Bassett Furniture Industries (NASDAQ:BSET) Shares Pass Below 200-Day Moving Average – What’s Next?

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.17 and traded as low as $15.90. Bassett Furniture Industries shares last traded at $16.40, with a volume of 5,681 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BSET. Zacks Research upgraded Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Wall Street Zen upgraded Bassett Furniture Industries from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bassett Furniture Industries in a report on Wednesday, October 8th. Finally, Sidoti raised shares of Bassett Furniture Industries to a “strong-buy” rating in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Bassett Furniture Industries Trading Up 0.7%

The firm has a market cap of $143.56 million, a PE ratio of 18.36, a P/E/G ratio of 0.95 and a beta of 0.99. The stock’s 50 day moving average price is $15.93 and its 200 day moving average price is $16.19.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings data on Wednesday, October 8th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Bassett Furniture Industries had a net margin of 2.35% and a return on equity of 4.67%. The company had revenue of $80.10 million for the quarter, compared to analyst estimates of $79.89 million. During the same quarter last year, the firm posted ($0.52) earnings per share. Analysts forecast that Bassett Furniture Industries, Incorporated will post 0.75 earnings per share for the current year.

Bassett Furniture Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, November 14th. This represents a $0.80 annualized dividend and a yield of 4.8%. Bassett Furniture Industries’s dividend payout ratio is presently 88.89%.

Institutional Trading of Bassett Furniture Industries

A number of institutional investors and hedge funds have recently made changes to their positions in BSET. Atlantic Union Bankshares Corp acquired a new position in Bassett Furniture Industries during the 3rd quarter valued at about $29,000. Group One Trading LLC bought a new position in shares of Bassett Furniture Industries in the second quarter valued at approximately $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Bassett Furniture Industries in the second quarter valued at approximately $68,000. JPMorgan Chase & Co. acquired a new position in shares of Bassett Furniture Industries during the second quarter valued at approximately $83,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Bassett Furniture Industries during the second quarter valued at approximately $106,000. 54.40% of the stock is currently owned by institutional investors and hedge funds.

Bassett Furniture Industries Company 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.