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

Bassett Furniture Industries, Incorporated (NASDAQ:BSETGet Rating) saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 513,400 shares, an increase of 21.4% from the March 31st total of 422,900 shares. Based on an average daily volume of 114,800 shares, the days-to-cover ratio is presently 4.5 days. Currently, 5.7% of the shares of the company are sold short.

BSET has been the subject of several recent analyst reports. Zacks Investment Research upgraded Bassett Furniture Industries from a “sell” rating to a “hold” rating and set a $19.00 target price for the company in a research report on Tuesday, April 5th. StockNews.com initiated coverage on Bassett Furniture Industries in a research report on Thursday, March 31st. They set a “buy” rating for the company.

Bassett Furniture Industries stock opened at $17.04 on Tuesday. The business has a 50-day simple moving average of $17.60 and a 200 day simple moving average of $17.08. Bassett Furniture Industries has a 52 week low of $13.16 and a 52 week high of $37.00. The stock has a market cap of $164.61 million, a price-to-earnings ratio of 8.52, a PEG ratio of 0.54 and a beta of 1.67.

Bassett Furniture Industries (NASDAQ:BSETGet Rating) last issued its quarterly earnings results on Thursday, March 31st. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.21. Bassett Furniture Industries had a return on equity of 11.30% and a net margin of 3.99%. Equities research analysts predict that Bassett Furniture Industries will post 1.93 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Friday, May 13th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.29%. The ex-dividend date is Thursday, May 12th. Bassett Furniture Industries’s dividend payout ratio (DPR) is currently 28.00%.

In related news, Director William C. Warden, Jr. purchased 5,000 shares of Bassett Furniture Industries stock in a transaction dated Tuesday, February 22nd. The stock was bought at an average cost of $16.17 per share, for a total transaction of $80,850.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 7.20% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its stake in shares of Bassett Furniture Industries by 178.2% in the 4th quarter. Russell Investments Group Ltd. now owns 101,650 shares of the company’s stock valued at $1,702,000 after acquiring an additional 65,113 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake in shares of Bassett Furniture Industries by 8.2% in the 4th quarter. Gamco Investors INC. ET AL now owns 679,317 shares of the company’s stock valued at $11,392,000 after acquiring an additional 51,300 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Bassett Furniture Industries by 58.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 98,930 shares of the company’s stock valued at $1,792,000 after acquiring an additional 36,341 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Bassett Furniture Industries in the 3rd quarter valued at about $636,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Bassett Furniture Industries by 38.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 107,984 shares of the company’s stock valued at $1,956,000 after acquiring an additional 30,234 shares during the last quarter. 61.69% of the stock is owned by hedge funds and other institutional investors.

Bassett Furniture Industries Company Profile (Get Rating)

Bassett Furniture Industries, Incorporated engages in the manufacture, marketing, and retail of home furnishings in the United States and internationally. It operates through three segments: Wholesale, Retail -company-owned Stores, and Logistical Services. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned retail stores and licensee-owned stores, and independent furniture retailers; and wood and upholstery operations.

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