Short Interest in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Drops By 5.5%

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 46,200 shares, a decrease of 5.5% from the October 15th total of 48,900 shares. Based on an average daily volume of 14,400 shares, the days-to-cover ratio is presently 3.2 days. Approximately 0.6% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Bassett Furniture Industries from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th.

Institutional Investors Weigh In On Bassett Furniture Industries

A number of hedge funds have recently modified their holdings of BSET. Empowered Funds LLC raised its stake in Bassett Furniture Industries by 7.5% during the first quarter. Empowered Funds LLC now owns 22,593 shares of the company’s stock worth $333,000 after purchasing an additional 1,575 shares during the period. Inspire Advisors LLC increased its holdings in shares of 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 buying an additional 14,183 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Bassett Furniture Industries by 51.9% during the 3rd 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 period. Hedge funds and other institutional investors own 54.40% of the company’s stock.

Bassett Furniture Industries Trading Up 1.2 %

Shares of NASDAQ BSET opened at $14.79 on Tuesday. The stock has a market cap of $130.17 million, a PE ratio of -7.49 and a beta of 1.68. Bassett Furniture Industries has a 12-month low of $12.10 and a 12-month high of $17.89. The company has a 50-day moving average of $14.37 and a 200 day moving average of $13.97.

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 the consensus estimate 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, sell-side analysts forecast that Bassett Furniture Industries will post -0.77 EPS for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, November 15th. This represents a $0.80 annualized dividend and a dividend yield of 5.41%. Bassett Furniture Industries’s dividend payout ratio is presently -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.