Bassett Furniture Industries (NASDAQ:BSET) Upgraded at StockNews.com

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

Bassett Furniture Industries Stock Performance

Bassett Furniture Industries stock opened at $14.49 on Thursday. Bassett Furniture Industries has a 52 week low of $12.10 and a 52 week high of $16.92. The firm has a market capitalization of $127.51 million, a PE ratio of -7.43, a PEG ratio of 1.07 and a beta of 1.69. The business’s 50-day simple moving average is $14.57 and its 200-day simple moving average is $14.06.

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

Bassett Furniture Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date was Friday, November 15th. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently -41.03%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC raised its stake in shares of Bassett Furniture Industries by 5.0% in the third 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. Inspire Advisors LLC increased its holdings in Bassett Furniture Industries by 119.5% in the 2nd quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock valued at $370,000 after buying an additional 14,183 shares during the period. Finally, Barclays PLC raised its stake in shares of Bassett Furniture Industries by 51.9% in the 3rd quarter. Barclays PLC now owns 10,124 shares of the company’s stock valued at $146,000 after buying an additional 3,459 shares in the last quarter. Institutional investors own 54.40% of the company’s stock.

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.