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

Key Points

• Bassett Furniture shares crossed above their 200-day moving average, reaching $17.75 before last trading at $17.49, compared with a 200-day average of $16.62.
• Analyst sentiment is moderately positive: one analyst rates the stock a Strong Buy and two rate it Hold, producing an overall “Moderate Buy” consensus.
• The company reported quarterly EPS of $0.24, exceeding estimates by $0.04, and pays a $0.20 quarterly dividend equivalent to a 4.6% annual yield; however, its 125% payout ratio exceeds earnings.

Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $16.62 and traded as high as $17.75. Bassett Furniture Industries shares last traded at $17.49, with a volume of 17,671 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BSET. Wall Street Zen upgraded shares of Bassett Furniture Industries from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. Zacks Research downgraded Bassett Furniture Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 7th. Finally, Weiss Ratings upgraded Bassett Furniture Industries from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

Bassett Furniture Industries Stock Performance

The stock has a market capitalization of $151.46 million, a P/E ratio of 27.33, a PEG ratio of 1.23 and a beta of 0.77. The company's fifty day simple moving average is $19.39 and its two-hundred day simple moving average is $16.62.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last posted its earnings results on Wednesday, July 1st. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.04. The company had revenue of $83.75 million during the quarter, compared to the consensus estimate 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 firm earned $0.22 earnings per share. On average, research analysts predict that Bassett Furniture Industries, Incorporated will post 0.89 earnings per share for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Friday, August 14th. Bassett Furniture Industries's dividend payout ratio is currently 125.00%.

Institutional Trading of Bassett Furniture Industries

A number of hedge funds have recently added to or reduced their stakes in BSET. Integrated Wealth Concepts LLC bought a new stake in shares of Bassett Furniture Industries during the second quarter worth about $59,000. Aegis Financial Corp raised its holdings in Bassett Furniture Industries by 4.4% in the 2nd quarter. Aegis Financial Corp now owns 550,413 shares of the company's stock valued at $9,753,000 after buying an additional 23,416 shares during the last quarter. Empowered Funds LLC bought a new position in Bassett Furniture Industries in the 2nd quarter valued at approximately $746,000. Bank of America Corp DE acquired a new stake in Bassett Furniture Industries during the 2nd quarter worth approximately $246,000. Finally, Hsbc Holdings PLC acquired a new stake in Bassett Furniture Industries during the 2nd quarter worth approximately $485,000. Institutional investors and hedge funds own 54.40% of the company's stock.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated is a home furnishings company headquartered in Bassett, Virginia. Founded in 1902, the company built its heritage in wooden furniture and has expanded into a broader range of residential furnishings.

Bassett designs, manufactures, sources and sells products including upholstered furniture, bedroom and dining furniture, occasional tables, home office furnishings, mattresses, rugs, lighting and decorative accessories. Its offerings are marketed under the Bassett brand, with an emphasis on coordinated room collections, customization and design services.

The company serves consumers primarily in the United States through company-owned and licensed Bassett Home Furnishings stores, its website and other retail channels.

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