Bassett Furniture Industries (NASDAQ:BSET) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Bassett Furniture Industries (NASDAQ:BSET) from a hold rating to a sell rating in a research report released on Saturday.

Other analysts have also recently issued research reports about the stock. Zacks Research cut shares of Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a research note on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Bassett Furniture Industries in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Bassett Furniture Industries presently has a consensus rating of “Hold”.

Bassett Furniture Industries Stock Up 0.6%

Shares of Bassett Furniture Industries stock opened at $14.10 on Friday. Bassett Furniture Industries has a twelve month low of $13.17 and a twelve month high of $19.75. The stock has a market cap of $121.92 million, a price-to-earnings ratio of 22.74, a P/E/G ratio of 1.06 and a beta of 0.95. The company’s fifty day moving average is $14.73 and its 200 day moving average is $15.46.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). Bassett Furniture Industries had a return on equity of 3.48% and a net margin of 1.61%.The business had revenue of $80.34 million during the quarter, compared to the consensus estimate of $84.38 million. As a group, equities analysts anticipate that Bassett Furniture Industries will post 0.75 earnings per share for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be issued a $0.20 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.80 annualized dividend and a yield of 5.7%. Bassett Furniture Industries’s payout ratio is presently 129.03%.

Hedge Funds Weigh In On Bassett Furniture Industries

Institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC acquired a new position in shares of Bassett Furniture Industries during the fourth quarter valued at about $465,000. Nalls Sherbakoff Group LLC acquired a new position in shares of Bassett Furniture Industries during the fourth quarter valued at about $46,000. Invesco Ltd. acquired a new position in shares of Bassett Furniture Industries during the fourth quarter valued at about $175,000. Empowered Funds LLC raised its holdings in shares of Bassett Furniture Industries by 10.1% during the fourth quarter. Empowered Funds LLC now owns 38,544 shares of the company’s stock valued at $646,000 after purchasing an additional 3,543 shares during the period. Finally, Bridgeway Capital Management LLC raised its holdings in shares of Bassett Furniture Industries by 10.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 91,786 shares of the company’s stock valued at $1,538,000 after purchasing an additional 8,743 shares during the period. 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.