Bassett Furniture Industries Inc. (NASDAQ:BSET) CEO Purchases $23,800.00 in Stock

Bassett Furniture Industries Inc. (NASDAQ:BSET) CEO Robert H. Spilman, Jr. acquired 2,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $11.90 per share, with a total value of $23,800.00. Following the acquisition, the chief executive officer now owns 190,000 shares in the company, valued at approximately $2,261,000. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

BSET traded down $0.02 during trading hours on Friday, reaching $11.96. The company’s stock had a trading volume of 53,100 shares, compared to its average volume of 32,781. Bassett Furniture Industries Inc. has a 52 week low of $11.78 and a 52 week high of $24.80. The company’s 50-day moving average is $13.02 and its 200-day moving average is $16.04. The firm has a market cap of $132.20 million, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.38 and a beta of 0.80.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Tuesday, July 2nd. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.24). Bassett Furniture Industries had a net margin of 1.29% and a return on equity of 3.39%. The business had revenue of $108.19 million during the quarter, compared to the consensus estimate of $115.39 million. Analysts predict that Bassett Furniture Industries Inc. will post 0.57 EPS for the current year.



The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Thursday, August 15th. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently 51.55%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Panagora Asset Management Inc. bought a new stake in Bassett Furniture Industries in the 2nd quarter valued at $28,000. BNP Paribas Arbitrage SA raised its stake in Bassett Furniture Industries by 249.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,113 shares of the company’s stock valued at $35,000 after acquiring an additional 1,509 shares during the period. Metropolitan Life Insurance Co. NY bought a new stake in Bassett Furniture Industries in the 4th quarter valued at $73,000. MetLife Investment Advisors LLC bought a new stake in Bassett Furniture Industries in the 4th quarter valued at $100,000. Finally, Spark Investment Management LLC bought a new stake in Bassett Furniture Industries in the 1st quarter valued at $244,000. Institutional investors and hedge funds own 71.64% of the company’s stock.

Several research firms have recently commented on BSET. ValuEngine downgraded Bassett Furniture Industries from a “hold” rating to a “sell” rating in a report on Friday, April 19th. Zacks Investment Research downgraded Bassett Furniture Industries from a “hold” rating to a “sell” rating in a report on Monday, July 1st.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail, and Logistical Services. The company engages in the design, manufacture, sourcing, distribution, and sale of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings retail stores, as well as independent furniture retailers; and wood and upholstery operations.

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