Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Sees Large Drop in Short Interest

Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Get Free Report) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 46,200 shares, a decrease of 5.5% from the October 15th total of 48,900 shares. Approximately 0.6% of the company's stock are sold short. Based on an average daily volume of 14,400 shares, the short-interest ratio is currently 3.2 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Bassett Furniture Industries from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th.

Institutional Trading of Bassett Furniture Industries

A number of hedge funds have recently bought and sold shares of BSET. Inspire Advisors LLC grew its stake in shares of Bassett Furniture Industries by 119.5% during the 2nd quarter. Inspire Advisors LLC now owns 26,055 shares of the company's stock valued at $370,000 after purchasing an additional 14,183 shares during the period. Empowered Funds LLC grew its position in Bassett Furniture Industries by 5.0% during the third quarter. Empowered Funds LLC now owns 25,419 shares of the company's stock valued at $367,000 after buying an additional 1,206 shares during the period. Finally, Barclays PLC grew its position in Bassett Furniture Industries by 51.9% during the third quarter. Barclays PLC now owns 10,124 shares of the company's stock valued at $146,000 after buying an additional 3,459 shares during the period. Hedge funds and other institutional investors own 54.40% of the company's stock.

Bassett Furniture Industries Stock Up 1.2 %

Shares of NASDAQ BSET traded up $0.18 during trading on Monday, reaching $14.79. The company had a trading volume of 13,151 shares, compared to its average volume of 17,879. Bassett Furniture Industries has a 12-month low of $12.10 and a 12-month high of $17.89. The stock has a market cap of $130.17 million, a PE ratio of -7.49 and a beta of 1.68. The business's 50-day moving average is $14.37 and its 200 day moving average is $13.97.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last announced its quarterly earnings results on Wednesday, October 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.18). Bassett Furniture Industries had a negative net margin of 5.00% and a negative return on equity of 3.47%. The company had revenue of $75.62 million for the quarter, compared to analysts' expectations of $78.63 million. During the same period in the previous year, the business earned ($0.30) EPS. On average, analysts anticipate that Bassett Furniture Industries will post -0.77 earnings per share for the current year.

Bassett Furniture Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.20 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.41%. Bassett Furniture Industries's dividend payout ratio (DPR) is currently -41.03%.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.