Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Friday.
Bassett Furniture Industries Price Performance
Shares of NASDAQ BSET traded up $0.14 during mid-day trading on Friday, reaching $14.00. 12,334 shares of the company traded hands, compared to its average volume of 17,510. Bassett Furniture Industries has a fifty-two week low of $12.10 and a fifty-two week high of $16.85. The firm has a market cap of $123.21 million, a PE ratio of -7.18, a price-to-earnings-growth ratio of 1.07 and a beta of 1.69. The stock has a fifty day simple moving average of $14.54 and a 200-day simple moving average of $14.05.
Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last issued its quarterly earnings results on Wednesday, October 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.18). The firm had revenue of $75.62 million for the quarter, compared to analyst estimates 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 quarter last year, the business posted ($0.30) earnings per share. As a group, analysts predict that Bassett Furniture Industries will post -0.77 EPS for the current fiscal year.
Hedge Funds Weigh In On Bassett Furniture Industries
Hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its holdings in shares of Bassett Furniture Industries by 51.9% in the third 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 period. Empowered Funds LLC grew its position in Bassett Furniture Industries by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 25,419 shares of the company's stock worth $367,000 after purchasing an additional 1,206 shares in the last quarter. Finally, Inspire Advisors LLC raised its stake in 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 purchasing an additional 14,183 shares during the period. 54.40% of the stock is currently owned by institutional investors and hedge funds.
About Bassett Furniture Industries
(
Get Free Report)
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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