Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Down 37.5% in February

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

Institutional Investors Weigh In On Bassett Furniture Industries

Several large investors have recently made changes to their positions in BSET. Russell Investments Group Ltd. lifted its holdings in Bassett Furniture Industries by 95.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,504 shares of the company’s stock valued at $25,000 after purchasing an additional 734 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in Bassett Furniture Industries during the third quarter worth about $29,000. Group One Trading LLC acquired a new stake in shares of Bassett Furniture Industries during the second quarter worth approximately $30,000. Motiv8 Investments LLC bought a new position in shares of Bassett Furniture Industries in the fourth quarter valued at approximately $42,000. Finally, Nalls Sherbakoff Group LLC bought a new position in shares of Bassett Furniture Industries in the fourth quarter valued at approximately $46,000. Institutional investors own 54.40% of the company’s stock.

Bassett Furniture Industries Price Performance

Shares of BSET traded up $0.03 during mid-day trading on Friday, reaching $14.00. The company had a trading volume of 29,870 shares, compared to its average volume of 29,902. Bassett Furniture Industries has a twelve month low of $13.70 and a twelve month high of $19.75. The company’s 50-day moving average is $15.60 and its 200-day moving average is $15.79. The company has a market capitalization of $121.10 million, a P/E ratio of 20.00, a P/E/G ratio of 0.87 and a beta of 0.98.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.07). Bassett Furniture Industries had a net margin of 1.82% and a return on equity of 3.91%. The company had revenue of $88.67 million during the quarter, compared to analyst estimates of $86.90 million. As a group, equities analysts expect that Bassett Furniture Industries will post 0.75 EPS for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a $0.20 dividend. 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 Ratings Changes

BSET has been the subject of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Bassett Furniture Industries in a research note on Wednesday, January 21st. Zacks Research lowered shares of Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. Finally, Wall Street Zen cut shares of Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Bassett Furniture Industries currently has a consensus 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.