Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Down 5.5% in October

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 46,200 shares, a drop of 5.5% from the October 15th total of 48,900 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average trading volume of 14,400 shares, the short-interest ratio is currently 3.2 days.

Institutional Trading of Bassett Furniture Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Bassett Furniture Industries by 51.9% in the third quarter. Barclays PLC now owns 10,124 shares of the company’s stock worth $146,000 after acquiring an additional 3,459 shares in the last quarter. 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 worth $367,000 after buying an additional 1,206 shares during the period. Finally, Inspire Advisors LLC grew its position in Bassett Furniture Industries by 119.5% during the second quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock worth $370,000 after buying an additional 14,183 shares during the period. Hedge funds and other institutional investors own 54.40% of the company’s stock.

Analysts Set New Price Targets

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

Bassett Furniture Industries Trading Down 2.7 %

BSET stock opened at $14.39 on Wednesday. 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 $126.63 million, a price-to-earnings ratio of -7.56 and a beta of 1.68. The business’s 50-day moving average is $14.40 and its 200 day moving average is $13.98.

Bassett Furniture Industries (NASDAQ:BSET) last released its earnings results on Wednesday, October 9th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.18). The business had revenue of $75.62 million during the quarter, compared to analysts’ expectations of $78.63 million. Bassett Furniture Industries had a negative return on equity of 3.47% and a negative net margin of 5.00%. During the same period last year, the business earned ($0.30) earnings per share. As a group, equities analysts forecast that Bassett Furniture Industries will post -0.77 EPS for the current fiscal year.

Bassett Furniture Industries Announces Dividend

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 given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 5.56%. The ex-dividend date is Friday, November 15th. Bassett Furniture Industries’s payout ratio is presently -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.