Gamco Investors, Inc. Et Al stated that they own a 10.8% stake in Bassett Furniture Industries Inc. (NASDAQ:BSET) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Monday, April 2nd. The investor owns 1,165,917 shares of the stock worth about $34,977,510. The reporting parties listed on the disclosure included Gabelli Funds, LLC ID No 134044523, GAMCO Asset Management Inc ID No 134044521, Teton Advisors, Inc ID No 134008049, Gabelli & Company Investment Advisers, Inc ID No 133379374, GGCP, Inc ID No 133056041, GAMCO Investors, Inc ID No 134007862, Associated Capital Group, Inc ID No 473965991 and Mario J Gabelli. The disclosure is available through Edgar at this hyperlink.
A number of other hedge funds have also bought and sold shares of BSET. MetLife Investment Advisors LLC bought a new stake in shares of Bassett Furniture Industries in the fourth quarter valued at $202,000. Millennium Management LLC raised its stake in shares of Bassett Furniture Industries by 241.0% in the fourth quarter. Millennium Management LLC now owns 108,306 shares of the company’s stock valued at $4,072,000 after buying an additional 76,542 shares during the period. Captrust Financial Advisors bought a new stake in shares of Bassett Furniture Industries in the fourth quarter valued at $226,000. Two Sigma Investments LP raised its stake in shares of Bassett Furniture Industries by 16.3% in the fourth quarter. Two Sigma Investments LP now owns 18,833 shares of the company’s stock valued at $708,000 after buying an additional 2,636 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Bassett Furniture Industries by 60.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 34,006 shares of the company’s stock valued at $1,279,000 after buying an additional 12,823 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.
BSET has been the topic of several research reports. Zacks Investment Research upgraded Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 20th. BidaskClub upgraded Bassett Furniture Industries from a “strong sell” rating to a “sell” rating in a research note on Saturday, February 17th. Finally, Stifel Nicolaus decreased their price objective on Bassett Furniture Industries from $37.00 to $33.00 and set a “hold” rating on the stock in a research note on Thursday.
Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings data on Wednesday, March 28th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. sell-side analysts predict that Bassett Furniture Industries Inc. will post 1.72 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Friday, May 11th will be paid a $0.11 dividend. The ex-dividend date is Thursday, May 10th. This represents a $0.44 dividend on an annualized basis and a yield of 1.47%. Bassett Furniture Industries’s dividend payout ratio is currently 27.85%.
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About Bassett Furniture Industries
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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