Short Interest in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Decreases By 11.0%

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was the target of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 44,600 shares, a decline of 11.0% from the November 15th total of 50,100 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average trading volume of 12,600 shares, the short-interest ratio is presently 3.5 days.

Bassett Furniture Industries Trading Up 1.7 %

BSET stock traded up $0.24 during midday trading on Friday, hitting $14.49. 9,657 shares of the company’s stock were exchanged, compared to its average volume of 17,640. Bassett Furniture Industries has a 1-year low of $12.10 and a 1-year high of $16.92. The stock has a market capitalization of $127.51 million, a PE ratio of -7.43, a P/E/G ratio of 1.07 and a beta of 1.69. The business has a 50-day simple moving average of $14.57 and a two-hundred day simple moving average of $14.06.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings data on Wednesday, October 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.18). Bassett Furniture Industries had a negative return on equity of 3.47% and a negative net margin of 5.00%. The business had revenue of $75.62 million for the quarter, compared to analyst estimates of $78.63 million. During the same period in the previous year, the business posted ($0.30) earnings per share. As a group, research analysts expect that Bassett Furniture Industries will post -0.77 EPS for the current fiscal year.

Bassett Furniture Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.80 annualized dividend and a dividend yield of 5.52%. Bassett Furniture Industries’s dividend payout ratio is currently -41.03%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Bassett Furniture Industries from a “hold” rating to a “buy” rating in a research note on Thursday.

Hedge Funds Weigh In On Bassett Furniture Industries

A number of hedge funds have recently made changes to their positions in BSET. Empowered Funds LLC boosted its holdings in Bassett Furniture Industries by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 25,419 shares of the company’s stock valued at $367,000 after acquiring an additional 1,206 shares during the period. Barclays PLC lifted its position 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 in the last quarter. Finally, Inspire Advisors LLC lifted its position in shares of Bassett Furniture Industries by 119.5% during the second quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock worth $370,000 after purchasing an additional 14,183 shares in the last quarter. Hedge funds and other institutional investors own 54.40% of the company’s stock.

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.