Bassett Furniture Industries (NASDAQ:BSET) Upgraded at StockNews.com

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Monday.

Bassett Furniture Industries Price Performance

NASDAQ BSET traded down $0.15 on Monday, hitting $13.80. 11,935 shares of the stock were exchanged, compared to its average volume of 18,342. The company's 50-day moving average price is $13.99 and its two-hundred day moving average price is $13.85. Bassett Furniture Industries has a 52-week low of $12.10 and a 52-week high of $17.89. The company has a market capitalization of $121.84 million, a price-to-earnings ratio of -7.98 and a beta of 1.69.

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 for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.18). The business had revenue of $75.62 million for the quarter, compared to analysts' expectations of $78.63 million. Bassett Furniture Industries had a negative net margin of 5.00% and a negative return on equity of 3.40%. During the same quarter in the prior year, the firm posted ($0.30) EPS. Equities analysts predict that Bassett Furniture Industries will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling at Bassett Furniture Industries

In other news, Director John R. Belk acquired 3,847 shares of Bassett Furniture Industries stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $12.70 per share, with a total value of $48,856.90. Following the completion of the transaction, the director now owns 41,047 shares in the company, valued at approximately $521,296.90. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders purchased 5,324 shares of company stock valued at $67,651 in the last quarter. Company insiders own 7.10% of the company's stock.

Institutional Trading of Bassett Furniture Industries

An institutional investor recently raised its position in Bassett Furniture Industries stock. Inspire Advisors LLC raised its stake in shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,872 shares of the company's stock after purchasing an additional 880 shares during the period. Inspire Advisors LLC owned 0.13% of Bassett Furniture Industries worth $175,000 as of its most recent SEC filing. 54.40% of the stock is owned by institutional investors.

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.

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