GSA Capital Partners LLP cut its stake in Bassett Furniture Industries Inc. (NASDAQ:BSET) by 14.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,528 shares of the company’s stock after selling 2,900 shares during the period. GSA Capital Partners LLP owned about 0.15% of Bassett Furniture Industries worth $396,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of Bassett Furniture Industries during the second quarter valued at approximately $136,000. Smith Asset Management Group LP boosted its stake in Bassett Furniture Industries by 69.8% in the second quarter. Smith Asset Management Group LP now owns 9,970 shares of the company’s stock worth $239,000 after buying an additional 4,100 shares in the last quarter. KBC Group NV boosted its stake in Bassett Furniture Industries by 16.5% in the second quarter. KBC Group NV now owns 10,945 shares of the company’s stock worth $262,000 after buying an additional 1,553 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in Bassett Furniture Industries during the first quarter worth about $273,000. Finally, Suntrust Banks Inc. boosted its stake in Bassett Furniture Industries by 0.5% in the second quarter. Suntrust Banks Inc. now owns 20,454 shares of the company’s stock worth $489,000 after buying an additional 98 shares in the last quarter. 71.64% of the stock is currently owned by institutional investors.
Bassett Furniture Industries Inc. (NASDAQ:BSET) traded up 2.81% during mid-day trading on Thursday, hitting $25.22. The stock had a trading volume of 41,071 shares. The stock’s 50 day moving average price is $25.09 and its 200 day moving average price is $27.93. Bassett Furniture Industries Inc. has a one year low of $22.97 and a one year high of $33.68. The firm has a market capitalization of $275.00 million, a price-to-earnings ratio of 16.69 and a beta of 1.02.
Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings data on Thursday, June 30th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.43 by $0.12. The firm had revenue of $106.70 million for the quarter. Bassett Furniture Industries had a return on equity of 9.55% and a net margin of 3.76%. Bassett Furniture Industries’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 earnings per share. Analysts forecast that Bassett Furniture Industries Inc. will post $1.49 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, August 10th. This is a boost from Bassett Furniture Industries’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.59%. Bassett Furniture Industries’s dividend payout ratio is 26.32%.
Separately, Zacks Investment Research upgraded Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 30th.
In other Bassett Furniture Industries news, CEO Robert H. Spilman, Jr. acquired 4,000 shares of the business’s stock in a transaction dated Thursday, June 30th. The stock was bought at an average cost of $23.64 per share, with a total value of $94,560.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Paul Fulton acquired 2,000 shares of the business’s stock in a transaction dated Thursday, June 30th. The stock was acquired at an average cost of $23.96 per share, with a total value of $47,920.00. The disclosure for this purchase can be found here. Corporate insiders own 7.00% of the company’s stock.
Bassett Furniture Industries Company Profile
Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.
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