BidaskClub cut shares of Hooker Furniture (NASDAQ:HOFT) from a sell rating to a strong sell rating in a report released on Saturday morning.

Hooker Furniture (NASDAQ HOFT) opened at $36.90 on Friday. Hooker Furniture has a one year low of $29.75 and a one year high of $52.75. The company has a current ratio of 3.53, a quick ratio of 2.07 and a debt-to-equity ratio of 0.21. The company has a market cap of $435.80, a PE ratio of 13.98 and a beta of 0.48.

Hooker Furniture (NASDAQ:HOFT) last posted its quarterly earnings data on Thursday, December 7th. The company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.04). Hooker Furniture had a net margin of 4.96% and a return on equity of 14.89%. The company had revenue of $157.90 million for the quarter, compared to analyst estimates of $160.02 million. During the same period in the prior year, the company earned $0.56 EPS. The company’s revenue was up 8.7% compared to the same quarter last year.

In other news, insider Michael W. Delgatti sold 6,847 shares of the company’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $42.53, for a total transaction of $291,202.91. Following the completion of the transaction, the insider now owns 17,972 shares of the company’s stock, valued at approximately $764,349.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its stake in shares of Hooker Furniture by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,287 shares of the company’s stock valued at $383,000 after acquiring an additional 187 shares during the last quarter. Legal & General Group Plc increased its position in Hooker Furniture by 40.0% during the 2nd quarter. Legal & General Group Plc now owns 2,424 shares of the company’s stock worth $100,000 after purchasing an additional 693 shares in the last quarter. Morgan Dempsey Capital Management LLC increased its position in Hooker Furniture by 5.3% during the 3rd quarter. Morgan Dempsey Capital Management LLC now owns 28,132 shares of the company’s stock worth $1,308,000 after purchasing an additional 1,422 shares in the last quarter. Citadel Advisors LLC increased its position in Hooker Furniture by 24.7% during the 2nd quarter. Citadel Advisors LLC now owns 8,122 shares of the company’s stock worth $334,000 after purchasing an additional 1,607 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Hooker Furniture by 1,417.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,217 shares of the company’s stock worth $154,000 after purchasing an additional 3,005 shares in the last quarter. 85.26% of the stock is owned by institutional investors.

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About Hooker Furniture

Hooker Furniture Corporation is a home furnishings marketing, design and logistics company offering sourcing of residential casegoods and upholstery, as well as domestically-produced leather and fabric-upholstered furniture. The Company operates through three segments: casegoods furniture, upholstered furniture and all other.

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