Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Down 25.2% in June

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) saw a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 30,300 shares, a decline of 25.2% from the May 31st total of 40,500 shares. Based on an average trading volume of 19,400 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.4% of the company’s stock are sold short.

Institutional Trading of Bassett Furniture Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its holdings in Bassett Furniture Industries by 42.6% during the third 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. Inspire Advisors LLC raised its holdings in Bassett Furniture Industries by 8.0% during the first quarter. Inspire Advisors LLC now owns 11,872 shares of the company’s stock worth $175,000 after purchasing an additional 880 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Bassett Furniture Industries during the fourth quarter worth approximately $218,000. Assenagon Asset Management S.A. acquired a new stake in Bassett Furniture Industries during the first quarter worth approximately $224,000. Finally, Empowered Funds LLC raised its holdings in Bassett Furniture Industries by 7.5% during the first quarter. Empowered Funds LLC now owns 22,593 shares of the company’s stock worth $333,000 after purchasing an additional 1,575 shares in the last quarter. Institutional investors and hedge funds own 54.40% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research note on Saturday, April 6th.

Bassett Furniture Industries Stock Down 1.4 %

Bassett Furniture Industries stock traded down $0.20 during trading on Friday, reaching $14.21. The stock had a trading volume of 10,256 shares, compared to its average volume of 27,998. Bassett Furniture Industries has a 52-week low of $13.02 and a 52-week high of $17.89. The business has a 50 day moving average price of $14.12 and a 200 day moving average price of $14.88. The stock has a market cap of $125.47 million, a PE ratio of -21.21, a P/E/G ratio of 3.86 and a beta of 1.68.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings data on Wednesday, April 3rd. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.15). Bassett Furniture Industries had a negative return on equity of 0.64% and a negative net margin of 1.57%. The company had revenue of $86.55 million for the quarter, compared to analyst estimates of $91.48 million. On average, equities analysts predict that Bassett Furniture Industries will post 0.23 EPS for the current fiscal year.

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.