Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Down 25.2% in June

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) saw a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 30,300 shares, a decrease of 25.2% from the May 31st total of 40,500 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 19,400 shares, the short-interest ratio is presently 1.6 days.

Bassett Furniture Industries Trading Down 1.4 %

BSET stock traded down $0.20 during midday trading on Friday, reaching $14.21. 10,256 shares of the company’s stock traded hands, compared to its average volume of 27,998. Bassett Furniture Industries has a 52-week low of $13.02 and a 52-week high of $17.89. The stock has a market cap of $125.47 million, a P/E ratio of -21.21, a PEG ratio of 3.86 and a beta of 1.68. The stock’s 50-day moving average is $14.12 and its 200 day moving average is $14.88.

Bassett Furniture Industries (NASDAQ:BSET) last announced its earnings results on Wednesday, April 3rd. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.15). Bassett Furniture Industries had a negative net margin of 1.57% and a negative return on equity of 0.64%. The business had revenue of $86.55 million for the quarter, compared to analysts’ expectations of $91.48 million. As a group, research analysts expect that Bassett Furniture Industries will post 0.23 EPS for the current fiscal year.

Institutional Trading of Bassett Furniture Industries

A number of hedge funds and other institutional investors have recently modified their holdings of BSET. Barclays PLC increased its stake in shares of Bassett Furniture Industries by 42.6% in the third quarter. Barclays PLC now owns 9,502 shares of the company’s stock worth $140,000 after purchasing an additional 2,837 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Bassett Furniture Industries in the fourth quarter worth $218,000. Assenagon Asset Management S.A. purchased a new stake in shares of Bassett Furniture Industries in the first quarter worth $224,000. Empowered Funds LLC increased its stake in shares of Bassett Furniture Industries by 7.5% in the first quarter. Empowered Funds LLC now owns 22,593 shares of the company’s stock worth $333,000 after purchasing an additional 1,575 shares in the last quarter. Finally, Inspire Advisors LLC increased its stake 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 worth $175,000 after purchasing an additional 880 shares in the last quarter. 54.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th.

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.