Haverty Furniture Companies, Inc. (NYSE:HVT) Short Interest Up 6.7% in May

Haverty Furniture Companies, Inc. (NYSE:HVTGet Free Report) was the target of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,270,000 shares, an increase of 6.7% from the May 15th total of 1,190,000 shares. Currently, 9.6% of the shares of the company are sold short. Based on an average daily volume of 106,700 shares, the days-to-cover ratio is presently 11.9 days.

Haverty Furniture Companies Price Performance

Shares of HVT traded up $0.62 during midday trading on Wednesday, hitting $27.57. 321,040 shares of the company traded hands, compared to its average volume of 147,139. The stock has a 50-day moving average of $28.97 and a 200-day moving average of $32.21. Haverty Furniture Companies has a one year low of $25.14 and a one year high of $37.05. The firm has a market cap of $447.74 million, a P/E ratio of 10.03, a PEG ratio of 1.50 and a beta of 1.42.

Haverty Furniture Companies (NYSE:HVTGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.19). Haverty Furniture Companies had a net margin of 5.64% and a return on equity of 14.98%. The company had revenue of $184.00 million for the quarter, compared to the consensus estimate of $192.70 million. Sell-side analysts forecast that Haverty Furniture Companies will post 1.5 EPS for the current fiscal year.

Haverty Furniture Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 24th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This is a boost from Haverty Furniture Companies’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a dividend yield of 4.64%. Haverty Furniture Companies’s dividend payout ratio is currently 46.55%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AJOVista LLC bought a new position in shares of Haverty Furniture Companies in the fourth quarter worth approximately $71,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Haverty Furniture Companies by 62.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,511 shares of the company’s stock worth $160,000 after purchasing an additional 1,740 shares during the last quarter. Vision Capital Management Inc. bought a new position in shares of Haverty Furniture Companies in the fourth quarter worth approximately $213,000. O Shaughnessy Asset Management LLC bought a new position in shares of Haverty Furniture Companies in the first quarter worth approximately $206,000. Finally, Yousif Capital Management LLC bought a new position in shares of Haverty Furniture Companies in the fourth quarter worth approximately $235,000. 80.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on HVT shares. Benchmark reaffirmed a “buy” rating and set a $45.00 price objective on shares of Haverty Furniture Companies in a report on Thursday, May 2nd. StockNews.com downgraded shares of Haverty Furniture Companies from a “buy” rating to a “hold” rating in a report on Wednesday.

View Our Latest Research Report on HVT

Haverty Furniture Companies Company Profile

(Get Free Report)

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products and eclectic looks; and mattress product lines under the Tempur-Pedic, Serta, Sealy, and Stearns and Foster names.

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