Bassett Furniture Industries (NASDAQ:BSET) Share Price Passes Below 200 Day Moving Average of $15.69

Shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.69 and traded as low as $13.89. Bassett Furniture Industries shares last traded at $14.38, with a volume of 16,160 shares.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Noble Financial reiterated a “market perform” rating on shares of Bassett Furniture Industries in a research report on Thursday, September 7th. TheStreet raised Bassett Furniture Industries from a “c+” rating to a “b-” rating in a research note on Tuesday, July 18th. Finally, StockNews.com downgraded Bassett Furniture Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 8th.

Bassett Furniture Industries Stock Performance

The company has a 50 day moving average of $15.90 and a two-hundred day moving average of $15.69. The stock has a market cap of $127.12 million, a PE ratio of 8.12, a price-to-earnings-growth ratio of 15.97 and a beta of 1.65.

Bassett Furniture Industries (NASDAQ:BSET) last posted its earnings results on Thursday, June 29th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.13. The firm had revenue of $100.52 million during the quarter, compared to the consensus estimate of $102.62 million. Bassett Furniture Industries had a net margin of 3.62% and a return on equity of 8.25%. As a group, equities research analysts anticipate that Bassett Furniture Industries, Incorporated will post 0.05 EPS for the current year.

Bassett Furniture Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 5.01%. This is a boost from Bassett Furniture Industries’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, August 10th. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently 40.68%.

Institutional Trading of Bassett Furniture Industries

Several hedge funds have recently modified their holdings of BSET. Aegis Financial Corp raised its holdings in shares of Bassett Furniture Industries by 64.0% in the second quarter. Aegis Financial Corp now owns 476,643 shares of the company’s stock worth $7,169,000 after acquiring an additional 186,001 shares during the last quarter. LSV Asset Management increased its position in Bassett Furniture Industries by 101.5% during the 1st quarter. LSV Asset Management now owns 216,226 shares of the company’s stock worth $3,849,000 after purchasing an additional 108,926 shares in the last quarter. Millennium Management LLC acquired a new stake in Bassett Furniture Industries during the 2nd quarter worth approximately $1,795,000. Marshall Wace LLP acquired a new stake in Bassett Furniture Industries during the 3rd quarter worth approximately $763,000. Finally, Bank of Montreal Can acquired a new stake in Bassett Furniture Industries during the 2nd quarter worth approximately $623,000. 55.87% of the stock is owned by institutional investors and hedge funds.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated engages in the manufacture, marketing, and retail of home furnishings in the United States and internationally. It operates through two segments: Wholesale and Retail company-owned Stores. 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.