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

Shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.34 and traded as high as $17.28. Bassett Furniture Industries shares last traded at $16.40, with a volume of 17,818 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Bassett Furniture Industries from a “hold” rating to a “buy” rating in a research report on Friday, January 31st.

Bassett Furniture Industries Stock Down 3.9%

The business has a 50 day simple moving average of $16.74 and a 200 day simple moving average of $15.35. The company has a market capitalization of $142.75 million, a PE ratio of -14.91, a PEG ratio of 1.29 and a beta of 1.26.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings results on Wednesday, April 2nd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.19. Bassett Furniture Industries had a negative return on equity of 2.44% and a negative net margin of 2.94%. The company had revenue of $82.16 million during the quarter, compared to analysts’ expectations of $79.71 million. During the same period last year, the business posted ($0.14) earnings per share. Equities analysts expect that Bassett Furniture Industries, Incorporated will post 0.75 EPS for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date is Friday, May 16th. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently -106.67%.

Institutional Investors Weigh In On Bassett Furniture Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its stake in Bassett Furniture Industries by 51.9% in the third quarter. Barclays PLC now owns 10,124 shares of the company’s stock valued at $146,000 after buying an additional 3,459 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Bassett Furniture Industries in the fourth quarter worth about $158,000. FourThought Financial Partners LLC purchased a new position in shares of Bassett Furniture Industries in the fourth quarter worth about $180,000. Goldman Sachs Group Inc. raised its stake in shares of Bassett Furniture Industries by 97.4% in the first quarter. Goldman Sachs Group Inc. now owns 24,840 shares of the company’s stock worth $379,000 after purchasing an additional 12,258 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Bassett Furniture Industries by 4.5% in the fourth quarter. Empowered Funds LLC now owns 26,554 shares of the company’s stock worth $367,000 after purchasing an additional 1,135 shares during the last quarter. 54.40% of the stock is currently owned by hedge funds and other institutional investors.

About Bassett Furniture Industries

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.