Bassett Furniture Industries (NASDAQ:BSET) Stock Price Crosses Above 200 Day Moving Average of $18.42

Bassett Furniture Industries, Incorporated (NASDAQ:BSETGet Rating) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $18.42 and traded as high as $19.38. Bassett Furniture Industries shares last traded at $19.13, with a volume of 24,456 shares trading hands.

Analysts Set New Price Targets

Several research firms have commented on BSET. TheStreet upgraded Bassett Furniture Industries from a “c+” rating to a “b” rating in a report on Friday, September 30th. StockNews.com raised Bassett Furniture Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 11th.

Bassett Furniture Industries Trading Down 0.3 %

The firm has a market capitalization of $175.15 million, a price-to-earnings ratio of 2.79 and a beta of 1.54. The firm has a 50 day moving average price of $17.56 and a two-hundred day moving average price of $18.42.

Bassett Furniture Industries (NASDAQ:BSETGet Rating) last released its quarterly earnings data on Thursday, September 29th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.20. The business had revenue of $118.01 million for the quarter, compared to analyst estimates of $119.65 million. Bassett Furniture Industries had a return on equity of 13.92% and a net margin of 13.22%.

Bassett Furniture Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 11th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.35%. The ex-dividend date is Wednesday, November 9th. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently 9.34%.

Insider Buying and Selling

In related news, Director William C. Warden, Jr. purchased 5,000 shares of Bassett Furniture Industries stock in a transaction that occurred on Wednesday, October 12th. The shares were purchased at an average cost of $17.97 per share, with a total value of $89,850.00. Following the transaction, the director now owns 53,393 shares of the company’s stock, valued at approximately $959,472.21. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bassett Furniture Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Venture Visionary Partners LLC purchased a new stake in Bassett Furniture Industries during the 2nd quarter worth approximately $54,000. Gladius Capital Management LP bought a new stake in shares of Bassett Furniture Industries in the 2nd quarter valued at approximately $61,000. Royal Bank of Canada increased its holdings in shares of Bassett Furniture Industries by 6.7% in the 3rd quarter. Royal Bank of Canada now owns 9,607 shares of the company’s stock valued at $150,000 after acquiring an additional 607 shares during the last quarter. Stokes Family Office LLC bought a new stake in shares of Bassett Furniture Industries in the 3rd quarter valued at approximately $162,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Bassett Furniture Industries in the 2nd quarter valued at approximately $191,000. 58.27% of the stock is currently owned by hedge funds and other institutional investors.

About Bassett Furniture Industries

(Get Rating)

Bassett Furniture Industries, Incorporated engages in the manufacture, marketing, and retail of home furnishings in the United States and internationally. It operates through three segments: Wholesale, Retail -company-owned Stores, and Logistical Services. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned retail stores and licensee-owned stores, and independent furniture retailers; and wood and upholstery operations.

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