How Bassett Furniture Industries Inc. (BSET) Stacks Up Against Its Peers

Earlier we told you that the aggregate hedge fund interest in the stock was unchanged and we view this as a negative development. Even though there weren’t any hedge funds dumping their holdings during the third quarter, there weren’t any hedge funds initiating brand new positions. This indicates that hedge funds, at the very best, perceive this stock as dead money and they haven’t identified any viable catalysts that can attract investor attention.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Bassett Furniture Industries Inc. (NASDAQ:BSET) but similarly valued. These stocks are Merus NV (NASDAQ:MRUS), Great Ajax Corp (NYSE:AJX), Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR), and Syneron Medical Ltd. (NASDAQ:ELOS). This group of stocks’ market values resemble BSET’s market value.

As you can see these stocks had an average of 6.25 hedge funds with bullish positions and the average amount invested in these stocks was $37 million. That figure was $53 million in BSET’s case. Syneron Medical Ltd. (NASDAQ:ELOS) is the most popular stock in this table. On the other hand Fifth Street Senior Floating Rate Corp (NASDAQ:FSFR) is the least popular one with only 3 bullish hedge fund positions. Bassett Furniture Industries Inc. (NASDAQ:BSET) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard ELOS might be a better candidate to consider taking a long position in.

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