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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 46,783 shares, a drop of 43.2% from the July 15th total of 82,437 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 46,489 shares, the days-to-cover ratio is presently 1.0 days.

Analyst Ratings Changes

BSET has been the subject of a number of research reports. Weiss Ratings raised shares of Bassett Furniture Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, July 14th. Zacks Research raised Bassett Furniture Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen upgraded Bassett Furniture Industries from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Bassett Furniture Industries Trading Down 0.8%

Shares of BSET stock opened at $18.90 on Wednesday. Bassett Furniture Industries has a 12-month low of $13.17 and a 12-month high of $22.26. The stock has a market capitalization of $163.67 million, a P/E ratio of 29.64, a P/E/G ratio of 1.34 and a beta of 0.76. The firm’s 50 day moving average is $18.89 and its 200 day moving average is $16.15.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings results on Wednesday, July 1st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. Bassett Furniture Industries had a net margin of 1.65% and a return on equity of 3.56%. The firm had revenue of $83.75 million during the quarter, compared to analyst estimates of $83.32 million. During the same quarter in the prior year, the firm earned $0.22 EPS. As a group, equities analysts predict that Bassett Furniture Industries will post 0.89 earnings per share for the current year.

Bassett Furniture Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, August 14th. Bassett Furniture Industries’s dividend payout ratio (DPR) is 125.00%.

Institutional Trading of Bassett Furniture Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its position in Bassett Furniture Industries by 97.4% in the first quarter. Goldman Sachs Group Inc. now owns 24,840 shares of the company’s stock worth $379,000 after purchasing an additional 12,258 shares during the last quarter. Empowered Funds LLC lifted its position in Bassett Furniture Industries by 7.9% during the first 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 during the last quarter. Jane Street Group LLC lifted its position in Bassett Furniture Industries by 87.9% during the first quarter. Jane Street Group LLC now owns 21,454 shares of the company’s stock valued at $327,000 after purchasing an additional 10,037 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Bassett Furniture Industries by 114.3% in the 2nd quarter. Geode Capital Management LLC now owns 190,182 shares of the company’s stock worth $2,892,000 after buying an additional 101,448 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in shares of Bassett Furniture Industries in the 2nd quarter worth $83,000. 54.40% of the stock is currently owned by institutional investors.

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.