Gate City Capital Management LLC Trims Stock Holdings in Bassett Furniture Industries, Incorporated $BSET

by · The Cerbat Gem

Gate City Capital Management LLC lowered its position in shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET – Free Report) by 42.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,219 shares of the company’s stock after selling 76,813 shares during the quarter. Bassett Furniture Industries comprises approximately 0.9% of Gate City Capital Management LLC’s portfolio, making the stock its 15th biggest position. Gate City Capital Management LLC owned 1.20% of Bassett Furniture Industries worth $1,584,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Group One Trading LLC bought a new position in shares of Bassett Furniture Industries in the 2nd quarter worth about $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Bassett Furniture Industries in the second quarter worth about $68,000. JPMorgan Chase & Co. purchased a new stake in Bassett Furniture Industries in the second quarter worth about $83,000. New York State Common Retirement Fund bought a new position in shares of Bassett Furniture Industries during the second quarter valued at approximately $106,000. Finally, Ritholtz Wealth Management purchased a new position in shares of Bassett Furniture Industries during the second quarter valued at approximately $235,000. Institutional investors own 54.40% of the company’s stock.

Bassett Furniture Industries Price Performance

Shares of NASDAQ:BSET opened at $16.96 on Friday. Bassett Furniture Industries, Incorporated has a 1 year low of $13.62 and a 1 year high of $19.75. The company has a market cap of $147.38 million, a P/E ratio of 18.84, a PEG ratio of 0.98 and a beta of 1.06. The stock’s fifty day moving average price is $15.30 and its 200-day moving average price is $16.05.

Bassett Furniture Industries (NASDAQ:BSET – Get Free Report) last released its quarterly earnings data on Wednesday, October 8th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $80.10 million during the quarter, compared to the consensus estimate of $79.89 million. Bassett Furniture Industries had a return on equity of 4.67% and a net margin of 2.35%.During the same period last year, the company earned ($0.52) EPS. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, November 14th. Bassett Furniture Industries’s payout ratio is presently 88.89%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BSET. Zacks Research downgraded Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, December 1st. Sidoti raised Bassett Furniture Industries to a “strong-buy” rating in a report on Thursday, October 9th. Wall Street Zen raised Bassett Furniture Industries from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bassett Furniture Industries in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Bassett Furniture Industries has a consensus rating of “Hold”.

Get Our Latest Research Report on BSET

Bassett Furniture Industries Profile

(Free Report)

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.

Further Reading

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