Bassett Furniture Industries (NASDAQ:BSET) Upgraded at StockNews.com

StockNews.com upgraded shares of Bassett Furniture Industries (NASDAQ:BSET) from a hold rating to a buy rating in a research report sent to investors on Monday.

Bassett Furniture Industries Stock Down 0.2 %

Shares of NASDAQ BSET opened at $14.08 on Monday. The business’s 50 day moving average price is $14.04 and its two-hundred day moving average price is $13.85. The company has a market cap of $124.31 million, a PE ratio of -8.20 and a beta of 1.69. Bassett Furniture Industries has a twelve month low of $12.10 and a twelve month high of $17.89.

Bassett Furniture Industries (NASDAQ:BSET) last posted its earnings results on Wednesday, October 9th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.18). Bassett Furniture Industries had a negative return on equity of 3.40% and a negative net margin of 5.00%. The business had revenue of $75.62 million for the quarter, compared to analyst estimates of $78.63 million. During the same period in the previous year, the firm posted ($0.30) earnings per share. As a group, research analysts anticipate that Bassett Furniture Industries will post -0.55 EPS for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.80 annualized dividend and a yield of 5.68%. Bassett Furniture Industries’s payout ratio is currently -46.24%.

Insider Activity at Bassett Furniture Industries

In other Bassett Furniture Industries news, Director John R. Belk purchased 3,847 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $12.70 per share, with a total value of $48,856.90. Following the completion of the transaction, the director now owns 41,047 shares in the company, valued at $521,296.90. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought 5,324 shares of company stock worth $67,651 in the last ninety days. 7.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bassett Furniture Industries

An institutional investor recently raised its position in Bassett Furniture Industries stock. Inspire Advisors LLC grew its holdings in shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 8.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,872 shares of the company’s stock after acquiring an additional 880 shares during the quarter. Inspire Advisors LLC owned 0.13% of Bassett Furniture Industries worth $175,000 at the end of the most recent quarter. Institutional investors and hedge funds own 54.40% of the company’s stock.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.