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

by · The Markets Daily

Bassett Furniture Industries, Incorporated (NASDAQ:BSET – Get Free Report) saw a large increase in short interest in October. As of October 15th, there was short interest totalling 48,900 shares, an increase of 26.7% from the September 30th total of 38,600 shares. Based on an average daily volume of 15,100 shares, the short-interest ratio is presently 3.2 days. Approximately 0.7% of the company’s stock are sold short.

Insider Buying and Selling

In other news, Director John R. Belk purchased 3,847 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $12.70 per share, for a total transaction of $48,856.90. Following the completion of the acquisition, the director now directly owns 41,047 shares in the company, valued at $521,296.90. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have bought a total of 5,324 shares of company stock worth $67,651 in the last quarter. Corporate insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Bassett Furniture Industries stock. Inspire Advisors LLC lifted its position in Bassett Furniture Industries, Incorporated (NASDAQ:BSET – Free Report) by 119.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,055 shares of the company’s stock after purchasing an additional 14,183 shares during the quarter. Inspire Advisors LLC owned about 0.30% of Bassett Furniture Industries worth $370,000 at the end of the most recent reporting period. 54.40% of the stock is currently owned by hedge funds and other institutional investors.

Bassett Furniture Industries Stock Performance

Shares of BSET stock traded down $0.15 during trading hours on Monday, reaching $13.80. The company had a trading volume of 11,935 shares, compared to its average volume of 18,342. The firm has a market cap of $121.84 million, a PE ratio of -8.06 and a beta of 1.69. The business has a fifty day moving average price of $13.99 and a 200-day moving average price of $13.85. Bassett Furniture Industries has a one year low of $12.10 and a one year high of $17.89.

Bassett Furniture Industries (NASDAQ:BSET – Get Free Report) last announced 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 company had revenue of $75.62 million for the quarter, compared to analysts’ expectations of $78.63 million. Bassett Furniture Industries had a negative net margin of 5.00% and a negative return on equity of 3.40%. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. Equities research analysts forecast that Bassett Furniture Industries will post -0.55 EPS for the current year.

Bassett Furniture Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 5.80%. The ex-dividend date of this dividend is Friday, November 15th. Bassett Furniture Industries’s dividend payout ratio is presently -46.24%.

Bassett Furniture Industries Company Profile

(Get Free Report)

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.

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