Gate City Capital Management LLC Has $2.04 Million Holdings in Bassett Furniture Industries, Incorporated (NASDAQ:BSET)

Gate City Capital Management LLC raised its position in Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Free Report) by 59.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 147,527 shares of the company's stock after acquiring an additional 55,130 shares during the period. Bassett Furniture Industries comprises approximately 1.2% of Gate City Capital Management LLC's holdings, making the stock its 14th largest holding. Gate City Capital Management LLC owned 1.68% of Bassett Furniture Industries worth $2,040,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Truffle Hound Capital LLC acquired a new position in Bassett Furniture Industries in the fourth quarter valued at about $2,766,000. Aristides Capital LLC raised its position in Bassett Furniture Industries by 16.0% in the 4th quarter. Aristides Capital LLC now owns 43,111 shares of the company's stock valued at $596,000 after purchasing an additional 5,935 shares during the last quarter. Empowered Funds LLC boosted its stake in Bassett Furniture Industries by 4.5% in the fourth quarter. Empowered Funds LLC now owns 26,554 shares of the company's stock worth $367,000 after purchasing an additional 1,135 shares in the last quarter. FourThought Financial Partners LLC bought a new stake in shares of Bassett Furniture Industries during the fourth quarter worth $180,000. Finally, Jane Street Group LLC bought a new stake in shares of Bassett Furniture Industries during the fourth quarter worth $158,000. Institutional investors own 54.40% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Bassett Furniture Industries from a "hold" rating to a "buy" rating in a research report on Friday, January 31st.

Bassett Furniture Industries Trading Up 1.6%

Shares of NASDAQ:BSET traded up $0.28 during midday trading on Wednesday, hitting $17.65. The company had a trading volume of 12,325 shares, compared to its average volume of 21,418. Bassett Furniture Industries, Incorporated has a 12 month low of $12.10 and a 12 month high of $19.67. The stock has a market cap of $153.63 million, a price-to-earnings ratio of -16.05, a PEG ratio of 1.29 and a beta of 1.26. The firm has a fifty day simple moving average of $16.53 and a 200 day simple moving average of $15.22.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last posted its quarterly earnings data on Wednesday, April 2nd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.19. Bassett Furniture Industries had a negative return on equity of 2.44% and a negative net margin of 2.94%. The company had revenue of $82.16 million during the quarter, compared to analysts' expectations of $79.71 million. During the same period in the prior year, the firm earned ($0.14) earnings per share. Equities analysts forecast that Bassett Furniture Industries, Incorporated will post 0.75 EPS for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a $0.20 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.80 annualized dividend and a dividend yield of 4.53%. Bassett Furniture Industries's dividend payout ratio is presently -106.67%.

About Bassett Furniture Industries

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.