John E. Bassett III Sells 2,000 Shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Stock

Key Points

• SVP John E. Bassett III sold 2,000 shares of Bassett Furniture stock at an average price of $18.56, resulting in a total transaction of $37,120 and a 3.79% decrease in his ownership.
• Bassett Furniture reported a quarterly earnings per share of $0.22, which exceeded analysts' estimates by $0.07, contributing to a revenue of $84.348 million for the quarter.
• The company announced a quarterly dividend of $0.20 per share, with an upcoming payment date of August 29th, representing an annualized yield of 4.59%.

Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Get Free Report) SVP John E. Bassett III sold 2,000 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $18.56, for a total transaction of $37,120.00. Following the completion of the transaction, the senior vice president directly owned 50,761 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website.

Bassett Furniture Industries Stock Performance

Shares of Bassett Furniture Industries stock traded down $0.80 during trading on Friday, reaching $17.43. The company had a trading volume of 49,565 shares, compared to its average volume of 33,811. Bassett Furniture Industries, Incorporated has a fifty-two week low of $12.10 and a fifty-two week high of $19.75. The firm's fifty day moving average is $16.63 and its 200-day moving average is $15.99. The company has a market cap of $151.47 million, a price-to-earnings ratio of 60.10, a price-to-earnings-growth ratio of 1.41 and a beta of 1.19.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last announced its quarterly earnings data 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. Bassett Furniture Industries had a net margin of 0.76% and a return on equity of 1.48%. The business had revenue of $84,348 billion during the quarter, compared to the consensus estimate of $82.03 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. On average, research analysts anticipate that Bassett Furniture Industries, Incorporated will post 0.75 EPS for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.59%. The ex-dividend date is Friday, August 15th. Bassett Furniture Industries's dividend payout ratio is presently 275.86%.

Institutional Investors Weigh In On Bassett Furniture Industries

Several hedge funds have recently made changes to their positions in the company. Aristides Capital LLC lifted 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 worth $596,000 after buying an additional 5,935 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Bassett Furniture Industries during the 4th quarter worth $158,000. Gate City Capital Management LLC increased its stake in shares of Bassett Furniture Industries by 59.7% during the 4th quarter. Gate City Capital Management LLC now owns 147,527 shares of the company's stock worth $2,040,000 after purchasing an additional 55,130 shares during the last quarter. Bank of New York Mellon Corp increased its stake 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 purchasing an additional 46,847 shares during the last quarter. Finally, Truffle Hound Capital LLC increased its stake 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 purchasing an additional 98,520 shares during the last quarter. Hedge funds and other institutional investors own 54.40% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Bassett Furniture Industries from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 12th.

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.

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