Truffle Hound Capital LLC Lowers Stock Holdings in Bassett Furniture Industries, Incorporated $BSET

Truffle Hound Capital LLC cut its holdings in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 25.0% in the third quarter, Holdings Channel reports. The institutional investor owned 150,000 shares of the company’s stock after selling 50,000 shares during the quarter. Bassett Furniture Industries accounts for 0.7% of Truffle Hound Capital LLC’s holdings, making the stock its 29th largest holding. Truffle Hound Capital LLC’s holdings in Bassett Furniture Industries were worth $2,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BSET. Geode Capital Management LLC grew its stake in Bassett Furniture Industries by 114.3% in the 2nd quarter. Geode Capital Management LLC now owns 190,182 shares of the company’s stock valued at $2,892,000 after acquiring an additional 101,448 shares during the period. Bridgeway Capital Management LLC lifted its holdings in Bassett Furniture Industries by 12.4% during the second quarter. Bridgeway Capital Management LLC now owns 79,434 shares of the company’s stock valued at $1,207,000 after purchasing an additional 8,747 shares in the last quarter. Empowered Funds LLC grew its position in shares of Bassett Furniture Industries by 7.9% in the first quarter. Empowered Funds LLC now owns 28,643 shares of the company’s stock valued at $437,000 after purchasing an additional 2,089 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Bassett Furniture Industries by 97.4% during the first quarter. Goldman Sachs Group Inc. now owns 24,840 shares of the company’s stock worth $379,000 after purchasing an additional 12,258 shares in the last quarter. Finally, Ritholtz Wealth Management raised its position in shares of Bassett Furniture Industries by 40.0% during the 3rd quarter. Ritholtz Wealth Management now owns 21,623 shares of the company’s stock worth $338,000 after purchasing an additional 6,179 shares during the last quarter. Hedge funds and other institutional investors own 54.40% of the company’s stock.

Bassett Furniture Industries Stock Performance

NASDAQ:BSET opened at $15.99 on Friday. Bassett Furniture Industries, Incorporated has a one year low of $13.96 and a one year high of $19.75. The stock has a market cap of $138.31 million, a PE ratio of 22.84, a P/E/G ratio of 1.01 and a beta of 0.99. The stock has a 50 day moving average price of $16.46 and a 200 day moving average price of $16.00.

Bassett Furniture Industries (NASDAQ:BSET) last issued its earnings results on Wednesday, February 4th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.07). Bassett Furniture Industries had a net margin of 1.82% and a return on equity of 3.91%. The company had revenue of $88.67 million during the quarter, compared to analysts’ expectations of $86.90 million. As a group, analysts predict that Bassett Furniture Industries, Incorporated will post 0.75 earnings per share for the current fiscal year.

Bassett Furniture Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 5.0%. The ex-dividend date is Friday, February 13th. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently 114.29%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BSET. Weiss Ratings reiterated a “hold (c)” rating on shares of Bassett Furniture Industries in a report on Wednesday, January 21st. Zacks Research lowered Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a research note on Friday, February 6th. Finally, Wall Street Zen cut Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

About Bassett Furniture Industries

Bassett Furniture Industries, Inc (NASDAQ: BSET), headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett’s products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.