LSV Asset Management Sells 59,400 Shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET)

LSV Asset Management trimmed its position in shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 29.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,182 shares of the company’s stock after selling 59,400 shares during the period. LSV Asset Management owned 1.62% of Bassett Furniture Industries worth $2,035,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BSET. 1620 Investment Advisors Inc. bought a new stake in shares of Bassett Furniture Industries during the 4th quarter valued at $218,000. Assenagon Asset Management S.A. bought a new stake in shares of Bassett Furniture Industries during the 1st quarter valued at $224,000. Empowered Funds LLC raised its position in shares of Bassett Furniture Industries by 7.5% during the 1st quarter. Empowered Funds LLC now owns 22,593 shares of the company’s stock valued at $333,000 after purchasing an additional 1,575 shares during the period. Finally, Inspire Advisors LLC raised its position in shares of Bassett Furniture Industries by 8.0% during the 1st quarter. Inspire Advisors LLC now owns 11,872 shares of the company’s stock valued at $175,000 after purchasing an additional 880 shares during the period. 54.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bassett Furniture Industries

In related news, Director John R. Belk purchased 3,847 shares of Bassett Furniture Industries stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $12.70 per share, for a total transaction of $48,856.90. Following the acquisition, the director now owns 41,047 shares in the company, valued at approximately $521,296.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have purchased 5,324 shares of company stock worth $67,651. Insiders own 7.10% of the company’s stock.

Bassett Furniture Industries Stock Performance

Shares of NASDAQ BSET opened at $13.40 on Friday. The company has a market cap of $118.31 million, a P/E ratio of -7.75 and a beta of 1.69. The firm’s fifty day moving average is $13.32 and its two-hundred day moving average is $13.99. Bassett Furniture Industries, Incorporated has a 52-week low of $12.10 and a 52-week high of $17.89.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings results on Wednesday, July 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). The company had revenue of $83.41 million during the quarter, compared to the consensus estimate of $86.21 million. Bassett Furniture Industries had a negative net margin of 4.29% and a negative return on equity of 2.30%. As a group, analysts forecast that Bassett Furniture Industries, Incorporated will post -0.55 EPS for the current fiscal year.

Bassett Furniture Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.20 dividend. This is an increase from Bassett Furniture Industries’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date of this dividend was Friday, August 16th. Bassett Furniture Industries’s payout ratio is currently -46.24%.

Bassett Furniture Industries 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.