Tygh Capital Management Inc. Buys New Position in Hooker Furniture Corporation (HOFT)

Tygh Capital Management Inc. bought a new position in Hooker Furniture Corporation (NASDAQ:HOFT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 87,916 shares of the company’s stock, valued at approximately $3,618,000. Tygh Capital Management Inc. owned approximately 0.76% of Hooker Furniture Corporation at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of HOFT. American International Group Inc. boosted its position in shares of Hooker Furniture Corporation by 7.1% in the first quarter. American International Group Inc. now owns 6,988 shares of the company’s stock worth $217,000 after buying an additional 464 shares in the last quarter. EAM Investors LLC boosted its position in shares of Hooker Furniture Corporation by 29.0% in the first quarter. EAM Investors LLC now owns 96,282 shares of the company’s stock worth $2,990,000 after buying an additional 21,670 shares in the last quarter. Martingale Asset Management L P boosted its position in shares of Hooker Furniture Corporation by 20.6% in the first quarter. Martingale Asset Management L P now owns 49,704 shares of the company’s stock worth $1,544,000 after buying an additional 8,500 shares in the last quarter. Oxford Asset Management purchased a new position in shares of Hooker Furniture Corporation during the first quarter worth about $414,000. Finally, Hillsdale Investment Management Inc. boosted its position in shares of Hooker Furniture Corporation by 11.5% in the first quarter. Hillsdale Investment Management Inc. now owns 29,200 shares of the company’s stock worth $907,000 after buying an additional 3,000 shares in the last quarter. Institutional investors own 84.20% of the company’s stock.

Hooker Furniture Corporation (NASDAQ:HOFT) opened at 39.25 on Friday. The company has a 50 day moving average price of $42.35 and a 200-day moving average price of $39.01. Hooker Furniture Corporation has a one year low of $22.79 and a one year high of $46.60. The company has a market capitalization of $453.53 million, a PE ratio of 16.57 and a beta of 0.60.

Hooker Furniture Corporation (NASDAQ:HOFT) last announced its quarterly earnings results on Thursday, June 8th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.05. Hooker Furniture Corporation had a net margin of 4.70% and a return on equity of 14.53%. The company had revenue of $130.90 million during the quarter, compared to analysts’ expectations of $133.83 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. The company’s revenue was up 7.5% compared to the same quarter last year. Analysts expect that Hooker Furniture Corporation will post $2.67 EPS for the current fiscal year.

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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.