Bassett Furniture Industries Inc. (NASDAQ:BSET) Short Interest Down 18.5% in May

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Bassett Furniture Industries Inc. (NASDAQ:BSET) was the recipient of a significant decline in short interest in May. As of May 31st, there was short interest totalling 40,600 shares, a decline of 18.5% from the April 30th total of 49,800 shares. Based on an average daily trading volume, of 26,600 shares, the short-interest ratio is presently 1.5 days. Approximately 0.4% of the shares of the stock are short sold.

Shares of BSET stock traded up $0.10 during trading hours on Wednesday, reaching $13.82. 13,600 shares of the company were exchanged, compared to its average volume of 27,968. Bassett Furniture Industries has a fifty-two week low of $13.36 and a fifty-two week high of $28.20. The firm has a market capitalization of $145.33 million, a price-to-earnings ratio of 14.25, a PEG ratio of 0.97 and a beta of 0.78.

Bassett Furniture Industries (NASDAQ:BSET) last announced its earnings results on Thursday, April 4th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.07. Bassett Furniture Industries had a net margin of 2.09% and a return on equity of 5.38%. The company had revenue of $120.84 million for the quarter, compared to analyst estimates of $118.17 million. Equities research analysts anticipate that Bassett Furniture Industries will post 0.86 earnings per share for the current year.

A number of research firms have commented on BSET. Zacks Investment Research upgraded shares of Bassett Furniture Industries from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. ValuEngine lowered shares of Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research report on Friday, April 19th.

In other news, Director William C. Warden, Jr. purchased 5,000 shares of Bassett Furniture Industries stock in a transaction on Friday, April 5th. The shares were purchased at an average cost of $17.10 per share, for a total transaction of $85,500.00. Following the completion of the transaction, the director now directly owns 32,121 shares in the company, valued at $549,269.10. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.54% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. Alambic Investment Management L.P. grew its holdings in shares of Bassett Furniture Industries by 114.7% during the 1st quarter. Alambic Investment Management L.P. now owns 69,306 shares of the company’s stock valued at $1,137,000 after purchasing an additional 37,027 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Bassett Furniture Industries by 11.3% during the 1st quarter. Royce & Associates LP now owns 710,000 shares of the company’s stock valued at $11,651,000 after purchasing an additional 72,006 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Bassett Furniture Industries by 4.4% during the 1st quarter. Acadian Asset Management LLC now owns 43,220 shares of the company’s stock valued at $710,000 after purchasing an additional 1,811 shares during the last quarter. LSV Asset Management boosted its position in Bassett Furniture Industries by 57.0% during the 1st quarter. LSV Asset Management now owns 39,917 shares of the company’s stock worth $655,000 after buying an additional 14,500 shares during the period. Finally, Spark Investment Management LLC acquired a new stake in Bassett Furniture Industries during the 1st quarter worth approximately $244,000. Institutional investors own 70.31% of the company’s stock.

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About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail, and Logistical Services. The company engages in the design, manufacture, sourcing, distribution, and sale of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings retail stores, as well as independent furniture retailers; and wood and upholstery operations.

See Also: Insider Trading

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