Bassett Furniture Industries (NASDAQ:BSET) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.26 and traded as high as $16.73. Bassett Furniture Industries shares last traded at $15.84, with a volume of 9,207 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BSET. Zacks Research upgraded Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Wall Street Zen upgraded shares of Bassett Furniture Industries from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bassett Furniture Industries in a research report on Wednesday. Finally, Sidoti upgraded shares of Bassett Furniture Industries to a “strong-buy” rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Bassett Furniture Industries Stock Performance

The firm has a market capitalization of $137.65 million, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 0.94 and a beta of 0.99. The business has a fifty day moving average of $16.31 and a two-hundred day moving average of $16.26.

Bassett Furniture Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.80 annualized dividend and a dividend yield of 5.1%. Bassett Furniture Industries’s payout ratio is presently 88.89%.

Institutional Investors Weigh In On Bassett Furniture Industries

Several hedge funds have recently bought and sold shares of the stock. Atlantic Union Bankshares Corp bought a new stake in Bassett Furniture Industries in the 3rd quarter valued at about $29,000. Group One Trading LLC acquired a new stake in shares of Bassett Furniture Industries in the second quarter valued at approximately $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Bassett Furniture Industries in the second quarter valued at approximately $68,000. JPMorgan Chase & Co. acquired a new stake in Bassett Furniture Industries during the second quarter worth approximately $83,000. Finally, New York State Common Retirement Fund bought a new position in Bassett Furniture Industries during the 2nd quarter worth $106,000. 54.40% of the stock is currently owned by institutional investors and hedge funds.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Inc (NASDAQ: BSET), headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett’s products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.