Bassett Furniture Industries (NASDAQ:BSET) Lowered to Buy at StockNews.com

Bassett Furniture Industries (NASDAQ:BSET – Get Rating) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Separately, TheStreet raised Bassett Furniture Industries from a “c+” rating to a “b” rating in a research note on Friday, September 30th.

Bassett Furniture Industries Trading Down 1.7 %

Shares of NASDAQ:BSET opened at $18.29 on Thursday. The company has a market cap of $167.46 million, a price-to-earnings ratio of 2.67, a PEG ratio of 0.69 and a beta of 1.53. Bassett Furniture Industries has a 12 month low of $13.16 and a 12 month high of $24.12. The company has a 50-day moving average price of $18.01 and a 200 day moving average price of $18.82.

Institutional Trading of Bassett Furniture Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Venture Visionary Partners LLC bought a new position in shares of Bassett Furniture Industries during the second quarter valued at approximately $54,000. Gladius Capital Management LP bought a new position in Bassett Furniture Industries in the 2nd quarter valued at $61,000. Royal Bank of Canada increased its stake in Bassett Furniture Industries by 6.7% in the third quarter. Royal Bank of Canada now owns 9,607 shares of the company’s stock worth $150,000 after purchasing an additional 607 shares during the period. Stokes Family Office LLC bought a new stake in shares of Bassett Furniture Industries during the third quarter worth $162,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Bassett Furniture Industries during the second quarter valued at $191,000. 57.01% of the stock is owned by hedge funds and other institutional investors.

Bassett Furniture Industries Company Profile

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Bassett Furniture Industries, Inc engages in manufacturing, marketing and retailing home furnishings. It operates through the following segments: Wholesale, Retail, and Logistical Services. The Wholesale segment focuses on the design, manufacture, sourcing, sale and distribution of furniture products.