Bassett Furniture Industries (NASDAQ:BSET) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Bassett Furniture Industries, Incorporated (NASDAQ:BSET)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $15.97 and traded as low as $14.46. Bassett Furniture Industries shares last traded at $14.50, with a volume of 40,812 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BSET. Weiss Ratings restated a “hold (c)” rating on shares of Bassett Furniture Industries in a report on Wednesday, January 21st. Zacks Research cut shares of Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. Finally, Wall Street Zen cut shares of Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

Bassett Furniture Industries Price Performance

The stock has a market cap of $125.43 million, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 0.93 and a beta of 0.99. The stock’s 50 day simple moving average is $16.32 and its two-hundred day simple moving average is $15.97.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.07). Bassett Furniture Industries had a return on equity of 3.91% and a net margin of 1.82%.The company had revenue of $88.67 million for the quarter, compared to the consensus estimate of $86.90 million. As a group, analysts forecast that Bassett Furniture Industries, Incorporated will post 0.75 earnings per share for the current fiscal year.

Bassett Furniture Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.80 annualized dividend and a dividend yield of 5.5%. Bassett Furniture Industries’s dividend payout ratio (DPR) is currently 114.29%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in Bassett Furniture Industries by 95.3% in the 4th quarter. Russell Investments Group Ltd. now owns 1,504 shares of the company’s stock valued at $25,000 after buying an additional 734 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Bassett Furniture Industries during the 3rd quarter worth approximately $29,000. Group One Trading LLC acquired a new stake in shares of Bassett Furniture Industries in the second quarter valued at approximately $30,000. Motiv8 Investments LLC bought a new stake in shares of Bassett Furniture Industries in the fourth quarter worth $42,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Bassett Furniture Industries in the second quarter worth $68,000. 54.40% of the stock is owned by institutional investors and hedge funds.

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.