Hsbc Holdings PLC Purchases New Position in Bassett Furniture Industries, Incorporated $BSET

Hsbc Holdings PLC acquired a new position in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,973 shares of the company’s stock, valued at approximately $465,000. Hsbc Holdings PLC owned about 0.32% of Bassett Furniture Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nalls Sherbakoff Group LLC acquired a new stake in Bassett Furniture Industries in the fourth quarter valued at approximately $46,000. Invesco Ltd. acquired a new position in shares of Bassett Furniture Industries during the 4th quarter worth $175,000. Empowered Funds LLC raised its holdings in shares of Bassett Furniture Industries by 10.1% during the 4th quarter. Empowered Funds LLC now owns 38,544 shares of the company’s stock valued at $646,000 after purchasing an additional 3,543 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Bassett Furniture Industries by 10.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 91,786 shares of the company’s stock valued at $1,538,000 after purchasing an additional 8,743 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Bassett Furniture Industries by 95.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,504 shares of the company’s stock valued at $25,000 after purchasing an additional 734 shares in the last quarter. Institutional investors own 54.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Bassett Furniture Industries from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Zacks Research upgraded Bassett Furniture Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings raised Bassett Furniture Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Bassett Furniture Industries Stock Performance

Bassett Furniture Industries stock opened at $21.78 on Friday. The business’s 50-day simple moving average is $16.42 and its 200-day simple moving average is $15.61. The firm has a market capitalization of $188.61 million, a PE ratio of 34.03, a PEG ratio of 1.52 and a beta of 0.76. Bassett Furniture Industries, Incorporated has a 52 week low of $13.17 and a 52 week high of $22.26.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $83.75 million during the quarter, compared to analysts’ expectations of $83.32 million. Bassett Furniture Industries had a return on equity of 3.56% and a net margin of 1.65%.During the same quarter in the previous year, the firm earned $0.22 EPS. Research analysts forecast that Bassett Furniture Industries, Incorporated will post 0.89 earnings per share for the current year.

Bassett Furniture Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.7%. Bassett Furniture Industries’s payout ratio is 125.00%.

Bassett Furniture Industries Profile

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.