Bassett Furniture Industries Inc. (BSET) Position Boosted by Gabelli Funds LLC
Gabelli Funds LLC increased its position in shares of Bassett Furniture Industries Inc. (NASDAQ:BSET) by 17.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 265,500 shares of the company’s stock after buying an additional 40,103 shares during the period. Gabelli Funds LLC’s holdings in Bassett Furniture Industries were worth $7,315,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Alps Advisors Inc. acquired a new position in Bassett Furniture Industries during the second quarter worth $227,000. KBC Group NV increased its holdings in Bassett Furniture Industries by 48.5% during the first quarter. KBC Group NV now owns 6,365 shares of the company’s stock worth $193,000 after buying an additional 2,079 shares during the last quarter. Citadel Advisors LLC acquired a new position in Bassett Furniture Industries during the first quarter worth $224,000. Element Capital Management LLC acquired a new position in Bassett Furniture Industries during the first quarter worth $228,000. Finally, Russell Investments Group Ltd. increased its holdings in Bassett Furniture Industries by 376.5% during the first quarter. Russell Investments Group Ltd. now owns 8,100 shares of the company’s stock worth $246,000 after buying an additional 6,400 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.
A number of brokerages recently weighed in on BSET. BidaskClub upgraded shares of Bassett Furniture Industries from a “strong sell” rating to a “sell” rating in a report on Thursday, August 23rd. Sidoti upgraded shares of Bassett Furniture Industries from a “neutral” rating to a “buy” rating in a report on Thursday, May 10th. Finally, Zacks Investment Research upgraded shares of Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 30th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $39.00.
Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings data on Thursday, June 28th. The company reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. Bassett Furniture Industries had a net margin of 2.82% and a return on equity of 7.93%. The firm had revenue of $116.00 million for the quarter, compared to the consensus estimate of $112.86 million. During the same period in the previous year, the company earned $0.54 earnings per share. equities research analysts predict that Bassett Furniture Industries Inc. will post 1.33 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 24th. Shareholders of record on Friday, August 10th were issued a $0.125 dividend. This is an increase from Bassett Furniture Industries’s previous quarterly dividend of $0.11. This represents a $0.50 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Thursday, August 9th. Bassett Furniture Industries’s payout ratio is currently 31.65%.
Bassett Furniture Industries 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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