Insider Buying: Bassett Furniture Industries Inc. (NASDAQ:BSET) Director Purchases 3,306 Shares of Stock

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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.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Friday, November 9th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Thursday, November 8th. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently 31.65%.

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.

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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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