Acadian Asset Management LLC Cuts Holdings in Bassett Furniture Industries, Incorporated $BSET

Key Points

• Acadian Asset Management LLC reduced its stake in Bassett Furniture Industries by 9.5%, holding approximately 252,384 shares worth $3,848,000 as of the latest SEC filing.
• Bassett Furniture reported earnings of $0.22 per share, surpassing analysts' estimates, with revenues of $84.35 million during the latest quarter.
• The firm announced a quarterly dividend of $0.20 per share, reflecting an annualized payout of $0.80 and a dividend yield of 4.9%.

Acadian Asset Management LLC decreased its holdings in shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Free Report) by 9.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,384 shares of the company's stock after selling 26,628 shares during the period. Acadian Asset Management LLC owned 2.90% of Bassett Furniture Industries worth $3,848,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jane Street Group LLC bought a new position in Bassett Furniture Industries during the 4th quarter valued at approximately $158,000. Goldman Sachs Group Inc. raised its position in Bassett Furniture Industries by 97.4% during 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. Empowered Funds LLC grew its holdings in shares of Bassett Furniture Industries by 7.9% during the 1st quarter. Empowered Funds LLC now owns 28,643 shares of the company's stock worth $437,000 after acquiring an additional 2,089 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Bassett Furniture Industries by 192.9% during the 1st quarter. Bank of New York Mellon Corp now owns 71,138 shares of the company's stock worth $1,085,000 after acquiring an additional 46,847 shares during the period. Finally, Truffle Hound Capital LLC grew its holdings in shares of Bassett Furniture Industries by 49.3% during the 1st quarter. Truffle Hound Capital LLC now owns 298,520 shares of the company's stock worth $4,552,000 after acquiring an additional 98,520 shares during the period. Institutional investors own 54.40% of the company's stock.

Bassett Furniture Industries Stock Performance

Shares of Bassett Furniture Industries stock traded down $0.06 during midday trading on Friday, hitting $16.16. The company had a trading volume of 110,652 shares, compared to its average volume of 21,073. The stock has a market capitalization of $140.43 million, a P/E ratio of 55.72, a P/E/G ratio of 1.23 and a beta of 0.98. The company has a 50 day moving average of $16.86 and a 200 day moving average of $16.56. Bassett Furniture Industries, Incorporated has a 52-week low of $13.58 and a 52-week high of $19.75.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last posted its quarterly earnings results on Wednesday, July 9th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.07. The company had revenue of $84.35 million for the quarter, compared to the consensus estimate of $82.03 million. Bassett Furniture Industries had a return on equity of 1.48% and a net margin of 0.76%.During the same quarter in the prior year, the business posted ($0.19) EPS. Equities research analysts forecast that Bassett Furniture Industries, Incorporated will post 0.75 EPS for the current year.

Bassett Furniture Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $0.20 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.80 annualized dividend and a dividend yield of 5.0%. Bassett Furniture Industries's dividend payout ratio is presently 275.86%.

Analysts Set New Price Targets

A number of research analysts have weighed in on BSET shares. Wall Street Zen downgraded Bassett Furniture Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Zacks Research downgraded Bassett Furniture Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, August 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold".

Insider Buying and Selling at Bassett Furniture Industries

In related news, SVP John E. Bassett III sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.56, for a total value of $37,120.00. Following the sale, the senior vice president owned 50,761 shares in the company, valued at $942,124.16. This represents a 3.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 7.30% of the stock is owned by 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.