Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Up 126.7% in August

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was the recipient of a significant increase in short interest in 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. Based on an average trading volume of 23,400 shares, the short-interest ratio is currently 2.2 days. Currently, 0.7% of the company’s shares are short sold.

Bassett Furniture Industries Price Performance

BSET stock traded up $0.34 during midday trading on Friday, hitting $14.16. The company’s stock had a trading volume of 18,564 shares, compared to its average volume of 19,516. The company’s fifty day moving average price is $13.39 and its 200 day moving average price is $14.10. Bassett Furniture Industries has a twelve month low of $12.10 and a twelve month high of $17.89. The stock has a market capitalization of $125.02 million, a P/E ratio of -8.18 and a beta of 1.69.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly 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 company had revenue of $83.41 million for the quarter, compared to analyst estimates of $86.21 million.

Bassett Furniture Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.80 dividend on an annualized basis and a yield of 5.65%. This is a boost from Bassett Furniture Industries’s previous quarterly dividend of $0.18. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently -46.24%.

Insiders Place Their Bets

In other Bassett Furniture Industries news, Director John R. Belk bought 3,847 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $12.70 per share, with a total value of $48,856.90. Following the purchase, the director now owns 41,047 shares in the company, valued at $521,296.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have acquired 5,324 shares of company stock worth $67,651. Corporate insiders own 7.10% of the company’s stock.

Institutional Trading of Bassett Furniture Industries

A number of hedge funds have recently made changes to their positions in BSET. Inspire Advisors LLC raised its position in shares of Bassett Furniture Industries by 8.0% in the first quarter. Inspire Advisors LLC now owns 11,872 shares of the company’s stock valued at $175,000 after purchasing an additional 880 shares during the period. 1620 Investment Advisors Inc. bought a new position in Bassett Furniture Industries in the 4th quarter valued at about $218,000. Assenagon Asset Management S.A. acquired a new stake in Bassett Furniture Industries during the first quarter worth approximately $224,000. Finally, Empowered Funds LLC boosted its holdings in shares of Bassett Furniture Industries by 7.5% during the first quarter. Empowered Funds LLC now owns 22,593 shares of the company’s stock worth $333,000 after acquiring an additional 1,575 shares during the period. 54.40% of the stock is owned by institutional investors and hedge funds.

About Bassett Furniture Industries

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.