Bassett Furniture Industries (NASDAQ:BSET) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $16.04 and traded as high as $16.44. Bassett Furniture Industries shares last traded at $16.44, with a volume of 95,113 shares.

Wall Street Analysts Forecast Growth

BSET has been the topic of a number of recent research reports. Zacks Research cut shares of Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a report on Monday, December 1st. Wall Street Zen raised shares of Bassett Furniture Industries from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Sidoti raised shares of Bassett Furniture Industries to a “strong-buy” rating in a report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Bassett Furniture Industries in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Bassett Furniture Industries Stock Performance

The stock has a market capitalization of $142.86 million, a PE ratio of 18.27, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06. The business’s 50-day moving average is $15.24 and its two-hundred day moving average is $16.04.

Bassett Furniture Industries (NASDAQ:BSET) last released its earnings results on Wednesday, October 8th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $80.10 million during the quarter, compared to analysts’ expectations of $79.89 million. Bassett Furniture Industries had a net margin of 2.35% and a return on equity of 4.67%. During the same quarter last year, the business earned ($0.52) EPS. Equities analysts forecast that Bassett Furniture Industries, Incorporated will post 0.75 EPS for the current year.

Bassett Furniture Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a $0.20 dividend. The ex-dividend date was Friday, November 14th. This represents a $0.80 dividend on an annualized basis and a yield of 4.9%. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently 88.89%.

Hedge Funds Weigh In On Bassett Furniture Industries

A number of large investors have recently modified their holdings of BSET. Atlantic Union Bankshares Corp purchased a new stake in shares of Bassett Furniture Industries in the third quarter valued at approximately $29,000. Group One Trading LLC acquired a new stake in Bassett Furniture Industries in the second quarter valued at $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Bassett Furniture Industries in the second quarter valued at $68,000. JPMorgan Chase & Co. purchased a new stake in shares of Bassett Furniture Industries during the 2nd quarter worth $83,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Bassett Furniture Industries during the 2nd quarter worth $106,000. 54.40% of the stock is owned by hedge funds and other institutional investors.

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.