Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Down 43.2% in July

Key Points

• Short interest fell 43.2% to 46,783 shares as of July 31, representing 0.6% of shares outstanding and a short-interest ratio of one day.
• Analyst sentiment improved, with upgrades from Zacks Research, Weiss Ratings, and Wall Street Zen; MarketBeat reports a consensus “Buy” rating.
• Bassett reported quarterly EPS of $0.24, beating estimates by $0.04, and declared a $0.20 quarterly dividend, equal to an annualized yield of about 4.2%.

Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Get Free Report) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 46,783 shares, a drop of 43.2% from the July 15th total of 82,437 shares. Based on an average daily volume of 46,489 shares, the short-interest ratio is presently 1.0 days. Currently, 0.6% of the company's shares are short sold.

Analysts Set New Price Targets

Several analysts have weighed in on BSET shares. Zacks Research raised shares of Bassett Furniture Industries from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 7th. Weiss Ratings upgraded Bassett Furniture Industries from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen raised Bassett Furniture Industries from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Bassett Furniture Industries has a consensus rating of "Buy".

Bassett Furniture Industries Stock Down 0.2%

Shares of Bassett Furniture Industries stock traded down $0.04 during trading on Monday, reaching $19.09. 4,199 shares of the stock were exchanged, compared to its average volume of 40,881. The firm has a market cap of $165.28 million, a price-to-earnings ratio of 29.82, a price-to-earnings-growth ratio of 1.34 and a beta of 0.76. Bassett Furniture Industries has a 1 year low of $13.17 and a 1 year high of $22.26. The stock's fifty day moving average is $18.72 and its 200 day moving average is $16.10.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last released its quarterly earnings results on Wednesday, July 1st. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.04. The business had revenue of $83.75 million during the quarter, compared to analyst estimates of $83.32 million. Bassett Furniture Industries had a return on equity of 3.56% and a net margin of 1.65%.During the same quarter in the prior year, the company posted $0.22 EPS. Equities analysts forecast that Bassett Furniture Industries will post 0.89 earnings per share for the current year.

Bassett Furniture Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, August 14th. Bassett Furniture Industries's dividend payout ratio is currently 125.00%.

Institutional Trading of Bassett Furniture Industries

Large investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC purchased a new position in shares of Bassett Furniture Industries during the fourth quarter valued at about $465,000. Aegis Financial Corp lifted its holdings in Bassett Furniture Industries by 5.2% in the first quarter. Aegis Financial Corp now owns 526,997 shares of the company's stock worth $7,457,000 after buying an additional 25,878 shares during the period. BlackRock Inc. purchased a new stake in Bassett Furniture Industries in the second quarter worth about $3,032,000. Bank of New York Mellon Corp bought a new stake in Bassett Furniture Industries during the 2nd quarter valued at approximately $1,274,000. Finally, Marquette Asset Management LLC bought a new stake in Bassett Furniture Industries during the 2nd quarter valued at approximately $300,000. Institutional investors own 54.40% of the company's stock.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Inc NASDAQ: BSET, headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett's products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.

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