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Hooker Furniture Corp. Message Board

  • CMahan1 CMahan1 Nov 3, 2003 11:43 AM Flag

    Insider Sales?

    Nice article about insider and institutional ownership in the Motley Fool today. Prompted me to look up Insider Transactions on Yahoo!. There were approximately 40 transactions recorded in early October from insiders or their private foundations. Avg. price per share around $35.5 - $36.5.

    Anyone know what this is about?


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    • I wouldn't make too much of insider selling. Motley Fool has this stock as a "Hidden Gem", so obviously they did not intend to raise concern. I bought in a year and a half ago at $15.90. Over that time HOFT has gone from 20% to 30% of my portfolio based on price appreciation relative to other stocks I own. I am considering selling some to get back to a 20% weighting, but I stress, my thoughts of selling are only to diversify. If I didn't own so much I would be a buyer.

      HOFT is still relatively unknown and attractively priced relative to its peers. It began trading over-the-counter before it moved to Nasdaq. As a result, it never had an official IPO and never received press coverage. STLY is smaller in market cap but has 5 analyst ratings vs. 3 for HOFT. I expect HOFT to get more coverage over time and receive the attention its performance warrants.

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