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

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

Hedge Funds Weigh In On Bassett Furniture Industries

Several institutional investors have recently bought and sold shares of the business. Inspire Advisors LLC raised its position in Bassett Furniture Industries by 8.0% in the 1st quarter. Inspire Advisors LLC now owns 11,872 shares of the company’s stock valued at $175,000 after purchasing an additional 880 shares during the last quarter. Empowered Funds LLC raised its position in shares of 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 acquiring an additional 1,575 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Bassett Furniture Industries during the first quarter worth $224,000. 1620 Investment Advisors Inc. bought a new stake in shares of Bassett Furniture Industries during the fourth quarter worth $218,000. Finally, Barclays PLC raised its position in shares of 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 acquiring an additional 2,837 shares during the last quarter. Institutional investors own 54.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bassett Furniture Industries Price Performance

Shares of Bassett Furniture Industries stock traded down $0.20 during midday trading on Friday, hitting $14.21. 10,256 shares of the company were exchanged, compared to its average volume of 27,998. The firm has a market cap of $125.47 million, a P/E ratio of -21.21, a PEG ratio of 3.92 and a beta of 1.68. Bassett Furniture Industries has a 52 week low of $13.02 and a 52 week high of $17.89. The firm has a 50 day simple moving average of $14.12 and a 200-day simple moving average of $14.89.

Bassett Furniture Industries (NASDAQ:BSET) last posted its earnings results on Wednesday, April 3rd. The company reported ($0.14) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $91.48 million. Equities research analysts expect that Bassett Furniture Industries will post 0.23 earnings per share for the current year.

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.