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.

Bassett Furniture Industries (NASDAQ:BSET) last announced its earnings results on Thursday, June 28th. The company reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. Bassett Furniture Industries had a net margin of 2.82% and a return on equity of 7.93%. The company had revenue of $116.00 million during the quarter, compared to analysts’ expectations of $112.86 million. During the same period last year, the company posted $0.54 earnings per share. sell-side analysts predict that Bassett Furniture Industries Inc. will post 1.33 earnings per share for the current fiscal year.

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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