Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Up 59.4% in June

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) saw a large 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. Based on an average daily trading volume, of 21,700 shares, the days-to-cover ratio is presently 2.2 days. Currently, 0.7% of the shares of the stock are short sold.

Bassett Furniture Industries Stock Performance

Shares of BSET stock opened at $14.48 on Monday. Bassett Furniture Industries has a fifty-two week low of $13.02 and a fifty-two week high of $17.89. The company has a market capitalization of $127.86 million, a P/E ratio of -8.37, a PEG ratio of 4.31 and a beta of 1.69. The stock has a 50 day moving average price of $14.14 and a two-hundred day moving average price of $14.72.

Bassett Furniture Industries Increases Dividend

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Bassett Furniture Industries

Hedge funds have recently made changes to their positions in the business. 1620 Investment Advisors Inc. purchased a new position in shares of Bassett Furniture Industries during the fourth quarter valued at approximately $218,000. Assenagon Asset Management S.A. purchased a new position in shares of Bassett Furniture Industries during the first quarter valued at approximately $224,000. Empowered Funds LLC increased its stake 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 valued at $333,000 after buying an additional 1,575 shares during the period. Finally, Inspire Advisors LLC increased its stake in shares of Bassett Furniture Industries by 8.0% during the first quarter. Inspire Advisors LLC now owns 11,872 shares of the company’s stock valued at $175,000 after buying an additional 880 shares during the period. 54.40% of the stock is owned by hedge funds and other institutional investors.

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.