Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Sees Large Drop in Short Interest

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 39,000 shares, a decrease of 7.6% from the December 15th total of 42,200 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average trading volume of 13,200 shares, the days-to-cover ratio is presently 3.0 days.

Institutional Trading of Bassett Furniture Industries

A hedge fund recently raised its stake in Bassett Furniture Industries stock. Barclays PLC grew its stake in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 51.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,124 shares of the company’s stock after acquiring an additional 3,459 shares during the quarter. Barclays PLC owned about 0.12% of Bassett Furniture Industries worth $146,000 at the end of the most recent quarter. Institutional investors and hedge funds own 54.40% of the company’s stock.

Bassett Furniture Industries Price Performance

Shares of Bassett Furniture Industries stock traded down $0.51 during trading on Friday, hitting $13.86. The stock had a trading volume of 12,044 shares, compared to its average volume of 8,658. The stock has a market cap of $121.97 million, a PE ratio of -7.11, a PEG ratio of 1.08 and a beta of 1.69. Bassett Furniture Industries has a 12 month low of $12.10 and a 12 month high of $16.50. The firm’s fifty day simple moving average is $14.36 and its 200-day simple moving average is $14.00.

Bassett Furniture Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, February 14th. This represents a $0.80 annualized dividend and a yield of 5.77%. Bassett Furniture Industries’s payout ratio is currently -41.03%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Bassett Furniture Industries from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

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.