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

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

Bassett Furniture Industries Price Performance

Shares of NASDAQ:BSET opened at $15.20 on Tuesday. The firm has a market cap of $133.76 million, a P/E ratio of -7.79 and a beta of 1.68. Bassett Furniture Industries has a 12-month low of $12.10 and a 12-month high of $17.89. The business has a fifty day simple moving average of $14.27 and a 200 day simple moving average of $13.92.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings data on Wednesday, October 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.18). The company had revenue of $75.62 million for the quarter, compared to the consensus estimate of $78.63 million. Bassett Furniture Industries had a negative return on equity of 3.47% and a negative net margin of 5.00%. During the same quarter last year, the business earned ($0.30) earnings per share. As a group, equities research analysts expect that Bassett Furniture Industries will post -0.77 EPS for the current year.

Bassett Furniture Industries Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, November 15th. This represents a $0.80 annualized dividend and a yield of 5.26%. Bassett Furniture Industries’s payout ratio is -41.03%.

Insider Buying and Selling at Bassett Furniture Industries

In other Bassett Furniture Industries news, Director John R. Belk acquired 3,847 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $12.70 per share, with a total value of $48,856.90. Following the purchase, the director now directly owns 41,047 shares of the company’s stock, valued at $521,296.90. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.10% of the company’s stock.

Institutional Trading of Bassett Furniture Industries

An institutional investor recently raised its position in Bassett Furniture Industries stock. Inspire Advisors LLC grew its stake in shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 8.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,872 shares of the company’s stock after purchasing an additional 880 shares during the period. Inspire Advisors LLC owned approximately 0.13% of Bassett Furniture Industries worth $175,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors 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.