StockNews.com Downgrades Bassett Furniture Industries (NASDAQ:BSET) to Hold

StockNews.com cut shares of Bassett Furniture Industries (NASDAQ:BSET - Free Report) from a buy rating to a hold rating in a report published on Tuesday morning.

Bassett Furniture Industries Price Performance

NASDAQ BSET traded down $0.16 on Tuesday, hitting $14.84. 11,549 shares of the stock were exchanged, compared to its average volume of 18,142. The company has a market capitalization of $130.61 million, a PE ratio of -7.61 and a beta of 1.68. Bassett Furniture Industries has a 52 week low of $12.10 and a 52 week high of $17.89. The business's fifty day moving average is $14.19 and its 200 day moving average is $13.89.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) 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). Bassett Furniture Industries had a negative return on equity of 3.47% and a negative net margin of 5.00%. The business had revenue of $75.62 million for the quarter, compared to analyst estimates of $78.63 million. During the same quarter in the previous year, the company earned ($0.30) EPS. 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 announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.80 annualized dividend and a yield of 5.39%. Bassett Furniture Industries's dividend payout ratio is presently -41.03%.

Insider Buying and Selling

In other Bassett Furniture Industries news, Director John R. Belk acquired 3,847 shares of the stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $12.70 per share, with a total value of $48,856.90. Following the transaction, the director now owns 41,047 shares in the company, valued at approximately $521,296.90. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have purchased a total of 5,324 shares of company stock valued at $67,651 over the last ninety days. 7.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bassett Furniture Industries

A hedge fund recently raised its stake in Bassett Furniture Industries stock. Empowered Funds LLC grew its position in Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,593 shares of the company's stock after purchasing an additional 1,575 shares during the period. Empowered Funds LLC owned about 0.26% of Bassett Furniture Industries worth $333,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.