BidaskClub cut shares of Bassett Furniture Industries (NASDAQ:BSET) from a sell rating to a strong sell rating in a research report released on Saturday morning.

A number of other research analysts also recently issued reports on the company. Zacks Investment Research upgraded Bassett Furniture Industries from a hold rating to a buy rating and set a $45.00 price target on the stock in a report on Thursday, December 28th. ValuEngine downgraded Bassett Furniture Industries from a buy rating to a hold rating in a report on Friday, December 1st. Finally, Stifel Nicolaus restated a hold rating and set a $39.00 price target (up previously from $36.00) on shares of Bassett Furniture Industries in a report on Saturday, September 30th.

Bassett Furniture Industries (BSET) traded down $0.95 on Friday, hitting $35.40. The stock had a trading volume of 52,783 shares, compared to its average volume of 35,142. Bassett Furniture Industries has a 1 year low of $24.90 and a 1 year high of $41.30. The stock has a market capitalization of $380.02, a P/E ratio of 22.26 and a beta of 1.05.

The firm also recently declared a special dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a dividend of $0.35 per share. This represents a yield of 1.17%. The ex-dividend date was Thursday, November 30th. This is an increase from Bassett Furniture Industries’s previous special dividend of $0.30. Bassett Furniture Industries’s payout ratio is currently 25.73%.

In other Bassett Furniture Industries news, insider John E. Bassett III sold 2,000 shares of Bassett Furniture Industries stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $40.25, for a total transaction of $80,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jay R. Hervey sold 650 shares of Bassett Furniture Industries stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $39.19, for a total value of $25,473.50. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System boosted its position in Bassett Furniture Industries by 8.6% during the 2nd quarter. California Public Employees Retirement System now owns 51,700 shares of the company’s stock valued at $1,962,000 after acquiring an additional 4,100 shares in the last quarter. Voya Investment Management LLC bought a new stake in Bassett Furniture Industries during the 2nd quarter valued at approximately $272,000. Raymond James Financial Services Advisors Inc. boosted its position in Bassett Furniture Industries by 25.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 18,849 shares of the company’s stock valued at $715,000 after acquiring an additional 3,855 shares in the last quarter. First Trust Advisors LP bought a new stake in Bassett Furniture Industries during the 3rd quarter valued at approximately $300,000. Finally, Hillsdale Investment Management Inc. bought a new stake in Bassett Furniture Industries during the 3rd quarter valued at approximately $1,082,000. 71.83% of the stock is currently owned by institutional investors and hedge funds.

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About Bassett Furniture Industries

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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