Bassett Furniture Industries (NASDAQ:BSET) Shares Cross Above 200 Day Moving Average – Should You Sell?

Shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.86 and traded as high as $19.78. Bassett Furniture Industries shares last traded at $19.37, with a volume of 36,830 shares trading hands.

Wall Street Analyst Weigh In

BSET has been the topic of a number of recent research reports. Zacks Research upgraded shares of Bassett Furniture Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Wall Street Zen upgraded Bassett Furniture Industries from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Weiss Ratings raised Bassett Furniture Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Bassett Furniture Industries Trading Down 2.1%

The business’s 50-day simple moving average is $17.68 and its two-hundred day simple moving average is $15.89. The firm has a market cap of $164.28 million, a price-to-earnings ratio of 29.64, a P/E/G ratio of 1.36 and a beta of 0.76.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings results on Wednesday, July 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. Bassett Furniture Industries had a net margin of 1.65% and a return on equity of 3.56%. The firm had revenue of $83.75 million for the quarter, compared to the consensus estimate of $83.32 million. During the same quarter in the previous year, the company earned $0.22 EPS. On average, analysts forecast that Bassett Furniture Industries, Incorporated will post 0.89 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, August 28th. Investors of record on Friday, August 14th will be issued a $0.20 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.80 annualized dividend and a yield of 4.2%. Bassett Furniture Industries’s payout ratio is presently 125.00%.

Institutional Trading of Bassett Furniture Industries

Large investors have recently bought and sold shares of the business. Aegis Financial Corp lifted its stake in shares of Bassett Furniture Industries by 5.2% in the 1st quarter. Aegis Financial Corp now owns 526,997 shares of the company’s stock valued at $7,457,000 after purchasing an additional 25,878 shares during the period. Renaissance Technologies LLC grew its stake in Bassett Furniture Industries by 4.0% during the first quarter. Renaissance Technologies LLC now owns 304,161 shares of the company’s stock worth $4,304,000 after purchasing an additional 11,700 shares during the period. Geode Capital Management LLC increased its holdings in Bassett Furniture Industries by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 195,368 shares of the company’s stock worth $3,275,000 after purchasing an additional 2,796 shares in the last quarter. State Street Corp increased its holdings in Bassett Furniture Industries by 5.8% in the fourth quarter. State Street Corp now owns 119,643 shares of the company’s stock worth $2,005,000 after purchasing an additional 6,558 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in Bassett Furniture Industries by 10.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 91,786 shares of the company’s stock valued at $1,538,000 after buying an additional 8,743 shares during the period. 54.40% of the stock is currently owned by institutional investors and hedge funds.

Bassett Furniture Industries Company Profile

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.