Hooker Furnishings (NASDAQ:HOFT) Lowered to “Sell” Rating by StockNews.com

Hooker Furnishings (NASDAQ:HOFT) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Hooker Furnishings Stock Performance

Shares of Hooker Furnishings stock traded up $0.54 during trading on Thursday, hitting $17.82. 46,351 shares of the stock were exchanged, compared to its average volume of 32,904. The stock’s fifty day moving average is $17.33 and its 200 day moving average is $16.06. Hooker Furnishings has a 12 month low of $13.09 and a 12 month high of $27.15. The stock has a market cap of $190.85 million, a PE ratio of -19.58 and a beta of 1.22.

Institutional Investors Weigh In On Hooker Furnishings

Several hedge funds and other institutional investors have recently bought and sold shares of HOFT. American Century Companies Inc. grew its stake in shares of Hooker Furnishings by 18.0% in the 2nd quarter. American Century Companies Inc. now owns 204,614 shares of the company’s stock worth $2,963,000 after purchasing an additional 31,261 shares during the last quarter. Azarias Capital Management L.P. raised its position in shares of Hooker Furnishings by 23.8% during the second quarter. Azarias Capital Management L.P. now owns 624,415 shares of the company’s stock worth $9,042,000 after purchasing an additional 120,219 shares during the period. Foundry Partners LLC boosted its position 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 valued at $1,022,000 after purchasing an additional 34,410 shares during the period. Acuitas Investments LLC acquired a new stake in Hooker Furnishings during the 2nd quarter worth about $1,180,000. Finally, Acadian Asset Management LLC lifted its stake in Hooker Furnishings by 15.7% during the second quarter. Acadian Asset Management LLC now owns 5,179 shares of the company’s stock valued at $74,000 after buying an additional 703 shares in the last quarter. 73.63% of the stock is currently owned by institutional investors.

Hooker Furnishings Company Profile

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.