[SCHEDULE 13G] Hooker Furnishings Corporation SEC Filing
Donald Smith & Co., Inc., DSCO Value Fund, L.P., and John Piermont filed a Schedule 13G reporting collective beneficial ownership of 984,761 shares of Hooker Furnishings Corporation common stock, representing approximately 9.21% of the class as of the filing date. The filing breaks out sole voting power and dispositive power: Donald Smith & Co., Inc. reports 940,876 shares with sole voting power and 973,776 shares with sole dispositive power; DSCO Value Fund reports 8,985 shares; John Piermont reports 2,000 shares.
The filing states the shares are held in the ordinary course of business and not for the purpose of changing control. Donald Smith & Co., Inc. is identified as a Delaware investment adviser and notes that no single advisory client owns more than 5% of the class; signatures are provided by Richard L. Greenberg (CEO and Co-CIO).
- Material disclosure of a >5% position (984,761 shares, ~9.21%), providing market transparency
- Clear allocation of sole voting and dispositive power by reporting persons (detailed share counts)
- Certification that holdings are in the ordinary course of business and not intended to change control
- None.
Insights
TL;DR: A registered investment adviser and affiliated fund disclosed a combined ~9.21% stake in HOFT, a sizable passive holding that must be monitored by investors.
The Schedule 13G shows an aggregate position of 984,761 shares (9.21%), primarily reported under Donald Smith & Co., Inc.'s sole voting and dispositive authority. The filing indicates holdings are managed in the ordinary course and not intended to influence control, consistent with a passive investor profile. For valuation and market-impact analysis, compare the reported share count to Hooker Furnishings' outstanding share base and recent trading volumes to assess liquidity and potential influence on pricing. The adviser clarifies no single client exceeds 5%, implying diversified client-level exposure rather than concentration with one beneficial owner.
TL;DR: This disclosure notifies the market of a >5% holder but affirms a non-control posture, reducing immediate governance-activism concerns.
The Schedule 13G classification and the explicit certification that the position is held in the ordinary course indicate the reporters view the stake as passive. Donald Smith & Co., Inc.'s large proportion of the aggregate position (reported sole voting power of 940,876 shares) merits attention for potential future shifts if the adviser changes intent. The filing notes that dividend/proceeds rights reside with institutional clients, and no single client exceeds 5%, which limits the need for deeper beneficiary disclosure under Item 6. Overall, this is material for governance monitoring but not an immediate sign of activist engagement.