Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Up 34.6% in August

Key Points

• Short interest in Bassett Furniture Industries increased by 34.6% in August, with a total of 265,900 shares sold short, representing 3.7% of the company's stock.
• The company reported $0.22 earnings per share for the last quarter, beating expectations of $0.15, and had revenues of $84.35 million versus the anticipated $82.03 million.
• Bassett Furniture declared a quarterly dividend of $0.20 per share, with a payout ratio of 275.86% and an annualized dividend yield of 4.8%.

Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Get Free Report) saw a significant increase in short interest in August. As of August 15th, there was short interest totaling 265,900 shares, an increase of 34.6% from the July 31st total of 197,600 shares. Based on an average daily volume of 50,600 shares, the days-to-cover ratio is currently 5.3 days. Currently, 3.7% of the company's stock are short sold. Currently, 3.7% of the company's stock are short sold. Based on an average daily volume of 50,600 shares, the days-to-cover ratio is currently 5.3 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Zacks Research cut shares of Bassett Furniture Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, August 29th. Wall Street Zen cut shares of Bassett Furniture Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Bassett Furniture Industries presently has an average rating of "Hold".

Bassett Furniture Industries Stock Performance

BSET traded down $0.67 during trading on Friday, hitting $16.37. The stock had a trading volume of 12,714 shares, compared to its average volume of 20,054. The firm has a market capitalization of $142.26 million, a P/E ratio of 56.45, a PEG ratio of 1.29 and a beta of 0.98. The company's 50-day moving average price is $16.99 and its 200 day moving average price is $16.53. Bassett Furniture Industries has a twelve month low of $13.57 and a twelve month high of $19.75.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last announced its quarterly earnings data on Wednesday, July 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.07. Bassett Furniture Industries had a net margin of 0.76% and a return on equity of 1.48%. The company had revenue of $84.35 million for the quarter, compared to analysts' expectations of $82.03 million. During the same period in the previous year, the company posted ($0.19) EPS. As a group, equities analysts expect that Bassett Furniture Industries will post 0.75 earnings per share for the current fiscal year.

Bassett Furniture Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.80 dividend on an annualized basis and a yield of 4.9%. Bassett Furniture Industries's payout ratio is currently 275.86%.

Insiders Place Their Bets

In other Bassett Furniture Industries news, SVP John E. Bassett III sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.56, for a total transaction of $37,120.00. Following the sale, the senior vice president owned 50,761 shares of the company's stock, valued at approximately $942,124.16. This trade represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.30% of the company's stock.

Institutional Investors Weigh In On Bassett Furniture Industries

Several institutional investors and hedge funds have recently made changes to their positions in BSET. Geode Capital Management LLC boosted its position in shares of Bassett Furniture Industries by 114.3% in the 2nd quarter. Geode Capital Management LLC now owns 190,182 shares of the company's stock worth $2,892,000 after buying an additional 101,448 shares in the last quarter. Truffle Hound Capital LLC boosted its position in shares of Bassett Furniture Industries by 49.3% in the 1st quarter. Truffle Hound Capital LLC now owns 298,520 shares of the company's stock worth $4,552,000 after buying an additional 98,520 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Bassett Furniture Industries by 192.9% in the 1st quarter. Bank of New York Mellon Corp now owns 71,138 shares of the company's stock worth $1,085,000 after buying an additional 46,847 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Bassett Furniture Industries in the 2nd quarter worth about $274,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Bassett Furniture Industries in the 2nd quarter worth about $247,000. 54.40% of the stock is currently owned by hedge funds and other institutional investors.

Bassett Furniture Industries Company Profile

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.