Company chares are trading at $38.35 just above the 50 day moving average which is $30.45 and a tad above the 200 day moving average of $28.82. The 50 day moving average was up $7.90 whereas the 200 day moving average was up $9.53 or +33.08%. Trading volume for Bassett Furniture Industries, I was 45K by the end of trading on Thursday. Shares saw a steep increase in trading volume of 124.90% over the normal average daily volume.
Traders are a little more bearish on the company lately as implied by the rise in short interest. The firm recorded a rise in short interest between June 15, 2017 and May 31, 2017 of 12.57%. Short shares increased 17,415 over that timeframe. Days to cover increased from 6.9 to 8.5 and the short interest percentage is 0.01% as of May 31.
There has been some selling insider activity on Bassett Furniture Industries, I (NASDAQ:BSET) recently. SVP, Corporate Retail David C. Baker sold 6,091 shares at an average price of $26.40 on February 21st. Baker now owns $720,882 of stock per an SEC filing yesterday. David C. Baker, SVP, Corporate Retail sold $121,720 worth of shares at an average price of $30.43 on Wed the 25th. That brings the SVP, Corporate Retail’s holdings to $753,634 as recorded in a recent Form 4 SEC filing.
Director Kristina K. Cashman disclosed the sale of 3,500 shares. The shares were purchased at an average price of $25.45. Cashman now owns $214,544 of the stock per the Form 4 SEC filing.
Here are a few other firms who have also updated their positions. As of the end of the quarter Morgan Stanley had sold 50 shares trimming its stake by 7.9%. The value of the investment in BSET went from $19,000 to $16,000 a change of $3,000 for the reporting period. Goldman Sachs Group Inc expanded its stake by buying 7,093 shares an increase of 38.1%. Goldman Sachs Group Inc now controls 25,726 shares valued at $692,000. The value of the position overall is up by 22.3%.
As of quarter end Salem Investment Counselors Inc had disposed of a total of 3,800 shares trimming its holdings by 77.6%. The value in dollars decreased from $149,000 to $29,000 decreasing 80.5% since the last quarter. As of quarter end State Street Corp had acquired 1,757 shares growing its position 1.1%. The value of the investment in (BSET) decreased from $4,993,000 to $4,468,000 a change of 10.5% quarter to quarter.
On April 5, 2016 Stifel Nicolaus started coverage with an initial rating of “Hold”. On January 21 the stock rating was upgraded to “Buy” from “Neutral” in an announcement from Sidoti & Co..
The company is up since yesterday’s close of $38.05. The company recently declared a dividend for shareholders that was paid on Friday the 26th of May 2017. The dividend payment was $0.100 per share for the quarter or $0.40 on an annualized basis. This dividend amount represented a yeild of $1.06. The ex-dividend date was Wednesday the 10th of May 2017.
The company’s P/E ratio is 23.09 and market capitalization is 411.27M. As of the latest earnings report the EPS was $1.66 and is projected to be $1.65 for the current year with 10,724,000 shares now outstanding. Next quarter’s EPS is forecasted to be $0.53 and the next full year EPS is projected to be $1.81.
Bassett Furniture Industries, Incorporated, launched on November 15, 2010, is a manufacturer, importer and retailer of home furnishings. The Business’s segments include Wholesale, Retail ? Company-owned stores and Logistical services. Its range of furniture products and accessories are sold through a nation-wide network of over 90 retail stores known as Bassett Home Furnishings (BHF). As of November 28, 2015, BHF store network included approximately 60 Company-owned stores and over 30 licensee-owned stores. The Company, through its Website, www.bassettfurniture.com, enables consumers to research and purchase its merchandise online. In addition, the Company distributes its products through other multi-line furniture stores, many of which feature Bassett galleries or design centers, specialty stores and mass merchants. The Company also holds investments in retail store properties..