Bassett Furniture Industries Inc. (BSET): Are Hedge Funds Right About This Stock?

Judging by the fact that Bassett Furniture Industries Inc. (NASDAQ:BSET) has witnessed bearish sentiment from hedge fund managers, we can see that there were a few fund managers that elected to cut their entire stakes heading into Q4. At the top of the heap, Ken Griffin’s Citadel Investment Group cut the biggest investment of all the hedgies tracked by Insider Monkey, valued at about $0.9 million in stock. D. E. Shaw’s fund, D E Shaw, also cut its stock, about $0.4 million worth. These transactions are important to note, as total hedge fund interest dropped by 1 funds heading into Q4.

Let’s now take a look at hedge fund activity in other stocks similar to Bassett Furniture Industries Inc. (NASDAQ:BSET). We will take a look at Trecora Resources (NYSE:TREC), AV Homes Inc (NASDAQ:AVHI), Heritage Commerce Corp. (NASDAQ:HTBK), and Gladstone Commercial Corporation (NASDAQ:GOOD). This group of stocks’ market values are closest to BSET’s market value.

As you can see these stocks had an average of 7.75 hedge funds with bullish positions and the average amount invested in these stocks was $19 million. That figure was $45 million in BSET’s case. AV Homes Inc (NASDAQ:AVHI) is the most popular stock in this table. On the other hand Trecora Resources (NYSE:TREC) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Bassett Furniture Industries Inc. (NASDAQ:BSET) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio despite the total number of hedge funds long BSET falling by 1.