Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Up 8.4% in November

Bassett Furniture Industries, Incorporated (NASDAQ:BSETGet Free Report) was the target of 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 presently 3.8 days. Approximately 0.7% of the company’s shares are sold short.

Bassett Furniture Industries Stock Performance

NASDAQ BSET traded down $0.13 during trading hours on Wednesday, reaching $15.17. 2,919 shares of the company’s stock were exchanged, compared to its average volume of 17,520. 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. The company’s 50-day moving average is $14.57 and its two-hundred day moving average is $14.04. Bassett Furniture Industries has a one year low of $12.10 and a one year high of $17.89.

Bassett Furniture Industries (NASDAQ:BSETGet Free Report) last issued its quarterly earnings data 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). The company had revenue of $75.62 million for the quarter, compared to the consensus estimate 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 period in the prior year, the company earned ($0.30) EPS. Research analysts predict that Bassett Furniture Industries will post -0.77 earnings per share for the current fiscal year.

Bassett Furniture Industries Announces Dividend

The company also recently declared 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 was Friday, November 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.27%. Bassett Furniture Industries’s dividend payout ratio (DPR) is -41.03%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BSET. Inspire Advisors LLC raised its position in 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 buying an additional 14,183 shares during the last quarter. Barclays PLC grew its stake in shares of Bassett Furniture Industries by 51.9% during the 3rd quarter. Barclays PLC now owns 10,124 shares of the company’s stock worth $146,000 after acquiring an additional 3,459 shares in the last quarter. Finally, Empowered Funds LLC grew 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 purchasing an additional 1,206 shares in the last quarter. 54.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Read Our Latest Analysis on Bassett Furniture Industries

Bassett Furniture Industries Company Profile

(Get Free Report)

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.

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