Bassett Furniture Industries (NASDAQ:BSET) Lowered to “Hold” Rating by StockNews.com

StockNews.com cut shares of Bassett Furniture Industries (NASDAQ:BSET) from a buy rating to a hold rating in a report published on Tuesday.

Bassett Furniture Industries Price Performance

BSET opened at $14.84 on Tuesday. The business has a fifty day simple moving average of $14.19 and a 200 day simple moving average of $13.89. The company has a market capitalization of $130.61 million, a PE ratio of -7.61 and a beta of 1.68. Bassett Furniture Industries has a 1 year low of $12.10 and a 1 year high of $17.89.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings results on Wednesday, October 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.18). The firm had revenue of $75.62 million during the quarter, compared to the consensus estimate of $78.63 million. Bassett Furniture Industries had a negative net margin of 5.00% and a negative return on equity of 3.47%. During the same quarter last year, the firm earned ($0.30) earnings per share. Equities analysts anticipate that Bassett Furniture Industries will post -0.77 earnings per share for the current fiscal year.

Bassett Furniture Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.39%. Bassett Furniture Industries’s payout ratio is -41.03%.

Insider Activity

In related news, Director John R. Belk bought 3,847 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $12.70 per share, for a total transaction of $48,856.90. Following the transaction, the director now owns 41,047 shares in the company, valued at $521,296.90. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.10% of the company’s stock.

Institutional Trading of Bassett Furniture Industries

A hedge fund recently raised its stake in Bassett Furniture Industries stock. Inspire Advisors LLC increased its holdings in shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 8.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,872 shares of the company’s stock after buying an additional 880 shares during the quarter. Inspire Advisors LLC owned 0.13% of Bassett Furniture Industries worth $175,000 at the end of the most recent reporting period. 54.40% of the stock is currently owned by hedge funds and other institutional investors.

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.