Bassett Furniture Industries (NASDAQ:BSET) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Bassett Furniture Industries (NASDAQ:BSET) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

Bassett Furniture Industries Price Performance

BSET opened at $14.39 on Monday. The company has a market capitalization of $127.05 million, a PE ratio of -8.32 and a beta of 1.69. Bassett Furniture Industries has a fifty-two week low of $12.10 and a fifty-two week high of $17.89. The business has a 50-day moving average of $14.09 and a 200-day moving average of $13.85.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings data on Wednesday, October 9th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.18). The business had revenue of $75.62 million for 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 3.40%. During the same period in the previous year, the business posted ($0.30) EPS. On average, equities research analysts expect that Bassett Furniture Industries will post -0.55 earnings per share for the current fiscal year.

Bassett Furniture Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.56%. The ex-dividend date of this dividend is Friday, November 15th. Bassett Furniture Industries’s dividend payout ratio is presently -46.24%.

Insider Buying and Selling at Bassett Furniture Industries

In related news, Director John R. Belk purchased 3,847 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $12.70 per share, for a total transaction of $48,856.90. Following the purchase, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 5,324 shares of company stock worth $67,651 over the last three months. 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 boosted its position in shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 119.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,055 shares of the company’s stock after acquiring an additional 14,183 shares during the period. Inspire Advisors LLC owned 0.30% of Bassett Furniture Industries worth $370,000 at the end of the most recent quarter. 54.40% of the stock is currently owned by 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.