Bassett Furniture Industries (NASDAQ:BSET) Shares Cross Above 200 Day Moving Average - Should You Sell?

Shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.08 and traded as high as $17.45. Bassett Furniture Industries shares last traded at $16.91, with a volume of 34,412 shares.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Bassett Furniture Industries from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 12th.

Bassett Furniture Industries Stock Down 1.6%

The stock has a market cap of $135.30 million, a price-to-earnings ratio of 53.69, a PEG ratio of 1.20 and a beta of 1.15. The stock has a fifty day moving average of $16.59 and a two-hundred day moving average of $16.10.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last released its quarterly earnings data on Wednesday, July 9th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.15 by $0.07. Bassett Furniture Industries had a return on equity of 1.48% and a net margin of 0.76%. The company had revenue of $84,348 billion for the quarter, compared to analyst estimates of $82.03 million. During the same period last year, the company posted ($0.19) earnings per share. Equities research analysts anticipate that Bassett Furniture Industries, Incorporated will post 0.75 EPS for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, August 15th. Bassett Furniture Industries's payout ratio is presently 275.86%.

Insiders Place Their Bets

In other Bassett Furniture Industries news, SVP John E. Bassett III sold 2,000 shares of Bassett Furniture Industries stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.56, for a total value of $37,120.00. Following the completion of the transaction, the senior vice president directly owned 50,761 shares in the company, valued at $942,124.16. The trade was a 3.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 7.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bassett Furniture Industries

Several hedge funds and other institutional investors have recently made changes to their positions in BSET. Jane Street Group LLC acquired a new stake in Bassett Furniture Industries during the 4th quarter valued at $158,000. Ritholtz Wealth Management acquired a new position in shares of Bassett Furniture Industries in the second quarter worth $235,000. Goldman Sachs Group Inc. increased its stake in shares of Bassett Furniture Industries by 97.4% in the first quarter. Goldman Sachs Group Inc. now owns 24,840 shares of the company's stock worth $379,000 after acquiring an additional 12,258 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Bassett Furniture Industries by 7.9% in the first quarter. Empowered Funds LLC now owns 28,643 shares of the company's stock worth $437,000 after acquiring an additional 2,089 shares during the last quarter. Finally, Aristides Capital LLC increased its stake in shares of Bassett Furniture Industries by 16.0% in the fourth 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 last quarter. 54.40% of the stock is currently owned by institutional investors and hedge funds.

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.