Bassett Furniture Industries (NASDAQ:BSET) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.41 and traded as high as $17.57. Bassett Furniture Industries shares last traded at $16.81, with a volume of 17,928 shares traded.

Bassett Furniture Industries Stock Down 1.4%

The stock has a fifty day moving average of $16.83 and a 200-day moving average of $15.41. The firm has a market capitalization of $146.31 million, a P/E ratio of -15.28, a P/E/G ratio of 1.29 and a beta of 1.26.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings results on Wednesday, April 2nd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.19. Bassett Furniture Industries had a negative net margin of 2.94% and a negative return on equity of 2.44%. The company had revenue of $82.16 million during the quarter, compared to analysts’ expectations of $79.71 million. During the same period last year, the business earned ($0.14) EPS. Sell-side analysts predict that Bassett Furniture Industries, Incorporated will post 0.75 EPS for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.80 annualized dividend and a yield of 4.76%. Bassett Furniture Industries’s payout ratio is currently -106.67%.

Institutional Investors Weigh In On Bassett Furniture Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in BSET. Jane Street Group LLC increased its position in shares of Bassett Furniture Industries by 87.9% in the first quarter. Jane Street Group LLC now owns 21,454 shares of the company’s stock valued at $327,000 after acquiring an additional 10,037 shares during the last quarter. Empowered Funds LLC grew its stake in Bassett Furniture Industries by 7.9% in the first quarter. Empowered Funds LLC now owns 28,643 shares of the company’s stock valued at $437,000 after purchasing an additional 2,089 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Bassett Furniture Industries by 97.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,840 shares of the company’s stock worth $379,000 after purchasing an additional 12,258 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Bassett Furniture Industries by 0.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 571,777 shares of the company’s stock worth $8,720,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Truffle Hound Capital LLC boosted its holdings in shares of Bassett Furniture Industries by 49.3% in the 1st quarter. Truffle Hound Capital LLC now owns 298,520 shares of the company’s stock valued at $4,552,000 after buying an additional 98,520 shares during the last quarter. 54.40% of the stock is owned by institutional investors.

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.