Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Down 35.4% in April

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 21,500 shares, a drop of 35.4% from the March 31st total of 33,300 shares. Based on an average daily volume of 15,700 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.3% of the company’s shares are sold short.

Bassett Furniture Industries Trading Down 2.6 %

NASDAQ BSET traded down $0.35 during trading on Friday, reaching $13.12. 11,467 shares of the company’s stock were exchanged, compared to its average volume of 16,869. Bassett Furniture Industries has a fifty-two week low of $13.02 and a fifty-two week high of $17.89. The company’s fifty day simple moving average is $14.66 and its 200-day simple moving average is $15.46.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings data on Thursday, January 25th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.21. Bassett Furniture Industries had a negative return on equity of 0.64% and a negative net margin of 1.57%. The firm had revenue of $94.70 million during the quarter, compared to analyst estimates of $90.61 million. As a group, analysts predict that Bassett Furniture Industries will post 0.31 earnings per share for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date is Thursday, May 16th. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently -107.46%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Bassett Furniture Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC raised its stake in shares of Bassett Furniture Industries by 42.6% during the 3rd 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 during the 4th quarter worth about $218,000. Assenagon Asset Management S.A. purchased a new stake in shares of Bassett Furniture Industries during the 1st quarter worth about $224,000. Inspire Advisors LLC raised its stake in shares of Bassett Furniture Industries by 24.6% during the 3rd quarter. Inspire Advisors LLC now owns 18,418 shares of the company’s stock worth $270,000 after purchasing an additional 3,641 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Bassett Furniture Industries by 177.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 44,842 shares of the company’s stock valued at $657,000 after acquiring an additional 28,679 shares in the last quarter. 54.40% of the stock is owned by hedge funds and other institutional investors.

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.