Bassett Furniture Industries Inc. (NASDAQ:BSET) Director John R. Belk purchased 3,306 shares of the business’s stock in a transaction on Thursday, October 4th. The shares were purchased at an average price of $20.99 per share, with a total value of $69,392.94. Following the acquisition, the director now directly owns 16,109 shares in the company, valued at $338,127.91. The acquisition was disclosed in a filing with the SEC, which is available through this link.
Shares of BSET stock traded down $0.14 on Friday, reaching $19.72. 36,285 shares of the company’s stock were exchanged, compared to its average volume of 42,522. The firm has a market capitalization of $212.02 million, a P/E ratio of 12.48 and a beta of 0.89. Bassett Furniture Industries Inc. has a 52 week low of $18.86 and a 52 week high of $40.30.
Bassett Furniture Industries (NASDAQ:BSET) last issued its earnings results on Thursday, September 27th. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.14). The firm had revenue of $112.96 million for the quarter. Bassett Furniture Industries had a net margin of 2.47% and a return on equity of 7.07%. On average, equities research analysts anticipate that Bassett Furniture Industries Inc. will post 1.19 earnings per share for the current fiscal year.
BSET has been the subject of a number of recent research reports. BidaskClub upgraded Bassett Furniture Industries from a “strong sell” rating to a “sell” rating in a report on Thursday, August 23rd. Stifel Nicolaus dropped their target price on Bassett Furniture Industries from $29.00 to $21.00 and set a “hold” rating for the company in a report on Friday, September 28th. ValuEngine cut Bassett Furniture Industries from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Finally, Zacks Investment Research lowered Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research note on Friday, August 31st. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. Bassett Furniture Industries currently has a consensus rating of “Hold” and a consensus target price of $33.00.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. bought a new position in shares of Bassett Furniture Industries in the 3rd quarter worth $2,460,000. Gamco Investors INC. ET AL raised its position in shares of Bassett Furniture Industries by 15.6% in the 2nd quarter. Gamco Investors INC. ET AL now owns 822,709 shares of the company’s stock worth $22,666,000 after acquiring an additional 111,223 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Bassett Furniture Industries by 17.2% in the 2nd quarter. Renaissance Technologies LLC now owns 719,999 shares of the company’s stock worth $19,836,000 after acquiring an additional 105,599 shares in the last quarter. North Star Investment Management Corp. bought a new position in shares of Bassett Furniture Industries in the 3rd quarter worth $892,000. Finally, Gabelli Funds LLC raised its position in shares of Bassett Furniture Industries by 17.8% in the 2nd quarter. Gabelli Funds LLC now owns 265,500 shares of the company’s stock worth $7,315,000 after acquiring an additional 40,103 shares in the last quarter. 74.22% of the stock is owned by institutional investors and hedge funds.
Bassett Furniture Industries Company Profile
Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States. The company operates in three segments: Wholesale, Retail, and Logistical Services. It is involved in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings (BHF) retail stores, as well as independent furniture retailers; and wood and upholstery operations.
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