Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Update

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 44,600 shares, a decline of 11.0% from the November 15th total of 50,100 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average trading volume of 12,600 shares, the days-to-cover ratio is presently 3.5 days.

Hedge Funds Weigh In On Bassett Furniture Industries

Several institutional investors have recently made changes to their positions in BSET. Empowered Funds LLC increased its position in Bassett Furniture Industries by 5.0% in the third quarter. Empowered Funds LLC now owns 25,419 shares of the company’s stock worth $367,000 after buying an additional 1,206 shares during the period. Inspire Advisors LLC boosted its stake in Bassett Furniture Industries by 119.5% during the 2nd quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock valued at $370,000 after purchasing an additional 14,183 shares during the period. Finally, Barclays PLC increased its stake in shares of Bassett Furniture Industries by 51.9% in the third quarter. Barclays PLC now owns 10,124 shares of the company’s stock valued at $146,000 after purchasing an additional 3,459 shares during the period. 54.40% of the stock is owned by institutional investors.

Bassett Furniture Industries Trading Down 1.8 %

NASDAQ BSET traded down $0.26 during trading hours on Tuesday, reaching $14.23. 9,658 shares of the company traded hands, compared to its average volume of 17,606. The stock has a market capitalization of $125.24 million, a PE ratio of -7.30, a PEG ratio of 1.07 and a beta of 1.69. Bassett Furniture Industries has a 12 month low of $12.10 and a 12 month high of $16.85. The company has a 50 day moving average of $14.57 and a two-hundred day moving average of $14.06.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Wednesday, October 9th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.18). Bassett Furniture Industries had a negative return on equity of 3.47% and a negative net margin of 5.00%. The firm had revenue of $75.62 million during the quarter, compared to analyst estimates of $78.63 million. During the same quarter last year, the business posted ($0.30) earnings per share. On average, equities research analysts anticipate that Bassett Furniture Industries will post -0.77 earnings per share for the current year.

Bassett Furniture Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.62%. The ex-dividend date of this dividend was Friday, November 15th. Bassett Furniture Industries’s dividend payout ratio is presently -41.03%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Bassett Furniture Industries from a “hold” rating to a “buy” rating in a report on Thursday, December 12th.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.