Bassett Furniture Industries (NASDAQ:BSET) Share Price Passes Above 200-Day Moving Average of $18.42

Bassett Furniture Industries, Incorporated (NASDAQ:BSETGet Rating)’s share price 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 traded.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. TheStreet raised shares of Bassett Furniture Industries from a “c+” rating to a “b” rating in a research report on Friday, September 30th. StockNews.com upgraded shares of Bassett Furniture Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 11th.

Bassett Furniture Industries Stock Performance

The firm’s 50 day simple moving average is $17.56 and its 200 day simple moving average is $18.42. The firm has a market capitalization of $175.15 million, a price-to-earnings ratio of 2.79 and a beta of 1.54.

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

Bassett Furniture Industries Announces Dividend

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

Insider Activity

In related news, Director William C. Warden, Jr. purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 12th. The stock was bought at an average price of $17.97 per share, with a total value of $89,850.00. Following the acquisition, the director now owns 53,393 shares in the company, valued at $959,472.21. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Bassett Furniture Industries

A number of large investors have recently modified their holdings of BSET. Millennium Management LLC purchased a new stake in shares of Bassett Furniture Industries during the second quarter worth $1,795,000. Victory Capital Management Inc. grew its holdings in shares of Bassett Furniture Industries by 23.2% during the first quarter. Victory Capital Management Inc. now owns 300,301 shares of the company’s stock worth $4,973,000 after buying an additional 56,495 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Bassett Furniture Industries during the third quarter worth $763,000. Ancora Advisors LLC boosted its position in shares of Bassett Furniture Industries by 26.4% during the 1st quarter. Ancora Advisors LLC now owns 171,020 shares of the company’s stock valued at $4,151,000 after acquiring an additional 35,691 shares during the last quarter. Finally, LSV Asset Management boosted its position in shares of Bassett Furniture Industries by 121.9% during the 3rd quarter. LSV Asset Management now owns 62,578 shares of the company’s stock valued at $981,000 after acquiring an additional 34,378 shares during the last quarter. Hedge funds and other institutional investors own 58.27% of the company’s stock.

Bassett Furniture Industries Company Profile

(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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