Bassett Furniture Industries (NASDAQ:BSET) Share Price Crosses Above 200-Day Moving Average of $18.42

Bassett Furniture Industries, Incorporated (NASDAQ:BSETGet Rating)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $18.42 and traded as high as $19.38. Bassett Furniture Industries shares last traded at $19.13, with a volume of 24,456 shares trading hands.

Analyst Ratings Changes

BSET has been the subject of a number of analyst reports. TheStreet raised Bassett Furniture Industries from a “c+” rating to a “b” rating in a research note on Friday, September 30th. StockNews.com downgraded Bassett Furniture Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

Bassett Furniture Industries Stock Down 0.5 %

The firm has a fifty day moving average price of $17.59 and a two-hundred day moving average price of $18.43. The stock has a market capitalization of $174.41 million, a P/E ratio of 2.78 and a beta of 1.54.

Bassett Furniture Industries (NASDAQ:BSETGet Rating) last issued its quarterly earnings results on Thursday, September 29th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.20. Bassett Furniture Industries had a return on equity of 13.92% and a net margin of 13.22%. The firm had revenue of $118.01 million during the quarter, compared to the consensus estimate of $119.65 million.

Bassett Furniture Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $0.64 annualized dividend and a dividend yield of 3.36%. Bassett Furniture Industries’s payout ratio is presently 9.34%.

Insider Activity at Bassett Furniture Industries

In other Bassett Furniture Industries news, Director William C. Warden, Jr. acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 12th. The shares were bought at an average cost of $17.97 per share, with a total value of $89,850.00. Following the completion of the transaction, the director now directly owns 53,393 shares of the company’s stock, valued at approximately $959,472.21. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bassett Furniture Industries

Several institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in shares of Bassett Furniture Industries by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 751,059 shares of the company’s stock valued at $12,438,000 after buying an additional 8,952 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in Bassett Furniture Industries by 1.1% in the first quarter. Gamco Investors INC. ET AL now owns 686,615 shares of the company’s stock worth $11,370,000 after purchasing an additional 7,298 shares during the last quarter. Renaissance Technologies LLC boosted its position in Bassett Furniture Industries by 2.4% in the first quarter. Renaissance Technologies LLC now owns 447,261 shares of the company’s stock worth $7,407,000 after purchasing an additional 10,400 shares during the last quarter. Victory Capital Management Inc. boosted its position in Bassett Furniture Industries by 6.0% in the second quarter. Victory Capital Management Inc. now owns 318,330 shares of the company’s stock worth $5,768,000 after purchasing an additional 18,029 shares during the last quarter. Finally, Gabelli Funds LLC boosted its position in Bassett Furniture Industries by 1.2% in the first quarter. Gabelli Funds LLC now owns 195,300 shares of the company’s stock worth $3,234,000 after purchasing an additional 2,400 shares during the last quarter. 58.27% of the stock is owned by hedge funds and other institutional investors.

About Bassett Furniture Industries

(Get Rating)

Bassett Furniture Industries, Incorporated engages in the manufacture, marketing, and retail of home furnishings in the United States and internationally. It operates through three segments: Wholesale, Retail -company-owned Stores, and Logistical Services. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned retail stores and licensee-owned stores, and independent furniture retailers; and wood and upholstery operations.

Further Reading

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