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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 50,100 shares, an increase of 8.4% from the October 31st total of 46,200 shares. Based on an average daily 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.

Institutional Investors Weigh In On Bassett Furniture Industries

Several institutional investors have recently modified their holdings of the business. Inspire Advisors LLC boosted its stake in 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 acquiring an additional 14,183 shares during the last quarter. Empowered Funds LLC boosted 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 worth $367,000 after purchasing an additional 1,206 shares during the last quarter. Finally, Barclays PLC grew its stake 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 worth $146,000 after purchasing an additional 3,459 shares during the period. Institutional investors and hedge funds own 54.40% of the company’s stock.

Bassett Furniture Industries Trading Down 0.8 %

Shares of Bassett Furniture Industries stock traded down $0.13 during midday trading on Wednesday, reaching $15.17. The company had a trading volume of 2,919 shares, compared to its average volume of 17,520. The stock has a fifty day simple moving average of $14.57 and a 200 day simple moving average of $14.04. Bassett Furniture Industries has a 1-year low of $12.10 and a 1-year high of $17.89. The company has a market capitalization of $133.51 million, a price-to-earnings ratio of -7.77, a price-to-earnings-growth ratio of 1.20 and a beta of 1.69.

Bassett Furniture Industries (NASDAQ:BSET) last released 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). Bassett Furniture Industries had a negative net margin of 5.00% and a negative return on equity of 3.47%. The firm had revenue of $75.62 million during the quarter, compared to analyst estimates of $78.63 million. During the same period last year, the business posted ($0.30) earnings per share. Sell-side analysts expect that Bassett Furniture Industries will post -0.77 earnings per share for the current year.

Bassett Furniture Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.20 per share. The ex-dividend date was Friday, November 15th. This represents a $0.80 dividend on an annualized basis and a yield of 5.27%. Bassett Furniture Industries’s payout ratio is presently -41.03%.

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.

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.