Bassett Furniture Industries (BSET) Reaches New 52-Week High and Low at $27.25

Bassett Furniture Industries Inc. (NASDAQ:BSET) hit a new 52-week high and low on Thursday . The company traded as low as $27.25 and last traded at $27.35, with a volume of 300 shares. The stock had previously closed at $27.65.

A number of equities research analysts have recently weighed in on the company. BidaskClub upgraded Bassett Furniture Industries from a “strong sell” rating to a “sell” rating in a research note on Saturday, February 17th. Zacks Investment Research upgraded Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Stifel Nicolaus dropped their price target on Bassett Furniture Industries from $37.00 to $33.00 and set a “hold” rating on the stock in a research note on Thursday, March 29th. TheStreet lowered Bassett Furniture Industries from a “b” rating to a “c+” rating in a research note on Friday, April 13th. Finally, ValuEngine lowered Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research note on Friday, May 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $39.00.

The stock has a market cap of $304.91 million, a P/E ratio of 17.09 and a beta of 0.90.



Bassett Furniture Industries (NASDAQ:BSET) last issued its earnings results on Wednesday, March 28th. The company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.19). The firm had revenue of $110.27 million during the quarter, compared to analysts’ expectations of $111.75 million. Bassett Furniture Industries had a net margin of 3.17% and a return on equity of 8.10%. equities analysts forecast that Bassett Furniture Industries Inc. will post 1.41 earnings per share for the current year.

In related news, SVP John E. Bassett III sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, April 12th. The stock was sold at an average price of $29.50, for a total value of $44,250.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Mark S. Jordan sold 3,400 shares of the company’s stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $30.06, for a total value of $102,204.00. Following the completion of the sale, the senior vice president now owns 14,810 shares in the company, valued at approximately $445,188.60. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Gamco Investors INC. ET AL lifted its holdings in Bassett Furniture Industries by 24.4% in the first quarter. Gamco Investors INC. ET AL now owns 711,486 shares of the company’s stock valued at $21,594,000 after acquiring an additional 139,547 shares during the period. Millennium Management LLC lifted its holdings in Bassett Furniture Industries by 241.0% in the fourth quarter. Millennium Management LLC now owns 108,306 shares of the company’s stock valued at $4,072,000 after acquiring an additional 76,542 shares during the period. Teton Advisors Inc. lifted its holdings in Bassett Furniture Industries by 24.8% in the first quarter. Teton Advisors Inc. now owns 229,034 shares of the company’s stock valued at $6,951,000 after acquiring an additional 45,534 shares during the period. Renaissance Technologies LLC lifted its holdings in Bassett Furniture Industries by 8.0% in the fourth quarter. Renaissance Technologies LLC now owns 559,800 shares of the company’s stock valued at $21,048,000 after acquiring an additional 41,700 shares during the period. Finally, Royce & Associates LP lifted its holdings in Bassett Furniture Industries by 3.2% in the fourth quarter. Royce & Associates LP now owns 1,287,727 shares of the company’s stock valued at $48,419,000 after acquiring an additional 39,680 shares during the period. Hedge funds and other institutional investors own 76.58% of the company’s stock.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States. The company operates in three segments: Wholesale, Retail, and Logistical Services. It is involved in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings (BHF) retail stores, as well as independent furniture retailers; and wood and upholstery operations.

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