchasing an additional 2,299 shares during the last quarter. Captrust Financial Advisors acquired a new position in Hooker Furniture during the 2nd quarter valued at about $52,000. SG Americas Securities LLC acquired a new position in Hooker Furniture during the 2nd quarter valued at about $124,000. Poplar Forest Capital LLC acquired a new position in Hooker Furniture during the 3rd quarter valued at about $242,000. Finally, Hodges Capital Management Inc. acquired a new position in Hooker Furniture during the 3rd quarter valued at about $299,000. Hedge funds and other institutional investors own 87.80% of the company’s stock.

Several research firms have commented on HOFT. ValuEngine raised shares of Hooker Furniture from a “sell” rating to a “hold” rating in a research note on Friday, October 2nd. BidaskClub raised shares of Hooker Furniture from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 1st. Finally, Sidoti lifted their price objective on shares of Hooker Furniture from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, August 31st.

Shares of HOFT opened at $29.65 on Friday. The firm’s 50 day moving average is $28.98 and its 200-day moving average is $22.90. The stock has a market capitalization of $352.54 million, a P/E ratio of -19.13 and a beta of 0.78. Hooker Furniture Co. has a 12-month low of $12.30 and a 12-month high of $30.86.

Hooker Furniture (NASDAQ:HOFT) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.14. The company had revenue of $130.54 million for the quarter. Hooker Furniture had a negative net margin of 3.24% and a positive return on equity of 6.11%.

Hooker Furniture Profile

Hooker Furniture Corporation, together with its subsidiaries, designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. The company operates through three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers a range of design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand name; and imported upholstered furniture under the Hooker Upholstery brand.

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Institutional Ownership by Quarter for Hooker Furniture (NASDAQ:HOFT)

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