Bassett Furniture Industries (NASDAQ:BSET) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $16.26 and traded as high as $16.73. Bassett Furniture Industries shares last traded at $15.84, with a volume of 9,207 shares.

Analysts Set New Price Targets

Several brokerages have issued reports on BSET. Zacks Research upgraded Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Wall Street Zen raised Bassett Furniture Industries from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “hold (c)” rating on shares of Bassett Furniture Industries in a report on Wednesday. Finally, Sidoti raised shares of Bassett Furniture Industries to a “strong-buy” rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Bassett Furniture Industries has a consensus rating of “Moderate Buy”.

Bassett Furniture Industries Stock Performance

The stock has a 50-day moving average of $16.31 and a 200-day moving average of $16.26. The firm has a market cap of $137.65 million, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 0.94 and a beta of 0.99.

Bassett Furniture Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a $0.20 dividend. The ex-dividend date is Friday, February 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.1%. Bassett Furniture Industries’s dividend payout ratio (DPR) is 88.89%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BSET. Goldman Sachs Group Inc. increased its stake in Bassett Furniture Industries by 97.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,840 shares of the company’s stock valued at $379,000 after buying an additional 12,258 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Bassett Furniture Industries by 7.9% during the 1st quarter. Empowered Funds LLC now owns 28,643 shares of the company’s stock worth $437,000 after buying an additional 2,089 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Bassett Furniture Industries by 87.9% in the 1st quarter. Jane Street Group LLC now owns 21,454 shares of the company’s stock valued at $327,000 after acquiring an additional 10,037 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Bassett Furniture Industries in the second quarter valued at about $235,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Bassett Furniture Industries in the second quarter valued at about $274,000. Institutional investors own 54.40% of the company’s stock.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Inc (NASDAQ: BSET), headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett’s products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.