Bassett Furniture Industries, Incorporated (BSET) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 1.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 506,300 shares of the company’s stock after purchasing an additional 5,100 shares during the period. Renaissance Technologies LLC owned about 4.72% of Bassett Furniture Industries, worth $19,214,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BSET. Acrospire Investment Management LLC grew its position in Bassett Furniture Industries, by 57.5% during the second quarter. Acrospire Investment Management LLC now owns 3,108 shares of the company’s stock valued at $118,000 after purchasing an additional 1,135 shares in the last quarter. American International Group Inc. grew its position in Bassett Furniture Industries, by 7.0% during the first quarter. American International Group Inc. now owns 6,329 shares of the company’s stock valued at $170,000 after purchasing an additional 414 shares in the last quarter. Bank of America Corp DE grew its position in Bassett Furniture Industries, by 183.8% during the first quarter. Bank of America Corp DE now owns 8,311 shares of the company’s stock valued at $224,000 after purchasing an additional 5,383 shares in the last quarter. Alliancebernstein L.P. purchased a new position in Bassett Furniture Industries, during the second quarter valued at approximately $224,000. Finally, Nationwide Fund Advisors grew its position in Bassett Furniture Industries, by 10.9% during the first quarter. Nationwide Fund Advisors now owns 9,159 shares of the company’s stock valued at $246,000 after purchasing an additional 902 shares in the last quarter. 71.85% of the stock is currently owned by hedge funds and other institutional investors.

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A number of research analysts recently commented on BSET shares. Zacks Investment Research raised shares of Bassett Furniture Industries, from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, July 4th. ValuEngine raised shares of Bassett Furniture Industries, from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub downgraded shares of Bassett Furniture Industries, from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Finally, Stifel Nicolaus boosted their target price on shares of Bassett Furniture Industries, from $28.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, June 30th.

Shares of Bassett Furniture Industries, Incorporated (BSET) opened at 38.05 on Friday. The firm has a 50-day moving average of $36.94 and a 200 day moving average of $33.57. Bassett Furniture Industries, Incorporated has a 52-week low of $22.55 and a 52-week high of $41.30. The company has a market capitalization of $408.47 million, a P/E ratio of 22.23 and a beta of 1.12.

Bassett Furniture Industries, (NASDAQ:BSET) last issued its quarterly earnings results on Thursday, September 28th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $114.30 million during the quarter, compared to analysts’ expectations of $110.65 million. Bassett Furniture Industries, had a net margin of 4.09% and a return on equity of 9.17%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. On average, analysts anticipate that Bassett Furniture Industries, Incorporated will post $1.76 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be paid a dividend of $0.11 per share. The ex-dividend date is Thursday, November 9th. This represents a $0.44 annualized dividend and a dividend yield of 1.16%. Bassett Furniture Industries,’s dividend payout ratio is currently 25.73%.

In other news, SVP Bruce Cohenour sold 9,900 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $38.50, for a total transaction of $381,150.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.40% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Bassett Furniture Industries, (NASDAQ:BSET)

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