Bassett Furniture Industries (NASDAQ:BSET) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.00 and traded as high as $20.77. Bassett Furniture Industries shares last traded at $20.35, with a volume of 14,239 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Zacks Research raised Bassett Furniture Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Weiss Ratings upgraded Bassett Furniture Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen raised Bassett Furniture Industries from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Bassett Furniture Industries Price Performance

The business’s 50 day moving average price is $18.21 and its 200-day moving average price is $16.00. The company has a market cap of $176.23 million, a P/E ratio of 31.80, a PEG ratio of 1.42 and a beta of 0.76.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings results on Wednesday, July 1st. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. Bassett Furniture Industries had a return on equity of 3.56% and a net margin of 1.65%.The business had revenue of $83.75 million for the quarter, compared to analyst estimates of $83.32 million. During the same period in the prior year, the company earned $0.22 EPS. As a group, research analysts forecast that Bassett Furniture Industries, Incorporated will post 0.89 EPS for the current year.

Bassett Furniture Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.9%. Bassett Furniture Industries’s payout ratio is currently 125.00%.

Institutional Trading of Bassett Furniture Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its holdings in Bassett Furniture Industries by 95.3% during the 4th quarter. Russell Investments Group Ltd. now owns 1,504 shares of the company’s stock worth $25,000 after acquiring an additional 734 shares during the last quarter. Group One Trading LLC bought a new position in shares of Bassett Furniture Industries in the second quarter worth about $30,000. Motiv8 Investments LLC acquired a new position in shares of Bassett Furniture Industries during the fourth quarter worth approximately $42,000. Nalls Sherbakoff Group LLC bought a new position in Bassett Furniture Industries in the 4th quarter valued at $46,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Bassett Furniture Industries in the 2nd quarter valued at $68,000. 54.40% of the stock is currently owned by institutional investors and hedge funds.

About Bassett Furniture Industries

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.