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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) saw a large 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. Based on an average daily trading volume, of 12,600 shares, the short-interest ratio is presently 3.5 days. Approximately 0.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC lifted its position in shares of 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 in the last quarter. Barclays PLC grew its holdings in shares of Bassett Furniture Industries by 51.9% during 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 in the last quarter. Finally, Inspire Advisors LLC raised its position in Bassett Furniture Industries by 119.5% during the second quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock valued at $370,000 after buying an additional 14,183 shares during the period. 54.40% of the stock is currently owned by institutional investors and hedge funds.

Bassett Furniture Industries Price Performance

Shares of BSET traded down $0.26 during mid-day trading on Tuesday, hitting $14.23. The company’s stock had a trading volume of 9,658 shares, compared to its average volume of 17,606. The firm has a 50-day moving average price of $14.57 and a 200 day moving average price of $14.06. Bassett Furniture Industries has a fifty-two week low of $12.10 and a fifty-two week high of $16.85. The stock has a market capitalization of $125.24 million, a price-to-earnings ratio of -7.30, a PEG ratio of 1.07 and a beta of 1.69.

Bassett Furniture Industries (NASDAQ:BSET) last posted 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). The company had revenue of $75.62 million during the quarter, compared to the consensus estimate 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 company posted ($0.30) EPS. As a group, equities analysts anticipate that Bassett Furniture Industries will post -0.77 EPS for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

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. This represents a $0.80 dividend on an annualized basis and a 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 raised 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.