Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.00 and traded as high as $20.77. Bassett Furniture Industries shares last traded at $20.35, with a volume of 14,239 shares changing hands.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on BSET shares. Zacks Research raised shares of Bassett Furniture Industries from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 7th. Weiss Ratings upgraded shares of Bassett Furniture Industries from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, July 14th. Finally, Wall Street Zen upgraded Bassett Furniture Industries from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy".
Get Our Latest Stock Report on BSET
Bassett Furniture Industries Stock Performance
The company has a 50-day moving average of $18.21 and a 200-day moving average of $16.00. The stock has a market capitalization of $176.23 million, a price-to-earnings ratio of 31.80, a P/E/G ratio of 1.42 and a beta of 0.76.
Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.04. The business had revenue of $83.75 million for the quarter, compared to analyst estimates of $83.32 million. Bassett Furniture Industries had a return on equity of 3.56% and a net margin of 1.65%.During the same quarter last year, the company earned $0.22 earnings per share. As a group, analysts expect that Bassett Furniture Industries, Incorporated will post 0.89 earnings per share for the current year.
Bassett Furniture Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.20 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.9%. Bassett Furniture Industries's payout ratio is currently 125.00%.
Institutional Trading of Bassett Furniture Industries
A number of institutional investors and hedge funds have recently made changes to their positions in BSET. Russell Investments Group Ltd. increased its stake in Bassett Furniture Industries by 95.3% during the fourth quarter. Russell Investments Group Ltd. now owns 1,504 shares of the company's stock valued at $25,000 after acquiring an additional 734 shares during the period. Group One Trading LLC acquired a new stake in shares of Bassett Furniture Industries during the 2nd quarter worth approximately $30,000. Empowered Funds LLC grew its holdings in shares of Bassett Furniture Industries by 7.9% during the 1st quarter. Empowered Funds LLC now owns 28,643 shares of the company's stock worth $437,000 after purchasing an additional 2,089 shares in the last quarter. Motiv8 Investments LLC bought a new stake in shares of Bassett Furniture Industries during the fourth quarter valued at approximately $42,000. Finally, Nalls Sherbakoff Group LLC bought a new stake in shares of Bassett Furniture Industries during the fourth quarter valued at approximately $46,000. 54.40% of the stock is currently owned by institutional investors and hedge funds.
Bassett Furniture Industries Company Profile
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Bassett Furniture Industries, Inc NASDAQ: BSET, headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.
Bassett's products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.
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