Bassett Furniture Industries (NASDAQ:BSET) Share Price Crosses Below 200 Day Moving Average - Here's Why

Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Get Free Report) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.02 and traded as low as $13.66. Bassett Furniture Industries shares last traded at $13.86, with a volume of 9,793 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Bassett Furniture Industries from a "buy" rating to a "hold" rating in a research report on Friday, December 20th.

Bassett Furniture Industries Stock Up 0.6 %

The business has a 50-day simple moving average of $14.52 and a two-hundred day simple moving average of $14.02. The stock has a market capitalization of $121.98 million, a price-to-earnings ratio of -7.11, a P/E/G ratio of 1.07 and a beta of 1.69.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) last posted its quarterly earnings data on Wednesday, October 9th. The company reported ($0.52) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.18). The firm had revenue of $75.62 million during the quarter, compared to the consensus estimate 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 in the prior year, the firm posted ($0.30) EPS. On average, analysts forecast that Bassett Furniture Industries, Incorporated will post -0.77 EPS for the current year.

Bassett Furniture Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.80 annualized dividend and a dividend yield of 5.77%. Bassett Furniture Industries's dividend payout ratio (DPR) is -41.03%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Inspire Advisors LLC raised its holdings in Bassett Furniture Industries by 119.5% during the 2nd quarter. Inspire Advisors LLC now owns 26,055 shares of the company's stock worth $370,000 after buying an additional 14,183 shares during the period. Barclays PLC raised its holdings in shares of 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 acquiring an additional 3,459 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of Bassett Furniture Industries by 5.0% in the 3rd 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 in the last quarter. Institutional investors own 54.40% of the company's stock.

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.