Bassett Furniture Industries (NASDAQ:BSET) Rating Lowered to “Hold” at StockNews.com

Bassett Furniture Industries (NASDAQ:BSET) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Bassett Furniture Industries Price Performance

Shares of NASDAQ:BSET opened at $13.86 on Friday. The firm has a market capitalization of $121.98 million, a PE ratio of -7.11, a price-to-earnings-growth ratio of 1.07 and a beta of 1.69. Bassett Furniture Industries has a 1 year low of $12.10 and a 1 year high of $16.85. The firm’s 50-day moving average is $14.54 and its two-hundred day moving average is $14.05.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings data on Wednesday, October 9th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.18). Bassett Furniture Industries had a negative net margin of 5.00% and a negative return on equity of 3.47%. The business 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) EPS. Analysts expect that Bassett Furniture Industries will post -0.77 EPS for the current fiscal year.

Institutional Trading of Bassett Furniture Industries

A number of large investors have recently made changes to their positions in BSET. Empowered Funds LLC raised its stake in Bassett Furniture Industries by 5.0% in the third 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 in the last quarter. Barclays PLC lifted its stake in Bassett Furniture Industries by 51.9% during the third quarter. Barclays PLC now owns 10,124 shares of the company’s stock worth $146,000 after purchasing an additional 3,459 shares during the last quarter. Finally, Inspire Advisors LLC boosted its holdings in Bassett Furniture Industries by 119.5% in the second quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock valued at $370,000 after purchasing an additional 14,183 shares in the last quarter. 54.40% of the stock is currently owned by hedge funds and other 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.