First Trust Advisors LP lowered its position in shares of Haverty Furniture Cos. (NYSE:HVT) by 65.2% during the second quarter, Holdings Channel reports. The institutional investor owned 10,383 shares of the company’s stock after selling 19,423 shares during the period. First Trust Advisors LP’s holdings in Haverty Furniture Cos. were worth $187,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in Haverty Furniture Cos. by 107.2% in the second quarter. BNP Paribas Arbitrage SA now owns 6,187 shares of the company’s stock valued at $112,000 after buying an additional 3,201 shares during the period. Bank of Montreal Can purchased a new stake in Haverty Furniture Cos. during the second quarter valued at approximately $164,000. Springbok Capital Management LLC boosted its stake in Haverty Furniture Cos. by 15.6% in the first quarter. Springbok Capital Management LLC now owns 12,600 shares of the company’s stock valued at $267,000 after buying an additional 1,700 shares during the period. Strs Ohio boosted its stake in Haverty Furniture Cos. by 8.2% in the second quarter. Strs Ohio now owns 34,200 shares of the company’s stock valued at $616,000 after buying an additional 2,600 shares during the period. Finally, Prudential Financial Inc. boosted its stake in Haverty Furniture Cos. by 3.0% in the first quarter. Prudential Financial Inc. now owns 47,737 shares of the company’s stock valued at $1,010,000 after buying an additional 1,400 shares during the period. 70.31% of the stock is owned by hedge funds and other institutional investors.
Haverty Furniture Cos. (NYSE:HVT) traded up 0.56% on Tuesday, hitting $18.05. The stock had a trading volume of 8,998 shares. Haverty Furniture Cos. has a 12-month low of $16.57 and a 12-month high of $24.54. The company has a 50 day moving average of $19.50 and a 200 day moving average of $19.01. The company has a market capitalization of $380.93 million, a PE ratio of 15.12 and a beta of 0.81.
Haverty Furniture Cos. (NYSE:HVT) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. Haverty Furniture Cos. had a return on equity of 9.05% and a net margin of 3.30%. The company earned $194.80 million during the quarter, compared to analysts’ expectations of $194.80 million. During the same period in the prior year, the company earned $0.21 EPS. Haverty Furniture Cos.’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts expect that Haverty Furniture Cos. will post $1.28 earnings per share for the current year.
Several research firms have recently commented on HVT. Raymond James Financial Inc. raised Haverty Furniture Cos. from an “outperform” rating to a “strong-buy” rating and set a $23.00 target price for the company in a research note on Tuesday, August 2nd. Zacks Investment Research raised Haverty Furniture Cos. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd.
In other news, Chairman Clarence H. Smith sold 10,510 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $20.52, for a total value of $215,665.20. Following the completion of the transaction, the chairman now directly owns 56,088 shares in the company, valued at approximately $1,150,925.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.51% of the stock is owned by insiders.
About Haverty Furniture Cos.
Haverty Furniture Companies, Inc is a specialty retailer of residential furniture and accessories. The Company sells home furnishings in its retail stores and through its Website havertys.com. The Company has over 120 stores in approximately 20 states in the southern and Midwest regions with over 4.4 million square feet retail store space.
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