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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 39,600 shares, a decline of 22.4% from the August 15th total of 51,000 shares. Based on an average daily volume of 23,300 shares, the short-interest ratio is presently 1.7 days. Currently, 0.5% of the shares of the company are sold short.

Insider Activity

In other news, Director John R. Belk bought 3,847 shares of the stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $12.70 per share, for a total transaction of $48,856.90. Following the purchase, the director now directly owns 41,047 shares of the company’s stock, valued at approximately $521,296.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 5,324 shares of company stock valued at $67,651 over the last quarter. Company insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new stake in Bassett Furniture Industries during the 1st quarter valued at about $224,000. Inspire Advisors LLC grew its holdings in shares of Bassett Furniture Industries by 119.5% during the second quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock valued at $370,000 after buying an additional 14,183 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Bassett Furniture Industries during the fourth quarter valued at approximately $218,000. Finally, Empowered Funds LLC raised its holdings in Bassett Furniture Industries by 7.5% in the 1st 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 last quarter. Institutional investors own 54.40% of the company’s stock.

Bassett Furniture Industries Trading Up 1.9 %

Shares of Bassett Furniture Industries stock traded up $0.27 on Tuesday, hitting $14.15. 11,738 shares of the company traded hands, compared to its average volume of 18,926. The firm’s 50-day simple moving average is $13.34 and its 200 day simple moving average is $13.95. Bassett Furniture Industries has a 12-month low of $12.10 and a 12-month high of $17.89. The company has a market cap of $124.93 million, a P/E ratio of -8.09 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 (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The business had revenue of $83.41 million for the quarter, compared to analysts’ expectations of $86.21 million. Bassett Furniture Industries had a negative net margin of 4.29% and a negative return on equity of 2.30%. Analysts predict that Bassett Furniture Industries will post -0.55 earnings per share for the current year.

Bassett Furniture Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.20 per share. This is an increase from Bassett Furniture Industries’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date was Friday, August 16th. Bassett Furniture Industries’s payout ratio is presently -46.24%.

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.