Bassett Furniture Industries (NASDAQ:BSET) Shares Cross Below 200-Day Moving Average – What’s Next?

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $14.02 and traded as low as $13.66. Bassett Furniture Industries shares last traded at $13.86, with a volume of 9,793 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research note on Friday, December 20th.

Bassett Furniture Industries Stock Performance

The company has a 50-day moving average of $14.52 and a 200 day moving average of $14.02. The firm has a market cap of $121.98 million, a P/E ratio of -7.11, a P/E/G ratio of 1.07 and a beta of 1.69.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings data on Wednesday, October 9th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.18). Bassett Furniture Industries had a negative return on equity of 3.47% and a negative net margin of 5.00%. The firm had revenue of $75.62 million for the quarter, compared to the consensus estimate of $78.63 million. During the same period in the prior year, the company posted ($0.30) earnings per share. Sell-side analysts anticipate that Bassett Furniture Industries, Incorporated will post -0.77 EPS for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.20 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.77%. Bassett Furniture Industries’s dividend payout ratio is -41.03%.

Institutional Trading of Bassett Furniture Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC boosted its position in Bassett Furniture Industries by 51.9% in the 3rd quarter. Barclays PLC now owns 10,124 shares of the company’s stock valued at $146,000 after buying an additional 3,459 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Bassett Furniture Industries by 5.0% during the third quarter. Empowered Funds LLC now owns 25,419 shares of the company’s stock valued at $367,000 after acquiring an additional 1,206 shares during the period. Finally, Inspire Advisors LLC increased its position in Bassett Furniture Industries by 119.5% in the second quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock worth $370,000 after purchasing an additional 14,183 shares during the period. Institutional investors and hedge funds own 54.40% of the company’s stock.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.