Short Interest in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Declines By 37.5%

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was the target of a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 188,894 shares, a drop of 37.5% from the February 12th total of 302,326 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average daily trading volume, of 22,507 shares, the short-interest ratio is presently 8.4 days. Based on an average daily trading volume, of 22,507 shares, the short-interest ratio is presently 8.4 days. Approximately 2.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Bassett Furniture Industries

A number of hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in Bassett Furniture Industries by 97.4% during the first quarter. Goldman Sachs Group Inc. now owns 24,840 shares of the company’s stock valued at $379,000 after acquiring an additional 12,258 shares in the last quarter. Empowered Funds LLC grew its position in Bassett Furniture Industries by 7.9% in the first quarter. Empowered Funds LLC now owns 28,643 shares of the company’s stock worth $437,000 after acquiring an additional 2,089 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Bassett Furniture Industries by 87.9% during the 1st quarter. Jane Street Group LLC now owns 21,454 shares of the company’s stock worth $327,000 after purchasing an additional 10,037 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Bassett Furniture Industries during the 2nd quarter worth $274,000. Finally, Geode Capital Management LLC raised its holdings in shares of Bassett Furniture Industries by 114.3% during the 2nd quarter. Geode Capital Management LLC now owns 190,182 shares of the company’s stock valued at $2,892,000 after purchasing an additional 101,448 shares in the last quarter. Institutional investors and hedge funds own 54.40% of the company’s stock.

Bassett Furniture Industries Stock Up 0.2%

Shares of Bassett Furniture Industries stock traded up $0.03 on Friday, hitting $14.00. 29,870 shares of the company traded hands, compared to its average volume of 22,367. Bassett Furniture Industries has a 12-month low of $13.70 and a 12-month high of $19.75. The company has a market cap of $121.10 million, a PE ratio of 20.00, a PEG ratio of 0.88 and a beta of 0.98. The company has a 50-day moving average price of $15.65 and a 200 day moving average price of $15.81.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $88.67 million for the quarter, compared to analysts’ expectations of $86.90 million. Equities research analysts anticipate that Bassett Furniture Industries will post 0.75 EPS for the current year.

Bassett Furniture Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Friday, May 15th. Bassett Furniture Industries’s payout ratio is currently 114.29%.

Analyst Upgrades and Downgrades

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

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.