Bassett Furniture Industries Inc. (NASDAQ:BSET) SVP John E. Bassett III sold 1,500 shares of the company’s stock in a transaction dated Thursday, April 12th. The stock was sold at an average price of $29.50, for a total transaction of $44,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
BSET stock traded up $0.25 during trading on Friday, reaching $29.35. The stock had a trading volume of 20,990 shares, compared to its average volume of 47,799. Bassett Furniture Industries Inc. has a one year low of $27.43 and a one year high of $41.30. The company has a market capitalization of $312.98, a price-to-earnings ratio of 18.58 and a beta of 0.87.
Bassett Furniture Industries (NASDAQ:BSET) last released its earnings results on Wednesday, March 28th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.19). Bassett Furniture Industries had a net margin of 3.17% and a return on equity of 8.10%. The company had revenue of $110.27 million for the quarter, compared to the consensus estimate of $111.75 million. research analysts predict that Bassett Furniture Industries Inc. will post 1.41 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Bassett Furniture Industries from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Thursday, December 28th. BidaskClub downgraded shares of Bassett Furniture Industries from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 6th. Finally, Stifel Nicolaus reduced their price objective on shares of Bassett Furniture Industries from $37.00 to $33.00 and set a “hold” rating for the company in a research report on Thursday, March 29th.
Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of Bassett Furniture Industries by 441.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,620 shares of the company’s stock valued at $178,000 after acquiring an additional 3,767 shares during the period. MetLife Investment Advisors LLC bought a new position in shares of Bassett Furniture Industries during the 4th quarter valued at approximately $202,000. Captrust Financial Advisors bought a new position in shares of Bassett Furniture Industries during the 4th quarter valued at approximately $226,000. Alps Advisors Inc. bought a new position in shares of Bassett Furniture Industries during the 4th quarter valued at approximately $227,000. Finally, Russell Investments Group Ltd. grew its position in shares of Bassett Furniture Industries by 22.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 7,765 shares of the company’s stock valued at $293,000 after acquiring an additional 1,428 shares during the period. 73.42% of the stock is owned by hedge funds and other institutional investors.
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Bassett Furniture Industries Company Profile
Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.
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