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

StockNews.com cut shares of Bassett Furniture Industries (NASDAQ:BSET) from a buy rating to a hold rating in a research report released on Saturday morning.

Bassett Furniture Industries Trading Down 0.5 %

Shares of BSET stock opened at $13.85 on Friday. The firm has a fifty day simple moving average of $15.19 and a 200-day simple moving average of $15.56. The company has a market capitalization of $122.30 million, a PE ratio of -20.67, a price-to-earnings-growth ratio of 2.86 and a beta of 1.71. Bassett Furniture Industries has a twelve month low of $13.30 and a twelve month high of $17.89.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings data on Thursday, January 25th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.21. The firm had revenue of $94.70 million for the quarter, compared to analyst estimates of $90.61 million. Bassett Furniture Industries had a negative net margin of 1.57% and a negative return on equity of 0.64%. Equities research analysts predict that Bassett Furniture Industries will post 0.31 EPS for the current year.

Bassett Furniture Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.72 dividend on an annualized basis and a yield of 5.20%. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently -107.46%.

Institutional Trading of Bassett Furniture Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in BSET. Dimensional Fund Advisors LP boosted its stake in Bassett Furniture Industries by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 751,059 shares of the company’s stock valued at $12,438,000 after acquiring an additional 8,952 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in Bassett Furniture Industries by 1.1% in the first quarter. Gamco Investors INC. ET AL now owns 686,615 shares of the company’s stock worth $11,370,000 after purchasing an additional 7,298 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Bassett Furniture Industries by 2.4% in the first quarter. Renaissance Technologies LLC now owns 447,261 shares of the company’s stock valued at $7,407,000 after buying an additional 10,400 shares during the last quarter. Gabelli Funds LLC raised its stake in Bassett Furniture Industries by 1.2% during the first quarter. Gabelli Funds LLC now owns 195,300 shares of the company’s stock valued at $3,234,000 after buying an additional 2,400 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Bassett Furniture Industries by 1.4% during the 2nd quarter. BlackRock Inc. now owns 187,298 shares of the company’s stock worth $2,817,000 after buying an additional 2,657 shares during the last quarter. Institutional investors 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.