Bassett Furniture Industries, Incorporated (NASDAQ:BSET – Get Free Report) passed 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.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Bassett Furniture Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 14th. Zacks Research upgraded shares of Bassett Furniture Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Finally, Wall Street Zen upgraded shares of Bassett Furniture Industries from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Bassett Furniture Industries has a consensus rating of “Buy”.
Check Out Our Latest Research Report on Bassett Furniture Industries
Bassett Furniture Industries Stock Performance
Bassett Furniture Industries (NASDAQ:BSET – Get Free Report) last released its earnings results on Wednesday, July 1st. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. Bassett Furniture Industries had a return on equity of 3.56% and a net margin of 1.65%.The business had revenue of $83.75 million for the quarter, compared to analysts’ expectations of $83.32 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. As a group, analysts anticipate that Bassett Furniture Industries, Incorporated will post 0.89 earnings per share for the current year.
Bassett Furniture Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, August 14th. This represents a $0.80 annualized dividend and a dividend yield of 4.1%. Bassett Furniture Industries’s dividend payout ratio is 125.00%.
Institutional Trading of Bassett Furniture Industries
Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in Bassett Furniture Industries by 97.4% in the first quarter. Goldman Sachs Group Inc. now owns 24,840 shares of the company’s stock worth $379,000 after buying an additional 12,258 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Bassett Furniture Industries by 7.9% in the 1st quarter. Empowered Funds LLC now owns 28,643 shares of the company’s stock worth $437,000 after acquiring an additional 2,089 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Bassett Furniture Industries by 87.9% in the 1st quarter. Jane Street Group LLC now owns 21,454 shares of the company’s stock valued at $327,000 after purchasing an additional 10,037 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Bassett Furniture Industries by 114.3% during the 2nd quarter. Geode Capital Management LLC now owns 190,182 shares of the company’s stock valued at $2,892,000 after purchasing an additional 101,448 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in Bassett Furniture Industries in the 2nd quarter worth $83,000. Hedge funds and other institutional investors own 54.40% of the company’s stock.
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.
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