Bassett Furniture Industries Inc. (NASDAQ:BSET) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 47,500 shares, a growth of 9.7% from the December 15th total of 43,300 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average trading volume of 40,000 shares, the short-interest ratio is currently 1.2 days.
A number of hedge funds have recently made changes to their positions in BSET. JPMorgan Chase & Co. boosted its holdings in Bassett Furniture Industries by 1.8% in the second quarter. JPMorgan Chase & Co. now owns 101,083 shares of the company’s stock valued at $1,483,000 after acquiring an additional 1,812 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Bassett Furniture Industries by 14.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 21,474 shares of the company’s stock worth $327,000 after buying an additional 2,643 shares in the last quarter. Panagora Asset Management Inc. bought a new position in shares of Bassett Furniture Industries during the 2nd quarter worth approximately $28,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bassett Furniture Industries by 35.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 27,045 shares of the company’s stock worth $413,000 after buying an additional 7,036 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Bassett Furniture Industries by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 122,043 shares of the company’s stock worth $1,861,000 after buying an additional 1,096 shares in the last quarter. Institutional investors and hedge funds own 69.22% of the company’s stock.
BSET has been the topic of several analyst reports. Zacks Investment Research cut Bassett Furniture Industries from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. ValuEngine upgraded Bassett Furniture Industries from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd.
Shares of BSET stock opened at $16.77 on Tuesday. The business’s 50 day simple moving average is $15.98 and its 200 day simple moving average is $14.48. Bassett Furniture Industries has a one year low of $11.64 and a one year high of $21.70. The stock has a market capitalization of $167.22 million, a PE ratio of 30.63, a PEG ratio of 1.09 and a beta of 0.73.
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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