Short Interest in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Rises By 32.2%

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was the target of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 302,326 shares, a growth of 32.2% from the January 29th total of 228,693 shares. Currently, 3.8% of the company’s shares are short sold. Based on an average trading volume of 24,725 shares, the short-interest ratio is currently 12.2 days. Based on an average trading volume of 24,725 shares, the short-interest ratio is currently 12.2 days. Currently, 3.8% of the company’s shares are short sold.

Hedge Funds Weigh In On Bassett Furniture Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of Bassett Furniture Industries by 95.3% in the fourth quarter. Russell Investments Group Ltd. now owns 1,504 shares of the company’s stock valued at $25,000 after buying an additional 734 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in Bassett Furniture Industries during the third quarter worth about $29,000. Group One Trading LLC purchased a new position in shares of Bassett Furniture Industries during the 2nd quarter worth about $30,000. Motiv8 Investments LLC purchased a new position in Bassett Furniture Industries during the fourth quarter worth approximately $42,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Bassett Furniture Industries during the second quarter worth approximately $68,000. 54.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wall Street Zen cut Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Zacks Research lowered Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a research note on Friday, February 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Bassett Furniture Industries in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Bassett Furniture Industries Price Performance

NASDAQ BSET opened at $14.86 on Wednesday. The firm’s fifty day moving average price is $16.02 and its 200 day moving average price is $15.90. Bassett Furniture Industries has a 12 month low of $13.96 and a 12 month high of $19.75. The company has a market capitalization of $128.54 million, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 0.93 and a beta of 0.98.

Bassett Furniture Industries (NASDAQ:BSET) last announced its earnings results on Wednesday, February 4th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.07). The firm had revenue of $88.67 million during the quarter, compared to analyst estimates of $86.90 million. Bassett Furniture Industries had a net margin of 1.82% and a return on equity of 3.91%. As a group, sell-side analysts forecast that Bassett Furniture Industries will post 0.75 earnings per share for the current year.

Bassett Furniture Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.4%. Bassett Furniture Industries’s payout ratio is presently 114.29%.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Inc (NASDAQ: BSET), headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett’s products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.