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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) saw a significant increase in short interest during 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. Approximately 3.8% of the company’s shares are short sold. 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. Approximately 3.8% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BSET shares. Zacks Research cut Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bassett Furniture Industries in a research note on Wednesday, January 21st. Finally, Wall Street Zen downgraded shares of Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Bassett Furniture Industries Stock Performance

BSET traded down $0.16 during midday trading on Monday, reaching $14.81. 1,775 shares of the company were exchanged, compared to its average volume of 17,583. The stock has a market capitalization 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 has a one year low of $13.96 and a one year high of $19.75. The stock’s 50-day simple moving average is $16.13 and its 200 day simple moving average is $15.92.

Bassett Furniture Industries (NASDAQ:BSET) last announced 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 net margin of 1.82% and a return on equity of 3.91%. The company had revenue of $88.67 million during the quarter, compared to the consensus estimate of $86.90 million. On average, research analysts anticipate that Bassett Furniture Industries will post 0.75 earnings per share for the current year.

Bassett Furniture Industries Announces Dividend

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

Institutional Trading of Bassett Furniture Industries

Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in Bassett Furniture Industries by 95.3% during 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 in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Bassett Furniture Industries in the third quarter worth about $29,000. Group One Trading LLC acquired a new stake in shares of Bassett Furniture Industries during the second quarter worth about $30,000. Empowered Funds LLC lifted its holdings in shares of Bassett Furniture Industries by 7.9% during the 1st quarter. Empowered Funds LLC now owns 28,643 shares of the company’s stock valued at $437,000 after purchasing an additional 2,089 shares in the last quarter. Finally, Motiv8 Investments LLC acquired a new position in shares of Bassett Furniture Industries in the 4th quarter valued at approximately $42,000. Institutional investors own 54.40% of the company’s stock.

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.