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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was the recipient of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 44,600 shares, a decrease of 11.0% from the November 15th total of 50,100 shares. Approximately 0.6% of the shares of the company are short sold. 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 hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC raised its position 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 buying an additional 3,459 shares during the last quarter. Empowered Funds LLC raised its holdings in Bassett Furniture Industries by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 25,419 shares of the company’s stock valued at $367,000 after acquiring an additional 1,206 shares during the last quarter. Finally, Inspire Advisors LLC lifted its stake in Bassett Furniture Industries by 119.5% in the 2nd quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock worth $370,000 after purchasing an additional 14,183 shares in the last quarter. Hedge funds and other institutional investors own 54.40% of the company’s stock.

Analysts Set New Price Targets

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

Bassett Furniture Industries Price Performance

BSET stock traded up $0.24 during mid-day trading on Friday, reaching $14.49. 9,657 shares of the company’s stock were exchanged, compared to its average volume of 17,640. Bassett Furniture Industries has a 12-month low of $12.10 and a 12-month high of $16.92. The stock’s 50 day moving average is $14.57 and its 200 day moving average is $14.06. The company has a market cap of $127.51 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 released its quarterly earnings results on Wednesday, October 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.18). The company had revenue of $75.62 million during the quarter, compared to analyst estimates of $78.63 million. Bassett Furniture Industries had a negative net margin of 5.00% and a negative return on equity of 3.47%. During the same period in the prior year, the business posted ($0.30) EPS. On average, research analysts forecast that Bassett Furniture Industries will post -0.77 earnings per share for the current fiscal year.

Bassett Furniture Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.80 annualized dividend and a yield of 5.52%. Bassett Furniture Industries’s dividend payout ratio (DPR) is currently -41.03%.

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.