Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Position Lifted by Inspire Advisors LLC

Inspire Advisors LLC raised its stake in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 119.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 26,055 shares of the company’s stock after purchasing an additional 14,183 shares during the period. Inspire Advisors LLC owned 0.30% of Bassett Furniture Industries worth $370,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Empowered Funds LLC grew its stake in Bassett Furniture Industries by 7.5% in the first quarter. Empowered Funds LLC now owns 22,593 shares of the company’s stock worth $333,000 after purchasing an additional 1,575 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Bassett Furniture Industries in the 1st quarter worth approximately $224,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Bassett Furniture Industries in the 4th quarter valued at approximately $218,000. Institutional investors and hedge funds own 54.40% of the company’s stock.

Bassett Furniture Industries Price Performance

Shares of BSET opened at $13.80 on Friday. The stock has a market capitalization of $121.30 million, a PE ratio of -7.98 and a beta of 1.69. The business’s fifty day moving average price is $13.32 and its 200 day moving average price is $13.97. Bassett Furniture Industries, Incorporated has a 12-month low of $12.10 and a 12-month high of $17.89.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Wednesday, July 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). Bassett Furniture Industries had a negative return on equity of 2.30% and a negative net margin of 4.29%. The business had revenue of $83.41 million during the quarter, compared to the consensus estimate of $86.21 million. As a group, research analysts anticipate that Bassett Furniture Industries, Incorporated will post -0.55 earnings per share for the current fiscal year.

Bassett Furniture Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 16th. This is a positive change from Bassett Furniture Industries’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 5.80%. Bassett Furniture Industries’s dividend payout ratio is -46.24%.

Insider Transactions at Bassett Furniture Industries

In related news, Director John R. Belk acquired 3,847 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $12.70 per share, for a total transaction of $48,856.90. Following the purchase, the director now directly owns 41,047 shares in the company, valued at $521,296.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have purchased 5,324 shares of company stock worth $67,651. 7.10% of the stock is currently owned by company insiders.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.