Viking Fund Management LLC Purchases New Position in Ethan Allen Interiors Inc. $ETD

Viking Fund Management LLC purchased a new stake in Ethan Allen Interiors Inc. (NYSE:ETD) during the third quarter, HoldingsChannel.com reports. The fund purchased 25,000 shares of the company’s stock, valued at approximately $523,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in Ethan Allen Interiors in the 2nd quarter valued at $54,163,000. Bank of New York Mellon Corp acquired a new position in Ethan Allen Interiors during the 2nd quarter worth $7,512,000. Renaissance Technologies LLC boosted its holdings in Ethan Allen Interiors by 11.5% during the first quarter. Renaissance Technologies LLC now owns 261,177 shares of the company’s stock valued at $5,814,000 after acquiring an additional 26,976 shares during the period. Bank of America Corp DE acquired a new stake in shares of Ethan Allen Interiors in the second quarter valued at about $5,445,000. Finally, Hodges Capital Management Inc. grew its position in shares of Ethan Allen Interiors by 24.2% in the first quarter. Hodges Capital Management Inc. now owns 211,909 shares of the company’s stock valued at $4,717,000 after purchasing an additional 41,226 shares during the last quarter. 83.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ETD has been the subject of several research analyst reports. Weiss Ratings cut Ethan Allen Interiors from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 9th. Zacks Research downgraded Ethan Allen Interiors from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Finally, Telsey Advisory Group dropped their price target on Ethan Allen Interiors from $24.00 to $22.00 and set a “market perform” rating on the stock in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Sell” and an average price target of $22.00.

Insider Transactions at Ethan Allen Interiors

In other Ethan Allen Interiors news, CEO M Kathwari sold 22,811 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $25.04, for a total transaction of $571,187.44. Following the sale, the chief executive officer owned 1,465,530 shares of the company’s stock, valued at $36,696,871.20. This represents a 1.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.92% of the stock is currently owned by company insiders.

Ethan Allen Interiors Price Performance

Shares of NYSE:ETD opened at $20.04 on Thursday. The stock has a market capitalization of $505.01 million, a price-to-earnings ratio of 13.90 and a beta of 1.04. The business’s fifty day moving average price is $22.11 and its two-hundred day moving average price is $21.81. Ethan Allen Interiors Inc. has a fifty-two week low of $18.28 and a fifty-two week high of $28.39.

Ethan Allen Interiors (NYSE:ETD) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Ethan Allen Interiors had a net margin of 6.88% and a return on equity of 7.88%. The firm had revenue of $146.75 million for the quarter, compared to analyst estimates of $148.70 million. During the same period in the previous year, the business earned $0.49 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. Research analysts expect that Ethan Allen Interiors Inc. will post 1.30 EPS for the current fiscal year.

Ethan Allen Interiors Announces Dividend

The firm also recently declared a special dividend, which was paid on Thursday, September 17th. Investors of record on Thursday, September 3rd were issued a $3.00 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. Ethan Allen Interiors’s payout ratio is currently 100.00%.

Ethan Allen Interiors Profile

Ethan Allen Interiors Inc is an American furniture and home furnishings company that designs, manufactures, markets and sells products for residential interiors. Its offerings include living room, bedroom, dining room and home office furniture, along with case goods, upholstery, lighting, rugs, window treatments, wall decor and other accessories.

The company operates through a vertically integrated business model that combines product design, manufacturing, retailing and interior design services.