Bassett Furniture Industries (BSET) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Bassett Furniture Industries (NASDAQ:BSET) from a sell rating to a hold rating in a research report released on Friday.

BSET has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Bassett Furniture Industries from a hold rating to a sell rating in a research note on Friday, August 31st. Stifel Nicolaus reduced their price target on shares of Bassett Furniture Industries from $29.00 to $21.00 and set a hold rating on the stock in a research report on Friday, September 28th. Finally, BidaskClub downgraded shares of Bassett Furniture Industries from a sell rating to a strong sell rating in a research report on Friday, August 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $33.00.

NASDAQ BSET opened at $20.40 on Friday. Bassett Furniture Industries has a 12 month low of $18.86 and a 12 month high of $40.30. The firm has a market cap of $217.02 million, a price-to-earnings ratio of 12.91 and a beta of 0.86.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings data on Thursday, September 27th. The company reported $0.28 EPS for the quarter, missing the Zacks’ 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 company 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 firm also recently declared a quarterly dividend, which was paid on Friday, November 23rd. Stockholders of record on Friday, November 9th were given a $0.125 dividend. The ex-dividend date was Thursday, November 8th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.45%. Bassett Furniture Industries’s payout ratio is currently 31.65%.

In other Bassett Furniture Industries news, Director John R. Belk purchased 15,000 shares of Bassett Furniture Industries stock in a transaction dated Friday, October 12th. The shares were bought at an average cost of $20.99 per share, for a total transaction of $314,850.00. Following the transaction, the director now owns 16,109 shares in the company, valued at approximately $338,127.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John R. Belk purchased 3,306 shares of Bassett Furniture Industries stock in a transaction dated Thursday, October 4th. The stock was acquired at an average price of $20.99 per share, for a total transaction of $69,392.94. Following the completion of the transaction, the director now owns 16,109 shares in the company, valued at approximately $338,127.91. The disclosure for this purchase can be found here. Company insiders own 6.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of BSET. Walthausen & Co. LLC bought a new position in shares of Bassett Furniture Industries in the 3rd quarter worth about $3,392,000. Assenagon Asset Management S.A. bought a new position in shares of Bassett Furniture Industries in the 3rd quarter worth about $2,460,000. Gamco Investors INC. ET AL lifted its position in shares of Bassett Furniture Industries by 15.6% in the 2nd quarter. Gamco Investors INC. ET AL now owns 822,709 shares of the company’s stock worth $22,666,000 after buying an additional 111,223 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Bassett Furniture Industries by 17.2% in the 2nd quarter. Renaissance Technologies LLC now owns 719,999 shares of the company’s stock worth $19,836,000 after acquiring an additional 105,599 shares during the period. Finally, North Star Investment Management Corp. acquired a new stake in shares of Bassett Furniture Industries in the 3rd quarter worth about $892,000. Institutional investors own 72.93% of the company’s stock.

About Bassett Furniture Industries

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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