Friday, October 30

Bank of New York Mellon Corp Reduces Stake in Bassett Furniture Industries Inc. (NASDAQ:BSET)

Bank of New York Mellon Corp lessened its stake in shares of Bassett Furniture Industries Inc. (NASDAQ:BSET) by 22.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 72,144 shares of the company’s stock after selling 20,926 shares during the period. Bank of New York Mellon Corp owned 0.72% of Bassett Furniture Industries worth $530,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Advisor Group Holdings Inc. acquired a new stake in Bassett Furniture Industries during the 1st quarter worth approximately $57,000. State of Wisconsin Investment Board purchased a new stake in Bassett Furniture Industries in the second quarter valued at $76,000. Engineers Gate Manager LP acquired a new stake in Bassett Furniture Industries during the 1st quarter worth about $83,000. Squarepoint Ops LLC raised its stake in shares of Bassett Furniture Industries by 36.8% during the 1st quarter. Squarepoint Ops LLC now owns 19,969 shares of the company’s stock valued at $109,000 after buying an additional 5,367 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Bassett Furniture Industries by 32.7% during the 1st quarter. Wells Fargo & Company MN now owns 23,787 shares of the company’s stock valued at $129,000 after buying an additional 5,865 shares during the last quarter. 56.58% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ BSET opened at $15.89 on Tuesday. The business has a fifty day moving average price of $12.74 and a 200 day moving average price of $8.34. The company has a market cap of $158.82 million, a P/E ratio of -7.19 and a beta of 1.68. Bassett Furniture Industries Inc. has a one year low of $4.25 and a one year high of $18.24.

Bassett Furniture Industries (NASDAQ:BSET) last released its earnings results on Tuesday, October 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.29. Bassett Furniture Industries had a negative net margin of 5.80% and a negative return on equity of 0.62%.

Several research analysts recently weighed in on the company. Zacks Investment Research cut Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, July 14th. TheStreet lowered shares of Bassett Furniture Industries from a “c-” rating to a “d” rating in a report on Monday, July 20th.

In other Bassett Furniture Industries news, CEO Robert H. Spilman, Jr. acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were purchased at an average price of $7.60 per share, for a total transaction of $38,000.00. Following the completion of the purchase, the chief executive officer now directly owns 251,431 shares in the company, valued at $1,910,875.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William C. Wampler, Jr. bought 2,750 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was acquired at an average cost of $9.13 per share, for a total transaction of $25,107.50. Following the acquisition, the director now directly owns 17,489 shares of the company’s stock, valued at $159,674.57. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 12,750 shares of company stock valued at $98,708. 5.90% of the stock is currently owned by company insiders.

Bassett Furniture Industries Profile

Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail, and Logistical Services. The company engages in the design, manufacture, sourcing, distribution, and sale of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings retail stores, as well as independent furniture retailers; and wood and upholstery operations.

Read More: Return on Investment (ROI) Defined, Explained

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

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