Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Short Interest Up 45.8% in May

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 71,600 shares, a growth of 45.8% from the May 15th total of 49,100 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average trading volume of 25,300 shares, the days-to-cover ratio is presently 2.8 days.

Bassett Furniture Industries Trading Up 0.1%

Shares of NASDAQ:BSET opened at $15.49 on Wednesday. Bassett Furniture Industries has a 12-month low of $12.11 and a 12-month high of $19.67. The business’s fifty day simple moving average is $16.99 and its 200-day simple moving average is $15.51. The company has a market capitalization of $134.76 million, a PE ratio of -20.65, a P/E/G ratio of 1.38 and a beta of 1.24.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings results on Wednesday, April 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.19. Bassett Furniture Industries had a negative return on equity of 0.68% and a negative net margin of 2.04%. The business had revenue of $82.16 million for the quarter, compared to the consensus estimate of $79.71 million. During the same period last year, the business posted ($0.14) EPS. Research analysts predict that Bassett Furniture Industries will post 0.75 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC grew its stake in Bassett Furniture Industries by 87.9% during the 1st quarter. Jane Street Group LLC now owns 21,454 shares of the company’s stock worth $327,000 after buying an additional 10,037 shares during the last quarter. Empowered Funds LLC grew its stake in Bassett Furniture Industries by 7.9% during the 1st quarter. Empowered Funds LLC now owns 28,643 shares of the company’s stock worth $437,000 after buying an additional 2,089 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Bassett Furniture Industries by 97.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,840 shares of the company’s stock worth $379,000 after buying an additional 12,258 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in Bassett Furniture Industries by 0.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 571,777 shares of the company’s stock worth $8,720,000 after buying an additional 2,200 shares during the last quarter. Finally, Truffle Hound Capital LLC grew its stake in Bassett Furniture Industries by 49.3% during the 1st quarter. Truffle Hound Capital LLC now owns 298,520 shares of the company’s stock valued at $4,552,000 after purchasing an additional 98,520 shares during the last quarter. 54.40% of the stock is currently owned by hedge funds and other institutional investors.

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.