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

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

Hedge Funds Weigh In On Bassett Furniture Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC grew its position in Bassett Furniture Industries by 51.9% during the 3rd quarter. Barclays PLC now owns 10,124 shares of the company’s stock worth $146,000 after acquiring an additional 3,459 shares during the last quarter. Empowered Funds LLC grew its position in Bassett Furniture Industries by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 25,419 shares of the company’s stock worth $367,000 after acquiring an additional 1,206 shares during the last quarter. Finally, Inspire Advisors LLC grew its position in Bassett Furniture Industries by 119.5% during the 2nd quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock worth $370,000 after acquiring an additional 14,183 shares during the last quarter. Institutional investors own 54.40% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Bassett Furniture Industries from a “hold” rating to a “buy” rating in a research note on Thursday.

Bassett Furniture Industries Stock Down 2.6 %

Shares of BSET traded down $0.37 during midday trading on Monday, hitting $14.12. The company’s stock had a trading volume of 919 shares, compared to its average volume of 17,569. Bassett Furniture Industries has a one year low of $12.10 and a one year high of $16.85. The company’s fifty day simple moving average is $14.57 and its two-hundred day simple moving average is $14.06. The stock has a market capitalization of $124.26 million, a price-to-earnings ratio of -7.43, a price-to-earnings-growth ratio of 1.07 and a beta of 1.69.

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

Bassett Furniture Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.80 annualized dividend and a dividend yield of 5.67%. Bassett Furniture Industries’s payout ratio is -41.03%.

Bassett Furniture Industries Company Profile

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.