Bassett Furniture Industries (NASDAQ:BSET) Issues Quarterly Earnings Results

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) released its earnings results on Wednesday. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.07, Zacks reports. The firm had revenue of $84,348 billion during the quarter, compared to analysts' expectations of $82.03 million. Bassett Furniture Industries had a return on equity of 1.49% and a net margin of 0.76%. During the same quarter in the prior year, the company earned ($0.19) EPS.

Bassett Furniture Industries Trading Down 4.4%

Shares of Bassett Furniture Industries stock traded down $0.84 during trading hours on Friday, reaching $18.30. 96,276 shares of the company's stock were exchanged, compared to its average volume of 24,049. The company has a 50 day moving average of $16.44 and a two-hundred day moving average of $15.67. Bassett Furniture Industries has a fifty-two week low of $12.11 and a fifty-two week high of $19.75. The stock has a market cap of $159.21 million, a P/E ratio of 63.10, a P/E/G ratio of 1.21 and a beta of 1.19.

Hedge Funds Weigh In On Bassett Furniture Industries

Large investors have recently modified their holdings of the business. Empowered Funds LLC lifted its stake in Bassett Furniture Industries by 7.9% in the 1st quarter. Empowered Funds LLC now owns 28,643 shares of the company's stock valued at $437,000 after purchasing an additional 2,089 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Bassett Furniture Industries by 97.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,840 shares of the company's stock valued at $379,000 after purchasing an additional 12,258 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Bassett Furniture Industries by 87.9% in the 1st quarter. Jane Street Group LLC now owns 21,454 shares of the company's stock valued at $327,000 after purchasing an additional 10,037 shares during the last quarter. 54.40% of the stock is currently owned by institutional investors and hedge funds.

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.