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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.27 and traded as low as $14.22. Bassett Furniture Industries shares last traded at $14.56, with a volume of 29,901 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BSET shares. Weiss Ratings restated a “hold (c)” rating on shares of Bassett Furniture Industries in a research note on Monday, April 20th. Wall Street Zen lowered Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research note on Sunday, May 31st. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Bassett Furniture Industries Price Performance

The company has a 50-day moving average price of $14.42 and a two-hundred day moving average price of $15.27. The company has a market cap of $125.94 million, a PE ratio of 23.48, a P/E/G ratio of 1.08 and a beta of 0.77.

Bassett Furniture Industries (NASDAQ:BSET) last issued its earnings results on Wednesday, April 1st. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). Bassett Furniture Industries had a return on equity of 3.48% and a net margin of 1.61%.The company had revenue of $80.34 million during the quarter, compared to analysts’ expectations of $84.38 million. On average, equities research analysts anticipate that Bassett Furniture Industries, Incorporated will post 0.82 earnings per share for the current year.

Bassett Furniture Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.80 annualized dividend and a dividend yield of 5.5%. Bassett Furniture Industries’s dividend payout ratio is presently 129.03%.

Institutional Investors Weigh In On Bassett Furniture Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC boosted its holdings in Bassett Furniture Industries by 9.2% in the first quarter. Empowered Funds LLC now owns 42,076 shares of the company’s stock valued at $595,000 after purchasing an additional 3,532 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Bassett Furniture Industries by 4.0% in the first quarter. Renaissance Technologies LLC now owns 304,161 shares of the company’s stock valued at $4,304,000 after purchasing an additional 11,700 shares during the last quarter. Aegis Financial Corp boosted its holdings in Bassett Furniture Industries by 5.2% in the first quarter. Aegis Financial Corp now owns 526,997 shares of the company’s stock valued at $7,457,000 after purchasing an additional 25,878 shares during the last quarter. Hsbc Holdings PLC purchased a new position in Bassett Furniture Industries in the fourth quarter valued at about $465,000. Finally, Nalls Sherbakoff Group LLC purchased a new position in Bassett Furniture Industries in the fourth quarter valued at about $46,000. Hedge funds and other 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.