Bassett Furniture Industries (NASDAQ:BSET) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Bassett Furniture Industries (NASDAQ:BSET) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Bassett Furniture Industries Trading Up 1.0 %

NASDAQ BSET opened at $14.00 on Friday. The business has a fifty day simple moving average of $14.54 and a 200 day simple moving average of $14.04. Bassett Furniture Industries has a 12 month low of $12.10 and a 12 month high of $16.85. The firm has a market capitalization of $123.21 million, a P/E ratio of -7.18, a PEG ratio of 1.07 and a beta of 1.69.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings results on Wednesday, October 9th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.18). The firm had revenue of $75.62 million for the quarter, compared to the consensus estimate of $78.63 million. Bassett Furniture Industries had a negative net margin of 5.00% and a negative return on equity of 3.47%. During the same period in the previous year, the business earned ($0.30) earnings per share. As a group, sell-side analysts predict that Bassett Furniture Industries will post -0.77 EPS for the current fiscal year.

Bassett Furniture Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.80 dividend on an annualized basis and a yield of 5.71%. Bassett Furniture Industries’s dividend payout ratio (DPR) is currently -41.03%.

Institutional Investors Weigh In On Bassett Furniture Industries

Several large investors have recently made changes to their positions in BSET. Barclays PLC boosted its holdings in shares of Bassett Furniture Industries by 51.9% in the 3rd quarter. Barclays PLC now owns 10,124 shares of the company’s stock worth $146,000 after buying an additional 3,459 shares during the last quarter. Empowered Funds LLC boosted its stake in Bassett Furniture Industries by 5.0% in the third quarter. Empowered Funds LLC now owns 25,419 shares of the company’s stock valued at $367,000 after acquiring an additional 1,206 shares during the last quarter. Finally, Inspire Advisors LLC grew its position in shares of Bassett Furniture Industries by 119.5% during the 2nd quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock valued at $370,000 after acquiring an additional 14,183 shares during the period. 54.40% of the stock is owned by hedge funds and other institutional investors.

About Bassett Furniture Industries

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.