Bassett Furniture Industries (NASDAQ:BSET) Downgraded to “Hold” Rating by StockNews.com

Bassett Furniture Industries (NASDAQ:BSET) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Bassett Furniture Industries Price Performance

Bassett Furniture Industries stock opened at $15.00 on Tuesday. The stock’s 50 day moving average price is $14.16 and its 200 day moving average price is $13.88. Bassett Furniture Industries has a 1-year low of $12.10 and a 1-year high of $17.89. The company has a market cap of $132 million, a PE ratio of -7.69 and a beta of 1.68.

Bassett Furniture Industries (NASDAQ:BSET) last issued its 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 company had revenue of $75.62 million for the quarter, compared to analysts’ expectations of $78.63 million. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. On average, equities research analysts anticipate that Bassett Furniture Industries will post -0.77 EPS for the current fiscal year.

Insider Transactions at Bassett Furniture Industries

In other news, Director John R. Belk purchased 3,847 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $12.70 per share, for a total transaction of $48,856.90. Following the acquisition, the director now directly owns 41,047 shares in the company, valued at approximately $521,296.90. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 5,324 shares of company stock valued at $67,651 in the last quarter. 7.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bassett Furniture Industries

An institutional investor recently raised its position in Bassett Furniture Industries stock. Inspire Advisors LLC boosted its holdings in shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 119.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,055 shares of the company’s stock after acquiring an additional 14,183 shares during the period. Inspire Advisors LLC owned about 0.30% of Bassett Furniture Industries worth $370,000 at the end of the most recent reporting period. 54.40% of the stock is owned by institutional investors.

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.