Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Update

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

Institutional Investors Weigh In On Bassett Furniture Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised 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 worth $25,000 after acquiring an additional 734 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Bassett Furniture Industries in the third quarter valued at approximately $29,000. Group One Trading LLC bought a new position in Bassett Furniture Industries in the 2nd quarter worth approximately $30,000. Empowered Funds LLC raised its position in Bassett Furniture Industries by 7.9% in the 1st quarter. Empowered Funds LLC now owns 28,643 shares of the company’s stock worth $437,000 after purchasing an additional 2,089 shares during the last quarter. Finally, Motiv8 Investments LLC acquired a new position in Bassett Furniture Industries during the 4th quarter worth $42,000. Institutional investors and hedge funds own 54.40% of the company’s stock.

Bassett Furniture Industries Stock Performance

Shares of NASDAQ BSET traded down $0.16 during mid-day trading on Monday, hitting $14.81. 1,775 shares of the stock were exchanged, compared to its average volume of 17,583. Bassett Furniture Industries has a twelve month low of $13.96 and a twelve month high of $19.75. The stock’s fifty day simple moving average is $16.13 and its two-hundred day simple moving average is $15.92. The company has a market cap of $128.13 million, a P/E ratio of 21.15, a PEG ratio of 0.94 and a beta of 0.99.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.07). Bassett Furniture Industries had a return on equity of 3.91% and a net margin of 1.82%.The business had revenue of $88.67 million for the quarter, compared to the consensus estimate of $86.90 million. As a group, equities research analysts predict that Bassett Furniture Industries will post 0.75 earnings per share for the current fiscal year.

Bassett Furniture Industries Announces Dividend

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

Wall Street Analyst Weigh In

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

About Bassett Furniture Industries

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.