ValuEngine lowered shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) from a buy rating to a hold rating in a research note published on Monday.

A number of other analysts have also recently issued reports on the company. BidaskClub cut Bassett Furniture Industries, from a buy rating to a hold rating in a research report on Saturday, August 5th. Stifel Nicolaus upped their target price on Bassett Furniture Industries, from $28.00 to $36.00 and gave the company a hold rating in a research note on Friday, June 30th. Finally, Zacks Investment Research cut Bassett Furniture Industries, from a strong-buy rating to a hold rating in a research report on Tuesday, August 29th.

Bassett Furniture Industries, (NASDAQ:BSET) traded down 0.64% during trading on Monday, reaching $38.75. 1,491 shares of the company’s stock were exchanged. The company has a market capitalization of $415.98 million, a price-to-earnings ratio of 22.63 and a beta of 1.12. The stock’s 50-day moving average price is $36.28 and its 200-day moving average price is $32.92. Bassett Furniture Industries, has a 52-week low of $22.55 and a 52-week high of $41.30.

Bassett Furniture Industries, (NASDAQ:BSET) last posted its quarterly earnings results on Thursday, September 28th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. Bassett Furniture Industries, had a return on equity of 9.17% and a net margin of 4.09%. The firm had revenue of $114.30 million during the quarter, compared to analysts’ expectations of $110.65 million. During the same quarter in the prior year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities analysts expect that Bassett Furniture Industries, will post $1.66 earnings per share for the current year.

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In related news, insider John E. Bassett III sold 3,130 shares of the stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $40.00, for a total value of $125,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kristina K. Cashman sold 750 shares of the firm’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $38.08, for a total transaction of $28,560.00. Following the transaction, the director now owns 8,614 shares of the company’s stock, valued at approximately $328,021.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,135 shares of company stock worth $908,659. 6.40% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSET. Royce & Associates LP grew its stake in shares of Bassett Furniture Industries, by 18.4% in the 2nd quarter. Royce & Associates LP now owns 1,238,752 shares of the company’s stock valued at $47,011,000 after purchasing an additional 192,682 shares during the period. Gamco Investors INC. ET AL raised its holdings in shares of Bassett Furniture Industries, by 6.8% in the 2nd quarter. Gamco Investors INC. ET AL now owns 590,781 shares of the company’s stock worth $22,420,000 after buying an additional 37,816 shares in the last quarter. SG Capital Management LLC acquired a new position in shares of Bassett Furniture Industries, in the 2nd quarter worth approximately $1,325,000. Cadence Capital Management LLC acquired a new position in shares of Bassett Furniture Industries, in the 2nd quarter worth approximately $1,187,000. Finally, State Street Corp raised its holdings in shares of Bassett Furniture Industries, by 7.3% in the 2nd quarter. State Street Corp now owns 178,240 shares of the company’s stock worth $6,766,000 after buying an additional 12,140 shares in the last quarter. 71.92% of the stock is currently owned by institutional investors.

Bassett Furniture Industries, Company Profile

Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.

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