Short Interest in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Grows By 59.4%

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 48,300 shares, a growth of 59.4% from the June 15th total of 30,300 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily volume of 21,700 shares, the short-interest ratio is presently 2.2 days.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of 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

Several large investors have recently made changes to their positions in BSET. Assenagon Asset Management S.A. acquired a new stake in shares of Bassett Furniture Industries in the first quarter worth $224,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Bassett Furniture Industries in the fourth quarter worth $218,000. Empowered Funds LLC increased its position 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 acquiring an additional 1,575 shares in the last quarter. Finally, Inspire Advisors LLC increased its position 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 acquiring an additional 880 shares in the last quarter. Institutional investors and hedge funds own 54.40% of the company’s stock.

Bassett Furniture Industries Stock Performance

Shares of BSET stock opened at $14.48 on Friday. Bassett Furniture Industries has a one year low of $13.02 and a one year high of $17.89. The company has a 50 day moving average price of $14.14 and a 200 day moving average price of $14.73. The firm has a market capitalization of $127.86 million, a price-to-earnings ratio of -8.37, a price-to-earnings-growth ratio of 3.95 and a beta of 1.69.

Bassett Furniture Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.20 dividend. The ex-dividend date is Friday, August 16th. This represents a $0.80 annualized dividend and a dividend yield of 5.52%. This is a positive change from Bassett Furniture Industries’s previous quarterly dividend of $0.18. Bassett Furniture Industries’s dividend payout ratio is presently -41.62%.

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.