Bassett Furniture Industries (NASDAQ:BSET) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Bassett Furniture Industries, Incorporated (NASDAQ:BSET)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.97 and traded as low as $14.46. Bassett Furniture Industries shares last traded at $14.50, with a volume of 40,812 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BSET shares. Zacks Research downgraded shares of Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a research note on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bassett Furniture Industries in a report on Wednesday, January 21st. Finally, Wall Street Zen downgraded Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Bassett Furniture Industries Trading Down 3.0%

The firm’s 50 day moving average price is $16.32 and its two-hundred day moving average price is $15.97. The company has a market capitalization of $125.43 million, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 0.93 and a beta of 0.99.

Bassett Furniture Industries (NASDAQ:BSET) last issued its earnings results on Wednesday, February 4th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.07). Bassett Furniture Industries had a net margin of 1.82% and a return on equity of 3.91%. The firm had revenue of $88.67 million during the quarter, compared to analyst estimates of $86.90 million. As a group, equities research analysts predict that Bassett Furniture Industries, Incorporated will post 0.75 EPS for the current year.

Bassett Furniture Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Friday, February 13th. Bassett Furniture Industries’s payout ratio is currently 114.29%.

Institutional Investors Weigh In On Bassett Furniture Industries

Several hedge funds have recently added to or reduced their stakes in BSET. Russell Investments Group Ltd. boosted its position in Bassett Furniture Industries by 95.3% during the fourth quarter. Russell Investments Group Ltd. now owns 1,504 shares of the company’s stock worth $25,000 after purchasing an additional 734 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in shares of Bassett Furniture Industries during the 3rd quarter worth about $29,000. Group One Trading LLC bought a new stake in shares of Bassett Furniture Industries during the 2nd quarter worth about $30,000. Motiv8 Investments LLC acquired a new position in Bassett Furniture Industries in the 4th quarter valued at about $42,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Bassett Furniture Industries in the 2nd quarter valued at about $68,000. Institutional investors and hedge funds own 54.40% of the company’s stock.

About Bassett Furniture Industries

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.