Bassett Furniture Industries (NASDAQ:BSET) Stock Crosses Above 200-Day Moving Average - Here's Why

Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $14.99 and traded as high as $17.65. Bassett Furniture Industries shares last traded at $17.65, with a volume of 40,296 shares traded.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Bassett Furniture Industries from a "hold" rating to a "buy" rating in a report on Friday, January 31st.

Bassett Furniture Industries Stock Performance

The stock's fifty day simple moving average is $16.36 and its two-hundred day simple moving average is $15.10. The company has a market cap of $151.88 million, a price-to-earnings ratio of -15.86, a price-to-earnings-growth ratio of 1.29 and a beta of 1.26.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last posted its quarterly earnings results on Wednesday, April 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.19. The firm had revenue of $82.16 million during the quarter, compared to the consensus estimate of $79.71 million. Bassett Furniture Industries had a negative return on equity of 2.44% and a negative net margin of 2.94%. During the same quarter in the previous year, the business earned ($0.14) earnings per share. Analysts predict that Bassett Furniture Industries, Incorporated will post 0.75 EPS for the current fiscal year.

Bassett Furniture Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, May 16th. This represents a $0.80 annualized dividend and a yield of 4.58%. Bassett Furniture Industries's dividend payout ratio is currently -106.67%.

Hedge Funds Weigh In On Bassett Furniture Industries

A number of hedge funds have recently made changes to their positions in the business. Barclays PLC increased its holdings in 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 purchasing an additional 3,459 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Bassett Furniture Industries in the fourth quarter valued at about $158,000. FourThought Financial Partners LLC purchased a new stake in shares of Bassett Furniture Industries during the 4th quarter valued at about $180,000. Empowered Funds LLC lifted its position in Bassett Furniture Industries by 4.5% during the 4th quarter. Empowered Funds LLC now owns 26,554 shares of the company's stock worth $367,000 after acquiring an additional 1,135 shares in the last quarter. Finally, Aristides Capital LLC boosted its holdings in Bassett Furniture Industries by 16.0% in the 4th quarter. Aristides Capital LLC now owns 43,111 shares of the company's stock worth $596,000 after acquiring an additional 5,935 shares during the period. Hedge funds and other 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.