Bassett Furniture Industries (NASDAQ:BSET) Stock Crosses Below 200 Day Moving Average – What’s Next?

Bassett Furniture Industries, Incorporated (NASDAQ:BSET)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.27 and traded as low as $14.22. Bassett Furniture Industries shares last traded at $14.56, with a volume of 29,901 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wall Street Zen downgraded Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research report on Sunday, May 31st. Weiss Ratings restated a “hold (c)” rating on shares of Bassett Furniture Industries in a research report on Monday, April 20th. 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 stock. According to data from MarketBeat, Bassett Furniture Industries currently has a consensus rating of “Hold”.

Bassett Furniture Industries Stock Up 2.4%

The stock has a market capitalization of $125.94 million, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 1.08 and a beta of 0.77. The company has a 50 day moving average of $14.42 and a 200 day moving average of $15.27.

Bassett Furniture Industries (NASDAQ:BSET) last released its earnings results on Wednesday, April 1st. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). The business had revenue of $80.34 million during the quarter, compared to analyst estimates of $84.38 million. Bassett Furniture Industries had a net margin of 1.61% and a return on equity of 3.48%. On average, research analysts forecast that Bassett Furniture Industries, Incorporated will post 0.82 earnings per share for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.5%. The ex-dividend date was Friday, May 15th. Bassett Furniture Industries’s dividend payout ratio is presently 129.03%.

Hedge Funds Weigh In On Bassett Furniture Industries

Several institutional investors have recently added to or reduced their stakes in BSET. Russell Investments Group Ltd. increased its stake 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 acquiring an additional 734 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Bassett Furniture Industries during the third quarter worth about $29,000. Group One Trading LLC acquired a new stake in Bassett Furniture Industries during the second quarter worth about $30,000. Motiv8 Investments LLC acquired a new stake in Bassett Furniture Industries during the fourth quarter worth about $42,000. Finally, Nalls Sherbakoff Group LLC acquired a new stake in Bassett Furniture Industries during the fourth quarter worth about $46,000. 54.40% of the stock is currently owned by institutional investors and hedge funds.

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.