Acadian Asset Management LLC Lowers Stock 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 reduced its stake in Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Free Report) by 9.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,384 shares of the company's stock after selling 26,628 shares during the quarter. Acadian Asset Management LLC owned about 2.90% of Bassett Furniture Industries worth $3,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in BSET. Jane Street Group LLC purchased a new position in shares of Bassett Furniture Industries in the fourth quarter worth $158,000. Goldman Sachs Group Inc. boosted its holdings in shares of 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 buying an additional 12,258 shares in the last quarter. Empowered Funds LLC boosted 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 worth $437,000 after purchasing an additional 2,089 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Bassett Furniture Industries by 192.9% in the 1st quarter. Bank of New York Mellon Corp now owns 71,138 shares of the company's stock worth $1,085,000 after purchasing an additional 46,847 shares in the last quarter. Finally, Truffle Hound Capital LLC boosted its stake in Bassett Furniture Industries by 49.3% in the 1st quarter. Truffle Hound Capital LLC now owns 298,520 shares of the company's stock worth $4,552,000 after purchasing an additional 98,520 shares in the last quarter. 54.40% of the stock is owned by hedge funds and other institutional investors.

Bassett Furniture Industries Price Performance

Shares of BSET opened at $16.37 on Monday. The company has a 50 day simple moving average of $16.99 and a two-hundred day simple moving average of $16.55. Bassett Furniture Industries, Incorporated has a 1 year low of $13.57 and a 1 year high of $19.75. The firm has a market cap of $142.26 million, a P/E ratio of 56.45, a price-to-earnings-growth ratio of 1.24 and a beta of 0.98.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last posted its earnings results on Wednesday, July 9th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.07. The firm had revenue of $84.35 million during the quarter, compared to analyst estimates of $82.03 million. Bassett Furniture Industries had a net margin of 0.76% and a return on equity of 1.48%. During the same period last year, the firm posted ($0.19) earnings per share. On average, sell-side analysts anticipate that Bassett Furniture Industries, Incorporated will post 0.75 earnings per share for the current year.

Bassett Furniture Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Friday, August 15th. Bassett Furniture Industries's dividend payout ratio (DPR) is 275.86%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BSET shares. Zacks Research lowered Bassett Furniture Industries from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 29th. Wall Street Zen lowered shares of Bassett Furniture Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Bassett Furniture Industries currently 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 Bassett Furniture Industries stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $18.56, for a total value of $37,120.00. Following the completion of the sale, the senior vice president directly owned 50,761 shares in the company, valued at $942,124.16. The trade was a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 7.30% of the company's stock.

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.

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