Bassett Furniture Industries (NASDAQ:BSET) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other research firms have also commented on BSET. Stifel Nicolaus reaffirmed a “hold” rating and issued a $39.00 price target (up from $36.00) on shares of Bassett Furniture Industries in a report on Saturday, September 30th. BidaskClub lowered shares of Bassett Furniture Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Finally, Zacks Investment Research lowered shares of Bassett Furniture Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 29th.

Bassett Furniture Industries (NASDAQ:BSET) traded down $0.75 during trading hours on Friday, reaching $37.65. 35,376 shares of the company’s stock traded hands, compared to its average volume of 20,801. Bassett Furniture Industries has a one year low of $24.90 and a one year high of $41.30. The stock has a market capitalization of $404.17, a price-to-earnings ratio of 23.68 and a beta of 1.04.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Thursday, September 28th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. Bassett Furniture Industries had a net margin of 4.09% and a return on equity of 9.17%. The company had revenue of $114.30 million for the quarter, compared to analyst estimates of $110.65 million. During the same period in the prior year, the company earned $0.38 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. equities research analysts anticipate that Bassett Furniture Industries will post 1.76 EPS for the current fiscal year.

In other news, SVP Bruce Cohenour sold 9,900 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $38.50, for a total transaction of $381,150.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jay R. Hervey sold 650 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $39.19, for a total transaction of $25,473.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,550 shares of company stock worth $487,124. Corporate insiders own 6.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of BSET. Acrospire Investment Management LLC boosted its stake in shares of Bassett Furniture Industries by 57.5% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,108 shares of the company’s stock worth $118,000 after acquiring an additional 1,135 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Bassett Furniture Industries by 441.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,620 shares of the company’s stock worth $178,000 after purchasing an additional 3,767 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Bassett Furniture Industries during the 2nd quarter worth about $206,000. Bank of America Corp DE raised its position in shares of Bassett Furniture Industries by 183.8% during the 1st quarter. Bank of America Corp DE now owns 8,311 shares of the company’s stock worth $224,000 after purchasing an additional 5,383 shares during the last quarter. Finally, Alliancebernstein L.P. acquired a new position in shares of Bassett Furniture Industries during the 2nd quarter worth about $224,000. 71.73% of the stock is currently owned by institutional investors and hedge funds.

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About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.

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