Insider Selling: Hooker Furniture Corporation (HOFT) Insider Sells $430,300.00 in Stock

Hooker Furniture Corporation (NASDAQ:HOFT) insider Michael W. Delgatti sold 10,000 shares of Hooker Furniture Corporation stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $43.03, for a total value of $430,300.00. Following the completion of the sale, the insider now directly owns 28,425 shares in the company, valued at approximately $1,223,127.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hooker Furniture Corporation (NASDAQ HOFT) opened at 43.60 on Friday. The stock has a 50 day moving average price of $41.99 and a 200-day moving average price of $40.00. Hooker Furniture Corporation has a one year low of $24.06 and a one year high of $46.60. The stock has a market cap of $504.50 million, a PE ratio of 16.91 and a beta of 0.62.

Hooker Furniture Corporation (NASDAQ:HOFT) last announced its earnings results on Thursday, September 7th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Hooker Furniture Corporation had a return on equity of 15.28% and a net margin of 4.94%. The business had revenue of $156.31 million during the quarter, compared to analysts’ expectations of $148.56 million. During the same quarter in the prior year, the firm earned $0.46 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. Equities research analysts expect that Hooker Furniture Corporation will post $2.78 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.10%. Hooker Furniture Corporation’s payout ratio is currently 18.53%.

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Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Hooker Furniture Corporation by 4.2% during the second quarter. Vanguard Group Inc. now owns 478,708 shares of the company’s stock valued at $19,699,000 after acquiring an additional 19,505 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Hooker Furniture Corporation by 6.3% in the first quarter. Renaissance Technologies LLC now owns 423,327 shares of the company’s stock valued at $13,144,000 after purchasing an additional 24,962 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Hooker Furniture Corporation by 5.5% in the second quarter. Northern Trust Corp now owns 414,839 shares of the company’s stock valued at $17,070,000 after purchasing an additional 21,530 shares during the last quarter. Punch & Associates Investment Management Inc. increased its holdings in shares of Hooker Furniture Corporation by 43.2% in the second quarter. Punch & Associates Investment Management Inc. now owns 288,685 shares of the company’s stock valued at $11,879,000 after purchasing an additional 87,040 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Hooker Furniture Corporation by 405.2% in the second quarter. JPMorgan Chase & Co. now owns 219,077 shares of the company’s stock valued at $9,015,000 after purchasing an additional 175,712 shares during the last quarter. 83.99% of the stock is owned by institutional investors and hedge funds.

Separately, BidaskClub upgraded Hooker Furniture Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 13th.

About Hooker Furniture Corporation

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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