Bassett Furniture Industries (NASDAQ:BSET) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Bassett Furniture Industries, Incorporated (NASDAQ:BSET)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BSET shares. Wall Street Zen upgraded shares of Bassett Furniture Industries from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings raised shares of Bassett Furniture Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 14th. Finally, Zacks Research upgraded Bassett Furniture Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Bassett Furniture Industries currently has a consensus rating of “Buy”.

Bassett Furniture Industries Stock Performance

The stock has a market capitalization of $176.23 million, a P/E ratio of 31.80, a PEG ratio of 1.43 and a beta of 0.76. The business has a fifty day simple moving average of $18.21 and a 200-day simple moving average of $16.00.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings data on Wednesday, July 1st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. Bassett Furniture Industries had a net margin of 1.65% and a return on equity of 3.56%. The company had revenue of $83.75 million during the quarter, compared to the consensus estimate of $83.32 million. During the same quarter last year, the firm posted $0.22 EPS. On average, sell-side analysts anticipate that Bassett Furniture Industries, Incorporated will post 0.89 earnings per share for the current year.

Bassett Furniture Industries Dividend Announcement

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

Hedge Funds Weigh In On Bassett Furniture Industries

Institutional investors have recently made changes to their positions in the stock. Aegis Financial Corp grew its stake in shares of Bassett Furniture Industries by 5.2% in the 1st quarter. Aegis Financial Corp now owns 526,997 shares of the company’s stock valued at $7,457,000 after buying an additional 25,878 shares during the period. Hsbc Holdings PLC acquired a new position in Bassett Furniture Industries during the 4th quarter worth approximately $465,000. Deutsche Bank AG boosted its holdings in Bassett Furniture Industries by 386.6% in the fourth quarter. Deutsche Bank AG now owns 6,783 shares of the company’s stock worth $114,000 after acquiring an additional 5,389 shares in the last quarter. New York State Common Retirement Fund bought a new position in Bassett Furniture Industries in the second quarter worth approximately $106,000. Finally, JPMorgan Chase & Co. acquired a new stake in Bassett Furniture Industries in the second quarter valued at approximately $83,000. Institutional investors and hedge funds own 54.40% of the company’s stock.

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.