Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Down 5.5% in October

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

Bassett Furniture Industries Price Performance

BSET stock opened at $14.61 on Monday. The stock has a market cap of $128.58 million, a price-to-earnings ratio of -7.49 and a beta of 1.68. The company has a fifty day moving average price of $14.37 and a two-hundred day moving average price of $13.97. Bassett Furniture Industries has a one year low of $12.10 and a one year high of $17.89.

Bassett Furniture Industries (NASDAQ:BSET) last announced its 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 for the quarter, compared to the consensus estimate of $78.63 million. Bassett Furniture Industries had a negative return on equity of 3.47% and a negative net margin of 5.00%. During the same period in the previous year, the firm posted ($0.30) EPS. Research 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 announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.48%. Bassett Furniture Industries’s dividend payout ratio (DPR) is currently -41.03%.

Institutional Trading of Bassett Furniture Industries

Institutional investors have recently added to or reduced their stakes in the company. Inspire Advisors LLC increased 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 buying an additional 14,183 shares during the period. Empowered Funds LLC increased its position in Bassett Furniture Industries by 5.0% during the third 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 period. Finally, Barclays PLC raised its stake in Bassett Furniture Industries by 51.9% in the 3rd quarter. Barclays PLC now owns 10,124 shares of the company’s stock worth $146,000 after purchasing an additional 3,459 shares in the last quarter. 54.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

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.