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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was the target of a significant growth in short interest in 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 daily trading volume, of 13,200 shares, the days-to-cover ratio is presently 3.8 days. Approximately 0.7% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

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

Institutional Trading of Bassett Furniture Industries

Several hedge funds have recently made changes to their positions in BSET. Inspire Advisors LLC lifted its stake in shares of Bassett Furniture Industries by 119.5% in the 2nd 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 last quarter. Empowered Funds LLC lifted its position in 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 buying an additional 1,206 shares during the last quarter. Finally, Barclays PLC boosted its stake in Bassett Furniture Industries by 51.9% during the third quarter. Barclays PLC now owns 10,124 shares of the company’s stock worth $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 Stock Performance

Shares of BSET stock traded down $0.14 during trading hours on Wednesday, reaching $15.16. The company had a trading volume of 1,656 shares, compared to its average volume of 17,515. Bassett Furniture Industries has a 12-month low of $12.10 and a 12-month high of $17.89. The company has a market capitalization of $133.42 million, a price-to-earnings ratio of -7.77, a PEG ratio of 1.20 and a beta of 1.69. The stock has a fifty day moving average of $14.57 and a 200-day moving average of $14.04.

Bassett Furniture Industries (NASDAQ:BSET) last issued its 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). Bassett Furniture Industries had a negative net margin of 5.00% and a negative return on equity of 3.47%. The company had revenue of $75.62 million during the quarter, compared to analysts’ expectations of $78.63 million. During the same quarter in the previous year, the company earned ($0.30) earnings per share. On average, analysts forecast that Bassett Furniture Industries will post -0.77 EPS for the current year.

Bassett Furniture Industries Announces Dividend

The company also recently announced 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 5.28%. The ex-dividend date of this dividend was Friday, November 15th. Bassett Furniture Industries’s dividend payout ratio (DPR) 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.