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

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) shares passed 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.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered 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 Up 0.6 %

The company has a market cap of $121.98 million, a price-to-earnings ratio of -7.11, a PEG ratio of 1.07 and a beta of 1.69. The business has a 50-day simple moving average of $14.52 and a two-hundred day simple moving average of $14.02.

Bassett Furniture Industries (NASDAQ:BSET) last posted its earnings results 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 company had revenue of $75.62 million during the quarter, compared to analyst estimates of $78.63 million. During the same quarter last year, the firm posted ($0.30) earnings per share. As a group, equities analysts anticipate that Bassett Furniture Industries, Incorporated will post -0.77 earnings per share for the current year.

Bassett Furniture Industries Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BSET. Barclays PLC grew its position in shares of Bassett Furniture Industries by 51.9% in the third quarter. Barclays PLC now owns 10,124 shares of the company’s stock valued at $146,000 after purchasing an additional 3,459 shares during the last quarter. Empowered Funds LLC grew its holdings in Bassett Furniture Industries by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 25,419 shares of the company’s stock valued at $367,000 after buying an additional 1,206 shares during the last quarter. Finally, Inspire Advisors LLC grew its holdings in Bassett Furniture Industries by 119.5% in the 2nd quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock valued at $370,000 after buying an additional 14,183 shares during the last quarter. Institutional investors and hedge funds own 54.40% of the company’s stock.

Bassett Furniture Industries Company Profile

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.