Bassett Furniture Industries (NASDAQ:BSET) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Bassett Furniture Industries (NASDAQ:BSET) from a hold rating to a buy rating in a research report sent to investors on Thursday.

Bassett Furniture Industries Trading Up 4.5 %

Shares of NASDAQ:BSET opened at $14.25 on Thursday. The stock has a fifty day moving average of $14.57 and a 200-day moving average of $14.06. Bassett Furniture Industries has a one year low of $12.10 and a one year high of $16.92.

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

Bassett Furniture Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.61%. The ex-dividend date of this dividend was Friday, November 15th. Bassett Furniture Industries’s dividend payout ratio (DPR) is currently -41.03%.

Hedge Funds Weigh In On Bassett Furniture Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Inspire Advisors LLC grew its holdings 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 in the last quarter. Empowered Funds LLC raised its holdings in shares of Bassett Furniture Industries by 5.0% during the third quarter. Empowered Funds LLC now owns 25,419 shares of the company’s stock worth $367,000 after acquiring an additional 1,206 shares in the last quarter. Finally, Barclays PLC boosted its position in Bassett Furniture Industries by 51.9% during the third quarter. Barclays PLC now owns 10,124 shares of the company’s stock valued at $146,000 after purchasing an additional 3,459 shares during the last quarter. Institutional investors and hedge funds own 54.40% of the company’s stock.

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.