Bassett Furniture Industries (NASDAQ:BSET) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.99 and traded as high as $17.65. Bassett Furniture Industries shares last traded at $17.65, with a volume of 40,296 shares traded.

Analyst Ratings Changes

Separately, StockNews.com upgraded Bassett Furniture Industries from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

Bassett Furniture Industries Trading Down 0.2 %

The firm has a market capitalization of $153.28 million, a price-to-earnings ratio of -16.01, a price-to-earnings-growth ratio of 1.29 and a beta of 1.35. The company has a fifty day moving average price of $16.21 and a 200-day moving average price of $15.02.

Bassett Furniture Industries (NASDAQ:BSET) last posted its earnings results on Wednesday, April 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.19. Bassett Furniture Industries had a negative net margin of 2.94% and a negative return on equity of 2.44%. The firm had revenue of $82.16 million during the quarter, compared to analysts’ expectations of $79.71 million. During the same period in the previous year, the company earned ($0.14) earnings per share. As a group, sell-side analysts predict that Bassett Furniture Industries, Incorporated will post 0.75 EPS for the current fiscal year.

Bassett Furniture Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.54%. The ex-dividend date is Friday, May 16th. Bassett Furniture Industries’s payout ratio is -106.67%.

Institutional Trading of Bassett Furniture Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC grew its holdings in Bassett Furniture Industries by 51.9% during the third quarter. Barclays PLC now owns 10,124 shares of the company’s stock valued at $146,000 after purchasing an additional 3,459 shares during the last quarter. Jane Street Group LLC bought a new position in Bassett Furniture Industries in the 4th quarter worth $158,000. FourThought Financial Partners LLC acquired a new position in Bassett Furniture Industries during the 4th quarter worth $180,000. Empowered Funds LLC boosted its holdings in Bassett Furniture Industries by 4.5% during the fourth quarter. Empowered Funds LLC now owns 26,554 shares of the company’s stock valued at $367,000 after acquiring an additional 1,135 shares during the period. Finally, Aristides Capital LLC grew its position in shares of Bassett Furniture Industries by 16.0% in the fourth quarter. Aristides Capital LLC now owns 43,111 shares of the company’s stock valued at $596,000 after purchasing an additional 5,935 shares during the last quarter. Institutional investors and hedge funds own 54.40% of the company’s stock.

Bassett Furniture Industries Company Profile

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.