Short Interest in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Rises By 8.4%

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 50,100 shares, a growth of 8.4% from the October 31st total of 46,200 shares. Based on an average trading volume of 13,200 shares, the days-to-cover ratio is currently 3.8 days. Currently, 0.7% of the company’s shares are sold short.

Institutional Investors Weigh In On Bassett Furniture Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC increased its holdings in shares of Bassett Furniture Industries by 5.0% in the third quarter. Empowered Funds LLC now owns 25,419 shares of the company’s stock valued at $367,000 after purchasing an additional 1,206 shares during the period. Inspire Advisors LLC increased its holdings in shares of Bassett Furniture Industries by 119.5% in the second quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock valued at $370,000 after purchasing an additional 14,183 shares during the period. Finally, Barclays PLC increased its holdings 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 purchasing an additional 3,459 shares during the period. 54.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Bassett Furniture Industries Trading Down 0.9 %

Shares of BSET traded down $0.14 during midday trading on Wednesday, reaching $15.16. 1,646 shares of the stock were exchanged, compared to its average volume of 17,515. Bassett Furniture Industries has a 52 week low of $12.10 and a 52 week high of $17.89. The company’s 50 day moving average is $14.57 and its two-hundred day moving average is $14.04. The company has a market capitalization of $133.42 million, a P/E ratio of -7.85, a PEG ratio of 1.20 and a beta of 1.69.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings data on Wednesday, October 9th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.18). The company had revenue of $75.62 million for the quarter, compared to analysts’ expectations 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 quarter last year, the company earned ($0.30) earnings per share. On average, sell-side analysts expect that Bassett Furniture Industries will post -0.77 EPS for the current year.

Bassett Furniture Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date was Friday, November 15th. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently -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.