Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Sees Large Decline in Short Interest

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was the recipient of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 39,000 shares, a decline of 7.6% from the December 31st total of 42,200 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily volume of 13,200 shares, the days-to-cover ratio is presently 3.0 days.

Institutional Investors Weigh In On Bassett Furniture Industries

An institutional investor recently raised its position in Bassett Furniture Industries stock. Empowered Funds LLC boosted its holdings in shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,554 shares of the company’s stock after acquiring an additional 1,135 shares during the period. Empowered Funds LLC owned 0.30% of Bassett Furniture Industries worth $367,000 at the end of the most recent reporting period. 54.40% of the stock is currently owned by institutional investors and hedge funds.

Bassett Furniture Industries Stock Performance

Bassett Furniture Industries stock traded down $0.46 during trading on Monday, reaching $14.10. The company had a trading volume of 27,661 shares, compared to its average volume of 18,055. The firm has a market capitalization of $124.08 million, a PE ratio of -12.82, a price-to-earnings-growth ratio of 1.21 and a beta of 1.67. The firm’s 50-day simple moving average is $14.23 and its 200 day simple moving average is $14.03. Bassett Furniture Industries has a 1-year low of $12.10 and a 1-year high of $15.96.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings results on Wednesday, January 29th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.33. Bassett Furniture Industries had a negative net margin of 2.94% and a negative return on equity of 2.42%. Analysts anticipate that Bassett Furniture Industries will post 0.75 EPS for the current year.

Bassett Furniture Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.20 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.80 dividend on an annualized basis and a yield of 5.67%. Bassett Furniture Industries’s payout ratio is currently -72.73%.

Wall Street Analyst Weigh In

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

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.