Bassett Furniture Industries (BSET) Sets New 52-Week Low at $19.90
Bassett Furniture Industries Inc. (NASDAQ:BSET)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $19.90 and last traded at $20.20, with a volume of 1600 shares traded. The stock had previously closed at $20.70.
BSET has been the topic of several recent research reports. Zacks Investment Research raised shares of Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 30th. BidaskClub cut shares of Bassett Furniture Industries from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 5th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $39.00.
The firm has a market capitalization of $218.48 million, a P/E ratio of 13.07 and a beta of 0.78.
Institutional investors and hedge funds have recently made changes to their positions in the business. Alps Advisors Inc. acquired a new position in shares of Bassett Furniture Industries in the second quarter worth about $227,000. KBC Group NV increased its position in Bassett Furniture Industries by 48.5% during the first quarter. KBC Group NV now owns 6,365 shares of the company’s stock worth $193,000 after acquiring an additional 2,079 shares during the period. Citadel Advisors LLC bought a new position in Bassett Furniture Industries during the first quarter worth $224,000. Element Capital Management LLC bought a new position in Bassett Furniture Industries during the first quarter worth $228,000. Finally, Russell Investments Group Ltd. increased its position in Bassett Furniture Industries by 376.5% during the first quarter. Russell Investments Group Ltd. now owns 8,100 shares of the company’s stock worth $246,000 after acquiring an additional 6,400 shares during the period. Institutional investors own 72.29% of the company’s stock.
About Bassett Furniture Industries (NASDAQ:BSET)
Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States. The company operates in three segments: Wholesale, Retail, and Logistical Services. It is involved in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings (BHF) retail stores, as well as independent furniture retailers; and wood and upholstery operations.
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