Shares of Bassett Furniture Industries Inc. (NASDAQ:BSET) have been assigned a consensus rating of “Hold” from the six analysts that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $21.00.
Several research analysts have commented on BSET shares. BidaskClub upgraded shares of Bassett Furniture Industries from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 23rd. Zacks Investment Research downgraded shares of Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research report on Friday, August 31st. Stifel Nicolaus lowered their price objective on shares of Bassett Furniture Industries from $29.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, September 28th. Finally, ValuEngine downgraded shares of Bassett Furniture Industries from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd.
Shares of BSET stock traded down $0.10 during trading on Thursday, hitting $19.72. The company had a trading volume of 646 shares, compared to its average volume of 48,204. Bassett Furniture Industries has a one year low of $18.86 and a one year high of $40.30. The stock has a market cap of $213.09 million, a P/E ratio of 12.62 and a beta of 0.89.
Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings data on Thursday, September 27th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.14). Bassett Furniture Industries had a net margin of 2.47% and a return on equity of 7.07%. The firm had revenue of $112.96 million for the quarter. On average, equities research analysts predict that Bassett Furniture Industries will post 1.19 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Friday, November 9th will be given a dividend of $0.125 per share. The ex-dividend date is Thursday, November 8th. This represents a $0.50 annualized dividend and a yield of 2.54%. Bassett Furniture Industries’s dividend payout ratio is currently 31.65%.
In related news, Director John R. Belk purchased 15,000 shares of the stock in a transaction dated Friday, October 12th. The stock was bought at an average cost of $20.99 per share, for a total transaction of $314,850.00. Following the completion of the acquisition, the director now owns 16,109 shares of the company’s stock, valued at $338,127.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John R. Belk purchased 3,306 shares of the stock in a transaction dated Thursday, October 4th. The shares were bought at an average price of $20.99 per share, with a total value of $69,392.94. Following the completion of the acquisition, the director now directly owns 16,109 shares of the company’s stock, valued at approximately $338,127.91. The disclosure for this purchase can be found here. 6.00% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. increased its holdings in shares of Bassett Furniture Industries by 789.0% during the third quarter. Meeder Asset Management Inc. now owns 6,721 shares of the company’s stock worth $143,000 after buying an additional 5,965 shares in the last quarter. Alps Advisors Inc. acquired a new position in shares of Bassett Furniture Industries during the second quarter worth $227,000. Russell Investments Group Ltd. increased its holdings in shares of Bassett Furniture Industries by 376.5% during the first quarter. Russell Investments Group Ltd. now owns 8,100 shares of the company’s stock worth $246,000 after buying an additional 6,400 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Bassett Furniture Industries during the second quarter worth $252,000. Finally, Macquarie Group Ltd. increased its holdings in shares of Bassett Furniture Industries by 135.1% during the second quarter. Macquarie Group Ltd. now owns 10,964 shares of the company’s stock worth $302,000 after buying an additional 6,300 shares in the last quarter. Institutional investors own 74.22% of the company’s stock.
Bassett Furniture Industries Company Profile
Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States. The company operates in three segments: Wholesale, Retail, and Logistical Services. It is involved in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings (BHF) retail stores, as well as independent furniture retailers; and wood and upholstery operations.
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