Bassett Furniture Industries Inc. (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 110,000 shares, a growth of 29.1% from the May 30th total of 85,200 shares. Based on an average daily trading volume, of 30,500 shares, the days-to-cover ratio is currently 3.6 days. Currently, 1.1% of the company’s stock are sold short.
Bassett Furniture Industries stock traded down $0.07 during mid-day trading on Friday, hitting $12.90. 37,275 shares of the company’s stock were exchanged, compared to its average volume of 35,624. The firm has a market capitalization of $134.29 million, a PE ratio of 13.30, a P/E/G ratio of 1.40 and a beta of 0.77. Bassett Furniture Industries has a 1-year low of $12.80 and a 1-year high of $26.80. The business has a 50 day moving average price of $14.21.
Bassett Furniture Industries (NASDAQ:BSET) last posted its earnings results on Tuesday, July 2nd. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.24). Bassett Furniture Industries had a return on equity of 3.39% and a net margin of 1.29%. The business had revenue of $108.19 million for the quarter, compared to analyst estimates of $115.39 million. Sell-side analysts predict that Bassett Furniture Industries will post 0.57 earnings per share for the current fiscal year.
Several research firms have commented on BSET. ValuEngine raised shares of Alleghany from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Zacks Investment Research downgraded shares of First Merchants from a “hold” rating to a “sell” rating in a research report on Monday, July 1st.
A number of hedge funds have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL boosted its holdings in Bassett Furniture Industries by 1.1% during the first quarter. Gamco Investors INC. ET AL now owns 891,685 shares of the company’s stock valued at $14,633,000 after acquiring an additional 10,035 shares during the period. BlackRock Inc. boosted its holdings in Bassett Furniture Industries by 4.5% during the fourth quarter. BlackRock Inc. now owns 787,953 shares of the company’s stock valued at $15,791,000 after acquiring an additional 33,581 shares during the period. Royce & Associates LP boosted its holdings in Bassett Furniture Industries by 11.3% during the first quarter. Royce & Associates LP now owns 710,000 shares of the company’s stock valued at $11,651,000 after acquiring an additional 72,006 shares during the period. Walthausen & Co. LLC boosted its holdings in Bassett Furniture Industries by 42.6% during the fourth quarter. Walthausen & Co. LLC now owns 227,650 shares of the company’s stock valued at $4,562,000 after acquiring an additional 68,040 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Bassett Furniture Industries by 22.4% during the fourth quarter. Bank of New York Mellon Corp now owns 136,000 shares of the company’s stock valued at $2,726,000 after acquiring an additional 24,870 shares during the period. Institutional investors own 70.31% of the company’s stock.
Bassett Furniture Industries Company Profile
Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail, and Logistical Services. The company engages in the design, manufacture, sourcing, distribution, and sale of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings retail stores, as well as independent furniture retailers; and wood and upholstery operations.
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