Bassett Furniture Industries (NASDAQ:BSET) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Bassett Furniture Industries (NASDAQ:BSET) from a buy rating to a hold rating in a research note published on Friday.

Bassett Furniture Industries Stock Up 1.0 %

Shares of NASDAQ:BSET opened at $14.00 on Friday. The company has a 50-day moving average price of $14.54 and a two-hundred day moving average price of $14.04. Bassett Furniture Industries has a twelve month low of $12.10 and a twelve month high of $16.85. The firm has a market capitalization of $123.21 million, a PE ratio of -7.18, a P/E/G ratio of 1.07 and a beta of 1.69.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings data on Wednesday, October 9th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.18). The business had revenue of $75.62 million during the quarter, compared to analysts’ expectations 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 in the prior year, the firm posted ($0.30) earnings per share. 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 was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.80 annualized dividend and a yield of 5.71%. Bassett Furniture Industries’s dividend payout ratio is currently -41.03%.

Institutional Investors Weigh In On Bassett Furniture Industries

A number of institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC grew its stake 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 acquiring an additional 3,459 shares in the last quarter. Empowered Funds LLC grew its position in shares of Bassett Furniture Industries by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 25,419 shares of the company’s stock valued at $367,000 after purchasing an additional 1,206 shares in the last quarter. Finally, Inspire Advisors LLC increased its holdings in shares of Bassett Furniture Industries by 119.5% in the second quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock worth $370,000 after purchasing an additional 14,183 shares during the period. 54.40% of the stock is 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.