Bassett Furniture Industries (NASDAQ:BSET) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other equities analysts have also recently commented on the stock. ValuEngine raised shares of Bassett Furniture Industries from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research cut shares of Bassett Furniture Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 29th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $39.00 target price (up from $36.00) on shares of Bassett Furniture Industries in a report on Saturday, September 30th.

Shares of Bassett Furniture Industries (NASDAQ:BSET) traded down $0.50 during trading on Friday, hitting $36.15. 32,903 shares of the stock were exchanged, compared to its average volume of 23,982. The firm has a market cap of $388.08, a PE ratio of 23.05 and a beta of 1.04. Bassett Furniture Industries has a fifty-two week low of $24.90 and a fifty-two week high of $41.30.

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

In related news, insider Jay R. Hervey sold 650 shares of Bassett Furniture Industries stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $39.19, for a total value of $25,473.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Bruce Cohenour sold 9,900 shares of Bassett Furniture Industries stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $38.50, for a total transaction of $381,150.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,550 shares of company stock worth $487,124. 6.40% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of BSET. Royce & Associates LP grew its position in Bassett Furniture Industries by 18.4% in the 2nd quarter. Royce & Associates LP now owns 1,238,752 shares of the company’s stock valued at $47,011,000 after buying an additional 192,682 shares during the last quarter. Algert Global LLC grew its position in Bassett Furniture Industries by 222.0% in the 3rd quarter. Algert Global LLC now owns 90,819 shares of the company’s stock valued at $3,424,000 after buying an additional 62,618 shares during the last quarter. EAM Investors LLC purchased a new position in Bassett Furniture Industries in the 3rd quarter valued at $1,653,000. Gamco Investors INC. ET AL grew its position in Bassett Furniture Industries by 6.8% in the 2nd quarter. Gamco Investors INC. ET AL now owns 590,781 shares of the company’s stock valued at $22,420,000 after buying an additional 37,816 shares during the last quarter. Finally, Cadence Capital Management LLC purchased a new stake in shares of Bassett Furniture Industries during the 2nd quarter worth $1,187,000. Hedge funds and other institutional investors own 71.67% of the company’s stock.

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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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