Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Down 43.2% in July

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) saw a significant decline in short interest in July. As of July 31st, there was short interest totaling 46,783 shares, a decline of 43.2% from the July 15th total of 82,437 shares. Based on an average daily volume of 46,489 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.6% of the company’s stock are sold short.

Bassett Furniture Industries Price Performance

BSET stock traded down $0.04 on Monday, reaching $19.09. 4,199 shares of the company traded hands, compared to its average volume of 40,881. Bassett Furniture Industries has a one year low of $13.17 and a one year high of $22.26. The company has a market cap of $165.28 million, a P/E ratio of 29.82, a price-to-earnings-growth ratio of 1.34 and a beta of 0.76. The firm has a fifty day simple moving average of $18.72 and a 200-day simple moving average of $16.10.

Bassett Furniture Industries (NASDAQ:BSET) last released its earnings results on Wednesday, July 1st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. Bassett Furniture Industries had a return on equity of 3.56% and a net margin of 1.65%.The business had revenue of $83.75 million for the quarter, compared to the consensus estimate of $83.32 million. During the same period in the previous year, the company posted $0.22 earnings per share. On average, sell-side analysts forecast that Bassett Furniture Industries will post 0.89 EPS for the current year.

Bassett Furniture Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, August 14th. Bassett Furniture Industries’s payout ratio is currently 125.00%.

Analyst Ratings Changes

A number of equities analysts have issued reports on BSET shares. Weiss Ratings upgraded Bassett Furniture Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 14th. Wall Street Zen upgraded shares of Bassett Furniture Industries from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Zacks Research raised shares of Bassett Furniture Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC purchased a new stake in shares of Bassett Furniture Industries during the fourth quarter valued at approximately $465,000. Aegis Financial Corp raised its holdings in Bassett Furniture Industries by 5.2% in the 1st quarter. Aegis Financial Corp now owns 526,997 shares of the company’s stock worth $7,457,000 after acquiring an additional 25,878 shares during the last quarter. BlackRock Inc. bought a new position in Bassett Furniture Industries in the 2nd quarter valued at approximately $3,032,000. Bank of New York Mellon Corp bought a new position in Bassett Furniture Industries in the 2nd quarter valued at approximately $1,274,000. Finally, Marquette Asset Management LLC purchased a new stake in Bassett Furniture Industries during the 2nd quarter valued at $300,000. Institutional investors own 54.40% of the company’s stock.

About Bassett Furniture Industries

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.