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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was the target of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 51,000 shares, an increase of 126.7% from the July 31st total of 22,500 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average trading volume of 23,400 shares, the short-interest ratio is presently 2.2 days.

Insider Activity at Bassett Furniture Industries

In related news, Director John R. Belk acquired 3,847 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $12.70 per share, with a total value of $48,856.90. Following the completion of the purchase, the director now directly owns 41,047 shares in the company, valued at $521,296.90. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders have purchased a total of 5,324 shares of company stock valued at $67,651 over the last quarter. Insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Bassett Furniture Industries

Large investors have recently modified their holdings of the company. Inspire Advisors LLC raised its holdings in shares of Bassett Furniture Industries by 8.0% in the 1st quarter. Inspire Advisors LLC now owns 11,872 shares of the company’s stock worth $175,000 after purchasing an additional 880 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of Bassett Furniture Industries during the 4th quarter valued at about $218,000. Assenagon Asset Management S.A. purchased a new stake in shares of Bassett Furniture Industries during the 1st quarter valued at about $224,000. Finally, Empowered Funds LLC raised its holdings in shares of Bassett Furniture Industries by 7.5% during the 1st quarter. Empowered Funds LLC now owns 22,593 shares of the company’s stock valued at $333,000 after buying an additional 1,575 shares during the period. 54.40% of the stock is currently owned by hedge funds and other institutional investors.

Bassett Furniture Industries Stock Performance

NASDAQ BSET traded up $0.26 during trading hours on Thursday, hitting $13.82. 19,440 shares of the company’s stock were exchanged, compared to its average volume of 19,522. The business’s 50 day moving average is $13.39 and its 200-day moving average is $14.11. Bassett Furniture Industries has a 12-month low of $12.10 and a 12-month high of $17.89. The firm has a market capitalization of $122.02 million, a P/E ratio of -7.99 and a beta of 1.69.

Bassett Furniture Industries (NASDAQ:BSET) last released its earnings results on Wednesday, July 10th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.07). Bassett Furniture Industries had a negative return on equity of 2.30% and a negative net margin of 4.29%. The business had revenue of $83.41 million for the quarter, compared to analysts’ expectations of $86.21 million.

Bassett Furniture Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.79%. This is an increase from Bassett Furniture Industries’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, August 16th. Bassett Furniture Industries’s dividend payout ratio (DPR) is -46.24%.

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.