1620 Investment Advisors Inc. Acquires New Shares in Bassett Furniture Industries, Incorporated (NASDAQ:BSET)

1620 Investment Advisors Inc. acquired a new stake in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 13,140 shares of the company’s stock, valued at approximately $218,000. 1620 Investment Advisors Inc. owned approximately 0.15% of Bassett Furniture Industries at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BSET. Gamco Investors INC. ET AL grew its position in shares of Bassett Furniture Industries by 1.6% during the 3rd quarter. Gamco Investors INC. ET AL now owns 598,277 shares of the company’s stock valued at $8,765,000 after purchasing an additional 9,172 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Bassett Furniture Industries by 177.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 44,842 shares of the company’s stock valued at $657,000 after purchasing an additional 28,679 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Bassett Furniture Industries by 42.6% during the 3rd quarter. Barclays PLC now owns 9,502 shares of the company’s stock valued at $140,000 after purchasing an additional 2,837 shares in the last quarter. 54.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th.

Bassett Furniture Industries Stock Down 0.7 %

NASDAQ:BSET traded down $0.10 during midday trading on Wednesday, hitting $14.01. The company had a trading volume of 10,545 shares, compared to its average volume of 16,948. Bassett Furniture Industries, Incorporated has a 52-week low of $13.02 and a 52-week high of $17.89. The stock’s fifty day moving average price is $14.16 and its 200-day moving average price is $15.32.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Wednesday, April 3rd. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.15). The business had revenue of $86.55 million during the quarter, compared to the consensus estimate of $91.48 million. Bassett Furniture Industries had a negative return on equity of 0.64% and a negative net margin of 1.57%. As a group, research analysts anticipate that Bassett Furniture Industries, Incorporated will post 0.23 EPS for the current fiscal year.

Bassett Furniture Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend is Thursday, May 16th. Bassett Furniture Industries’s dividend payout ratio (DPR) is -107.46%.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.