Bassett Furniture Industries (NASDAQ:BSET) Stock Price Crosses Below 200 Day Moving Average - Time to Sell?

Key Points

• Bassett Furniture Industries' stock price fell below its 200-day moving average for the first time, trading as low as $15.38.
• Analysts have recently downgraded the stock, now holding a consensus rating of "Hold", with Zacks Research changing its rating from "strong-buy" to "hold."
• The company announced a quarterly dividend of $0.20 per share, resulting in an annualized yield of 5.1% and a high dividend payout ratio of 88.89%.

Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.55 and traded as low as $15.38. Bassett Furniture Industries shares last traded at $15.55, with a volume of 49,647 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BSET. Zacks Research downgraded shares of Bassett Furniture Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 29th. Wall Street Zen downgraded shares of Bassett Furniture Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Bassett Furniture Industries in a research report on Wednesday. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold".

Bassett Furniture Industries Price Performance

The company has a market cap of $135.13 million, a P/E ratio of 17.28, a P/E/G ratio of 1.18 and a beta of 1.01. The stock's 50-day moving average is $16.25 and its two-hundred day moving average is $16.55.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last announced its earnings results on Wednesday, October 8th. The company reported $0.09 EPS for the quarter, meeting analysts' consensus estimates of $0.09. Bassett Furniture Industries had a net margin of 2.35% and a return on equity of 4.66%. The business had revenue of $80.10 million during the quarter, compared to analysts' expectations of $79.89 million. During the same period in the prior year, the company earned ($0.52) earnings per share. On average, analysts predict that Bassett Furniture Industries, Incorporated will post 0.75 EPS for the current year.

Bassett Furniture Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Friday, August 15th. Bassett Furniture Industries's dividend payout ratio is currently 88.89%.

Insider Buying and Selling

In other Bassett Furniture Industries news, SVP John E. Bassett III sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.56, for a total transaction of $37,120.00. Following the completion of the sale, the senior vice president directly owned 50,761 shares of the company's stock, valued at approximately $942,124.16. This represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.30% of the company's stock.

Institutional Trading of Bassett Furniture Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gradient Investments LLC purchased a new stake in Bassett Furniture Industries during the third quarter valued at approximately $160,000. Group One Trading LLC purchased a new stake in shares of Bassett Furniture Industries in the second quarter worth $30,000. Bridgeway Capital Management LLC increased its stake in shares of Bassett Furniture Industries by 12.4% in the second quarter. Bridgeway Capital Management LLC now owns 79,434 shares of the company's stock worth $1,207,000 after purchasing an additional 8,747 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Bassett Furniture Industries by 42.4% in the second quarter. Bank of America Corp DE now owns 19,398 shares of the company's stock worth $295,000 after purchasing an additional 5,776 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Bassett Furniture Industries in the second quarter worth $68,000. 54.40% of the stock is owned by hedge funds and other 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.

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