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 morning.

Bassett Furniture Industries Stock Up 1.0 %

Shares of NASDAQ BSET opened at $14.00 on Friday. The stock has a market cap of $123.21 million, a PE ratio of -7.18, a price-to-earnings-growth ratio of 1.07 and a beta of 1.69. Bassett Furniture Industries has a 52-week low of $12.10 and a 52-week high of $16.85. The business has a 50-day moving average price of $14.54 and a 200 day moving average price of $14.03.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings data on Wednesday, October 9th. The company reported ($0.52) earnings per share (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 for the quarter, compared to analyst estimates of $78.63 million. During the same quarter last year, the business earned ($0.30) EPS. Sell-side analysts anticipate that Bassett Furniture Industries will post -0.77 earnings per share for the current year.

Bassett Furniture Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 5.71%. The ex-dividend date was Friday, November 15th. Bassett Furniture Industries’s dividend payout ratio is -41.03%.

Institutional Trading of Bassett Furniture Industries

Institutional investors have recently made changes to their positions in the stock. Inspire Advisors LLC lifted its position 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 buying an additional 14,183 shares during the last quarter. Empowered Funds LLC lifted 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 buying an additional 1,206 shares during the period. Finally, Barclays PLC grew its holdings in shares of Bassett Furniture Industries by 51.9% during the 3rd quarter. Barclays PLC now owns 10,124 shares of the company’s stock worth $146,000 after purchasing an additional 3,459 shares in the last quarter. 54.40% of the stock is currently owned by institutional investors and hedge funds.

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.