The number of short positions held in shares of Bassett Furniture Industries, Incorporated saw a sharp decline in December (NASDAQ: BSET). There were 113,600 shares available for short selling on December 30th. This represents a 19.4% decrease from the 140,900 shares available for short sale on Dec. 15. Based on an average daily trading volume of 44,800 shares, the current – interest rate can be expressed as 2.5 days. This number was obtained by applying the calculations to the data. Around 1.3% of the company’s total share capital is held in short positions at any given time.
On Friday, NASDAQ:BSET ended the session at $18.29, down $0.31 from the start of the day. Today, 26,992 shares were traded, a number significantly higher than the daily average volume of the share, which is 25,568 shares traded daily. The simple moving average of the company’s stock price over the past 50 days is $18.01, and the simple moving average over the past 200 days is $18.82. Last year, the price of Bassett Furniture Industries moved in a range ranging from $13.16 to $24.12, with a low of $13.16 and a high of $24.12. The stock has a price/earnings ratio of 2.67, a beta of 1.53, a market capitalization of $167.46 million, a growth price/earnings ratio of 0.69, and a price/earnings ratio.
With regard to the BSET, comments and suggestions were offered by several brokers. StockNews.com, which previously recommended a “Strong Buy” for Bassett Furniture Industries, gave the company a “Buy” rating on Thursday, which was downgraded from its previous “Strong Buy” recommendation. Bassett Furniture Industries’ previous “c-” rating was replaced by a “b” rating from TheStreet, which was published in a report on September 30 and stated that the company’s performance had improved.
In addition, the corporation declared a quarterly dividend, which is scheduled to be paid on Friday, February 24th. Shareholders registered as holders of their shares on February 10 will be eligible to receive a dividend payment of US$0.16 per share. On Thursday, February 9th, this dividend will be distributed to shareholders whose accounts are in good standing as of the announcement date. This equates to an annual dividend payout of $0.64 and a dividend yield of 3.50% for the share. At the moment, 9.34% of revenue is being distributed to shareholders by Bassett Furniture Industries.
Major shareholders have recently made adjustments to their existing equity holdings. During the first three months of 2018, Dimensional Fund Advisors LP increased its holdings by 1.2% by acquiring additional shares in Bassett Furniture Industries. Compared to the previous quarter, Dimensional Fund Advisors LP now owns an additional 8,952 shares of the company’s stock. This brings the total number of shares owned by the investment firm to 751,059, with a market cap of $12,438,000. During the first three months of 2018, Gamco Investors Inc. and its affiliated companies increased the percentage of Bassett Furniture Industries shares it owns by 1.1%. After purchasing an additional 7,298 shares during the most recent fiscal quarter, Gamco Investors Inc. and its affiliates now own 686,615 shares of the company. There is a total value of $11,370,000 associated with these shares. A 2.4% increase in Renaissance Technologies LLC’s ownership interest in Bassett Furniture Industries was achieved during the first three months of the current year. After making an additional purchase of 10,400 shares during the previous quarter, Renaissance Technologies LLC now owns 447,261 shares of the company, currently valued at $7,407,000. This brings the total number of shares owned by the company to 447,261. Victory Capital Management Inc. increased its shareholding in Bassett Furniture Industries by 6.0% during the second quarter of the fiscal year. After acquiring an additional 18,029 shares during the most recent fiscal quarter, Victory Capital Management Inc. now holds 318,330 shares in its portfolio. These shares have an equivalent value of $5,768,000 as a whole. And finally, during the first three months of this year, Gabelli Funds LLC added an additional 1.2% of Bassett Furniture Industries shares to its holdings, bringing the total percentage of shares in the company it owned to 35%. After making an additional purchase of 2,400 shares during the most recent quarter, Gabelli Funds LLC now owns 195,300 shares of the company. The total value of the equity interests that Gabelli Funds LLC owns in the company amounts to $3,234,000. Hedge funds and other institutional investors own 57.01% of the company’s shares.
Home furniture is something that Bassett Furniture Industries, Inc. is in the business of producing, marketing and selling to retail customers. The company operates in the wholesale and retail markets and offers logistics services to other businesses. The wholesale furniture market is responsible for all aspects of the business, including creating new products, manufacturing them, purchasing new products, distributing those products, and so on.
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