North Star Investment Management Corp. purchased a new stake in Bassett Furniture Industries Inc. (NASDAQ:BSET) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 42,000 shares of the company’s stock, valued at approximately $892,000. North Star Investment Management Corp. owned approximately 0.39% of Bassett Furniture Industries as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Alps Advisors Inc. bought a new position in Bassett Furniture Industries in the 2nd quarter valued at about $227,000. Citadel Advisors LLC bought a new position in shares of Bassett Furniture Industries during the 1st quarter worth approximately $224,000. Element Capital Management LLC bought a new position in shares of Bassett Furniture Industries during the 1st quarter worth approximately $228,000. Russell Investments Group Ltd. lifted its position in shares of Bassett Furniture Industries by 376.5% during the 1st quarter. Russell Investments Group Ltd. now owns 8,100 shares of the company’s stock worth $246,000 after buying an additional 6,400 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Bassett Furniture Industries during the 2nd quarter worth approximately $252,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.
Bassett Furniture Industries stock opened at $20.95 on Friday. Bassett Furniture Industries Inc. has a 52 week low of $19.90 and a 52 week high of $40.95. The company has a market cap of $226.07 million, a price-to-earnings ratio of 13.26 and a beta of 0.73.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Friday, November 9th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.50 annualized dividend and a dividend yield of 2.39%. Bassett Furniture Industries’s dividend payout ratio is currently 31.65%.
Several equities analysts have commented on the stock. BidaskClub raised shares of Bassett Furniture Industries from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 23rd. Stifel Nicolaus dropped their target price on shares of Bassett Furniture Industries from $29.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, September 28th. ValuEngine cut shares of Bassett Furniture Industries from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research cut shares of Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research report on Friday, August 31st. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $33.00.
Bassett Furniture Industries Company Profile
Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States. The company operates in three segments: Wholesale, Retail, and Logistical Services. It is involved in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings (BHF) retail stores, as well as independent furniture retailers; and wood and upholstery operations.
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