John R. Belk Buys 3,847 Shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Stock

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) Director John R. Belk acquired 3,847 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average price of $12.70 per share, for a total transaction of $48,856.90. Following the completion of the acquisition, the director now owns 41,047 shares of the company’s stock, valued at $521,296.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Bassett Furniture Industries Stock Up 1.1 %

Shares of NASDAQ BSET traded up $0.14 during mid-day trading on Tuesday, reaching $12.81. 9,533 shares of the company were exchanged, compared to its average volume of 19,394. Bassett Furniture Industries, Incorporated has a twelve month low of $12.10 and a twelve month high of $17.89. The stock has a market capitalization of $113.10 million, a P/E ratio of -7.32 and a beta of 1.69. The company’s 50-day simple moving average is $13.70 and its 200-day simple moving average is $14.33.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings data on Wednesday, July 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.07). Bassett Furniture Industries had a negative return on equity of 2.30% and a negative net margin of 4.29%. The company had revenue of $83.41 million for the quarter, compared to analyst estimates of $86.21 million.

Bassett Furniture Industries Increases Dividend

The company 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 $0.20 dividend. The ex-dividend date of this dividend is Friday, August 16th. This is an increase from Bassett Furniture Industries’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 6.25%. Bassett Furniture Industries’s payout ratio is -46.24%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in shares of Bassett Furniture Industries in the first quarter valued at about $224,000. Inspire Advisors LLC raised its stake in Bassett Furniture Industries by 119.5% in the 2nd quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock worth $370,000 after purchasing an additional 14,183 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in Bassett Furniture Industries in the 4th quarter valued at about $218,000. Finally, Empowered Funds LLC grew 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 worth $333,000 after purchasing an additional 1,575 shares in the last quarter. 54.40% of the stock is owned by institutional investors and hedge funds.

About Bassett Furniture Industries

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.